Selected Dividend Transactions, Stock Split

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

Journalize the transactions.

Jan. $8.$ Split the common stock $2$ for $1$ and reduced the par from $$40$ to $$20$ per share. After the split, there were $81,000$ common shares outstanding.

Jan. $8$ No Entry Required $$

No Entry Required $$

Feedaack

T Check My Work

Review the effect of stock splits on equity accounts.

Apr. $30.$ Declared semiannual dividends of $$1\mathrm{.}6$ on $6,000$ shares of preferred stock and $$0\mathrm{.}12$ on the common stock payable on July $1.$

July $1.$ Paid the cash dividends.

July $1$ Cash Dividends Payable

Cash

$$36.$

Cash Dividends $\frac{\text{C}\text{a}\text{s}\text{h}\text{D}\text{i}\text{v}\text{i}\text{d}\text{e}\text{n}\text{d}\text{s}**}{\text{C}\text{a}\text{s}\text{h}\text{D}\text{i}\text{v}\text{i}\text{d}\text{e}\text{n}\text{d}\text{s}\text{P}\text{a}\text{v}\text{a}\text{b}\text{l}\text{e}}$

Stock dividends Stock Dividends $$

Stock Dividends Distributable $$

Paid$-$In Capital in Excess of Par$-$Common Stock $**$

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

Payment Cash Dividends Payable

Cash

Issuance Stock Dividends Distributable $**$

Common Stock $*$