Selected Dividend Transactions, Stock Split

Salected transactions completed by Canyon Ferry Boating Corporation during the eurrent figeal year are as follows:

Journalize the transactions.

Jan. $8.$ Split the common stock $2$ for $1$ and reduced the par from $$56$ to $$28$ per share. After the split, there were $87,000$ common shares outstanding

Jan. $8$ No Entry Required $$

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Review the effect of stock splits on equity accounts.

Apr. $30.$ Declared semiannual dividends of $$1\mathrm{.}4$ on $6,000$ shares of preferred stock and $$0\mathrm{.}06$ on the common stock payable on July $1.$

When a company declares a dividend it becomes legally binding.

July $1.$ Paid the cash dividends.

July $1$ Cash Dividends Payable

What are the stockholders' receiving from the corporation?

Cash Dividends Gash Dividends $$

Cash Dividends Payable $$

Stack dividends Stack Dividends $v$

Stack Dividends Distributable $$

Paid$-In$ Capital $in$ Exass $of$ Par$-$Common Stack $$

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

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

Payment Cash Dividends Payable $$

Cash $$