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 $$90$ to $$30$ per share. After the split, there were $93,000$ common shares outstanding.

Jan. $8$

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No Entry Required

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Review the effect of stock splits on equity accounts.

Apr. $30.$ Declared semiannual dividends of $$1\mathrm{.}00$ per share on $7,000$ shares of preferred stock and $$0\mathrm{.}15$ per share on the common stock payable on July $1.$

Apr, $30$ Cash Dividends $$

Cash Dividends Payable

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When a company declares a dividend it becomes legally binding.

July $1.$ Paid the cash dividends.

July $1$

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