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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 $100 to $50 per share. After the split, there were 300,000 common shares outstanding. 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. Jul. Paid the cash dividends Oct 31 Declared 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. Journalize the transactions. If no entry is required, simply skip to the next transaction., Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date.

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 $100 to $50 per share. After the split, there were 300,000 common shares outstanding. 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. Jul. Paid the cash dividends Oct 31 Declared 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. Journalize the transactions. If no entry is required, simply skip to the next transaction., Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 4SEA: STOCK DIVIDENDS Kaufman Company currently has 200,000 shares of 1 par common stock outstanding. On...
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Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. How does grading work? PAGE 10 JOURNAL Score: 132/163 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Apr. 30 Cash Dividends 22,000.00 1 Cash Dividends Payable 24,690.00 2 Jul. 1 Cash Dividends Payable 24,690.00 3 4 Cash 24,690.00 5 Oct. 31 Cash Dividends 23,280.00 Cash Dividends Payable 23,280.00 6 7 Stock Dividends 106,750.00 Stock Dividends Distributable 60,480.00 9 Paid-In Capital in Excess of Par-Common Stock 47,520.00 Dec. 31 Cash Dividends Payable 23,280.00 10 11 Cash 20,920.00 12 Stock Dividends Distributable 59,220.00 13 Common Stock 60,480.00
Transcribed Image Text:Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. How does grading work? PAGE 10 JOURNAL Score: 132/163 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Apr. 30 Cash Dividends 22,000.00 1 Cash Dividends Payable 24,690.00 2 Jul. 1 Cash Dividends Payable 24,690.00 3 4 Cash 24,690.00 5 Oct. 31 Cash Dividends 23,280.00 Cash Dividends Payable 23,280.00 6 7 Stock Dividends 106,750.00 Stock Dividends Distributable 60,480.00 9 Paid-In Capital in Excess of Par-Common Stock 47,520.00 Dec. 31 Cash Dividends Payable 23,280.00 10 11 Cash 20,920.00 12 Stock Dividends Distributable 59,220.00 13 Common Stock 60,480.00
Chapter 12 Homework еBook Print Item Instructions 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 $100 to $50 per share. After the split, there were 300,000 common shares outstanding. Apг. 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. Jul. 1 Paid the cash dividends. Oct. 31 Declared 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. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. Journal Shaded cells have feedback. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. How does grading work? DAGE 10
Transcribed Image Text:Chapter 12 Homework еBook Print Item Instructions 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 $100 to $50 per share. After the split, there were 300,000 common shares outstanding. Apг. 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. Jul. 1 Paid the cash dividends. Oct. 31 Declared 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. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. Journal Shaded cells have feedback. Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date. How does grading work? DAGE 10
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