Please avaoid solution image format thanks Journalize the transactions.If no entry is required, type "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 $52 to $26 per share. After the split, there were 141,000 common shares outstanding.Jan. 8No Entry RequiredApr. 30. Declared semiannual dividends of $1.00 on 10,000 shares of preferred stock and $0.06 on the common stock payable on July 1.Apr. 30 Cash DividendsCash Dividends PayableJuly 1. Paid the cash dividends.July 1 Cash DividendsCashOct. 31. Declared semiannual dividends of $1.00 on the preferred stock and $0.03 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair marketvalue of the common stock is estimated at $47.Cash dividendsStock dividendsDec. 31. Paid the cash dividends and issued the certificates for the common stock dividend.PaymentIssuance00 0000 00

Cash Dividend - Cash Dividend is the amount distributed by the company from the accumulated profit…

Answered: Journalize the transactions. If no…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section18.3: Capital Stock

Problem 1OYO

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Assume that Lily Corporation has outstanding 1,500 shares of 150 par callable preferred stock that were issued at 175 per share, and that no dividends are in arrears. If the call price is 185 per share, what journal entry will Lily make to record the recall of these shares?
Nutritious Pet Food Companys board of directors declares a 2-for-1 stock split on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the new par value of the shares and how many shares are outstanding after the split? What is the total amount of equity before and after the split?
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
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 135,000 common shares outstanding. Jan. 8 No Entry Required fill in the blank adc27d014fd3f98_2 fill in the blank adc27d014fd3f98_3 No Entry Required fill in the blank adc27d014fd3f98_5 fill in the blank adc27d014fd3f98_6 Apr. 30. Declared semiannual dividends of $1.70 per share on 9,000 shares of preferred stock and $0.10 per share on the common stock payable on July 1. Apr. 30 Cash Dividends fill in the blank ad2a5afcefb4015_2 fill in the blank ad2a5afcefb4015_3 Cash Dividends Payable fill in the blank ad2a5afcefb4015_5 fill in the blank…
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. For a compound transaction, 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 $80 to $40 per share. After the split, there were 150,000 common shares outstanding. Jan. 8 fill in the blank 2d61f7fb906a068_2 fill in the blank 2d61f7fb906a068_4 Apr. 30. Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1. Apr. 30 fill in the blank 548987ff1fcff99_2 fill in the blank 548987ff1fcff99_4 July 1. Paid the cash dividends. July 1 fill in the blank c6a023f9cffef8f_2 fill in the blank c6a023f9cffef8f_4 Oct. 31. Declared semiannual…
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 20Y8, were as follows: 1. Journalize the selected transactions. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Issued 15,000 shares of $20 par common stock at $30, receiving cash.
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On November 27, the board of directors of Marin Company declared a $0.40 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Marin has 26,500 shares of $1 par common stock outstanding at November 27.Journalize the entries needed on the declaration and payment dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)

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