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.

Jan. $8.$ Split the common stock $3$ for $1$ and reduced the par from $$60$ to $$20$ per share. After the split, there were $123,000$ common shares

outstanding.

Jan. $8$

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Review the effect of stock splits on equity accounts.

Apr. $30.$ Declared semiannual dividends of $$1\mathrm{.}60$ per share on $9,000$ shares of preferred stock and $$0\mathrm{.}14$ per share on the common stock payable on

July $1.$

Apr. $30$ July $1.$ Paid the cash dividends.

July $1$

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What are the stockholders' receiving from the corporation?

Chapter $12$ Assignments assignment take frame

Oct. $31.$ Declared semiannual dividends of $$1\mathrm{.}60$ per share on the preferred stock and $$0\mathrm{.}13$ per share on the common stock $($before the stock

dividend$).$ In addition, a $2\%$ common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is

estimated at $$36.$

Oct. $31$

Cash Dividends Payable

Oct. $31$

$$

$x$

$$

$x$

$$

$x$

$$

Stock Dividends Distributable $$

$$

$x$

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

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

Dec. $31$

Cash Dividends Payable

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$x$

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$$

$$

$x$

Dec. $31$

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$x$

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