The following are selected transactions made by PT Perahu Layar during the year current fiscal. 3 Jan. Split the common stock from 2 to 1 and reduce the par value from Rp50,000 to IDR 25,000. 20 Feb. Purchased 50,000 shares of common stock owned by the company for Rp. 32,000 and record it at cost. Announced a semi-annual dividend of Rp800 for 30,000 shares preference and CU140 for common stock which was recorded on May 15 and paid May 1 June 1st. June 1 Pay cash dividends. 5 Aug. Sold 42,000 treasury shares for Rp39,000 and received cash. 15 Nov. Announced semi-annual dividend of Rp800 for preferred stock saham Rp150 for blasa shares (before stock dividends). In addition, a 2% common stock and dividend is declared for the outstanding common stock. Fair market value of shares the usual estimate is Rp. 40,000. 31 Dec. Paying cash dividends and issuing certificates for common stock dividends. Instruction Prepare journal entries for the above transactions.

The following are selected transactions made by PT Perahu Layar during the year current fiscal. 3 Jan. Split the common stock from 2 to 1 and reduce the par value from Rp50,000 to IDR 25,000. 20 Feb. Purchased 50,000 shares of common stock owned by the company for Rp. 32,000 and record it at cost. Announced a semi-annual dividend of Rp800 for 30,000 shares preference and CU140 for common stock which was recorded on May 15 and paid May 1 June 1st. June 1 Pay cash dividends. 5 Aug. Sold 42,000 treasury shares for Rp39,000 and received cash. 15 Nov. Announced semi-annual dividend of Rp800 for preferred stock saham Rp150 for blasa shares (before stock dividends). In addition, a 2% common stock and dividend is declared for the outstanding common stock. Fair market value of shares the usual estimate is Rp. 40,000. 31 Dec. Paying cash dividends and issuing certificates for common stock dividends. Instruction Prepare journal entries for the above transactions.

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 9SPA

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