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Selected Dividend Transactions, Stock Split

Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:

Journalize the transactions.

If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

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Jan. 8. Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 150,000 common shares outstanding.

Jan. 8	CashCash DividendsCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockNo Entry Required	No Entry Required	No Entry Required
	CashCash DividendsCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockNo Entry Required	No Entry Required	No Entry Required

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Review the effect of stock splits on equity accounts.

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Apr. 30. Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1.

Apr. 30	Cash DividendsCash Dividends PayableCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockCash Dividends	Cash Dividends	Cash Dividends
	Cash DividendsCash Dividends PayableCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockCash Dividends Payable	Cash Dividends Payable	Cash Dividends Payable

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When a company declares a dividend it becomes legally binding.

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July 1. Paid the cash dividends.

July 1	Cash DividendsCash Dividends PayableCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockCash Dividends Payable	Cash Dividends Payable	Cash Dividends Payable
	CashCash DividendsCash Dividends PayableNo Entry RequiredPaid-In Capital in Excess of Par-Common StockCash	Cash	Cash

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What are the stockholders' receiving from the corporation?

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Oct. 31. Declared semiannual dividends of $0.75 on the preferred stock and $0.14 on the common stock (before the stock dividend). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $52.

Cash dividends	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required	- Select -	- Select -
	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required	- Select -	- Select -
Stock dividends	Common StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock DividendsStock Dividends Distributable	- Select -	- Select -
	CashCommon StockNo Entry RequiredStock DividendsStock Dividends Distributable	- Select -	- Select -
	CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock Dividends	- Select -	- Select -

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On the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity?

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Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend.

Payment	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required	- Select -	- Select -
	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required	- Select -	- Select -
Issuance	CashCommon StockNo Entry RequiredStock DividendsStock Dividends Distributable	- Select -	- Select -
	CashCommon StockNo Entry RequiredStock DividendsStock Dividends Distributable	- Select -	- Select -