Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Jan. 8 Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 141,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80 on the preferred stock and $0.16 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 $53. Dec. 31 Paid the cash dividends and issued the certificates for the common stock dividend. Journalize the transactions
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Jan. 8 Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 141,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80 on the preferred stock and $0.16 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 $53. Dec. 31 Paid the cash dividends and issued the certificates for the common stock dividend. Journalize the transactions
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter11: Stockholders' Equity
Section: Chapter Questions
Problem 11.1E
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Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:
Jan. | 8 | Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 141,000 common shares outstanding. |
Apr. | 30 | Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. |
Jul. | 1 | Paid the cash dividends. |
Oct. | 31 | Declared semiannual dividends of $0.80 on the preferred stock and $0.16 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 $53. |
Dec. | 31 | Paid the cash dividends and issued the certificates for the common stock dividend. |
Journalize the transactions
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