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 123,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.27 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oc. 31 Declared semiannual dividends of $0.80 on the preferred stock and $0.15 on the common stock (before the stock dividend). In addition, a 3% common stock dividend was declared on the common stock outstanding. The fair market value the common stock is estimated at $51. Dec. Paid the cash dividends and issued the certificates for the common stock dividend. 31
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 123,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.27 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oc. 31 Declared semiannual dividends of $0.80 on the preferred stock and $0.15 on the common stock (before the stock dividend). In addition, a 3% common stock dividend was declared on the common stock outstanding. The fair market value the common stock is estimated at $51. Dec. Paid the cash dividends and issued the certificates for the common stock dividend. 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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 123,000 common shares outstanding.
Apr.
30
Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.27 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 $0.15 on the common stock (before
the stock dividend). In addition, a 3% common stock dividend was declared on the common stock
outstanding. The fair market value of the common stock is estimated at $51.
Dec.
31
Paid the cash dividends and issued the certificates for the common stock dividend.
Transcribed Image Text:JOURNAL
ACCOUNTING EQUATION
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
LIABILITIES
EQUITY
1
2
3
4
5
6
7
8
9
10
11
12
13
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