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 150,000 common shares outstanding.Apr.30. Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1.July1. Paid the cash dividends.Oct.31. Declared semiannual dividends of $0.75 on the preferred stock and $0.14 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 $52.Dec.31. Paid the cash dividends and issued the certificates for the common stock dividend.Journalize the transactions.

Journal entries are the primary reporting of the transactions of the business in the books of the…

Answered: Selected transactions completed by…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

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Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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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 150,000 common shares outstanding.
Apr.	30.	Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1.
July	1.	Paid the cash dividends.
Oct.	31.	Declared semiannual dividends of $0.75 on the preferred stock and $0.14 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 $52.
Dec.	31.	Paid the cash dividends and issued the certificates for the common stock dividend.

Journalize the transactions.

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