Question: Selected Dividend Transactions, Stock. Split Selected transoctions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows. Journalze the transactions. If

Selected Dividend Transactions, Stock. Split Selected transoctions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows. Journalze 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 2 for 1 and reduced the par from $100 to $50 per share. After the split, there were 300,000 common shares outstanding. Jan. 8 Apr. 30. Declared semiannual dividends of $0.60 per share on 16,000 shares of preferred stock and $0.22 per share on the common stock payable on July 1. Apr. 30 July 1. Paid the cash dividends. July 1 July 1. Paid the casin dividends. July 1 Oct. 31. Deciared semiannual dividends of $0.60 per share on the preferred stock and $0.11 per share 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 $56. Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Selected Dividend Transactions, Stock. Split Selected transoctions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows. Journalze 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 2 for 1 and reduced the par from $100 to $50 per share. After the split, there were 300,000 common shares outstanding. Jan. 8 Apr. 30. Declared semiannual dividends of $0.60 per share on 16,000 shares of preferred stock and $0.22 per share on the common stock payable on July 1. Apr. 30 July 1. Paid the cash dividends. July 1 July 1. Paid the casin dividends. July 1 Oct. 31. Deciared semiannual dividends of $0.60 per share on the preferred stock and $0.11 per share 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 $56. Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
