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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. 8 No Entry Required Apr. 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 Dividends Cash Dividends Payable July 1. Paid the cash dividends. July 1 Cash Dividends Cash 88 Oct. 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 market value of the common stock is estimated at $47. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance

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. 8 No Entry Required Apr. 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 Dividends Cash Dividends Payable July 1. Paid the cash dividends. July 1 Cash Dividends Cash 88 Oct. 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 market value of the common stock is estimated at $47. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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. 8 No Entry Required Apr. 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 Dividends Cash Dividends Payable July 1. Paid the cash dividends. July 1 Cash Dividends Cash Oct. 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 market value of the common stock is estimated at $47. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance 00 00 00 00
Transcribed Image Text: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. 8 No Entry Required Apr. 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 Dividends Cash Dividends Payable July 1. Paid the cash dividends. July 1 Cash Dividends Cash Oct. 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 market value of the common stock is estimated at $47. Cash dividends Stock dividends Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Issuance 00 00 00 00
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