Selected transactions completed by Breezeway Construction during the current fiscal year are as follows:Required:Journalize the transactions. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank or enter "0".February 3: Split the common stock 2-for-1 and reduced the par from $40 to $20 per share. After the split, there were 250,000 common shares outstanding. Feb. 3April 10: Declared semiannual dividends of $1.50 on 18,000 shares of preferred stock and $0.08 on the common stock to stockholders of record on May 10, payable on June 9.Apr. 10June 9: Paid the cash dividends.June 9October 10: Declared semiannual dividends of $1.50 on the preferred stock and $0.04 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 thecommon stock is estimated at $36.Oct. 10Oct. 10December 9: Paid the cash dividends and issued the certificates for the common stock dividend.Dec. 9Dec. 9W 10

1. Split the Share from $40 to $20 No Entry (Because for split the share there is no any specific…

Answered: il 10: Declared semiannual dividends of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Selected transactions completed by Breezeway Construction during the current fiscal year are as follows:

Required:

Journalize the transactions. If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank or enter "0".

February 3: Split the common stock 2-for-1 and reduced the par from $40 to $20 per share. After the split, there were 250,000 common shares outstanding.

Feb. 3
April 10: Declared semiannual dividends of $1.50 on 18,000 shares of preferred stock and $0.08 on the common stock to stockholders of record on May 10, payable on June 9.
Apr. 10
June 9: Paid the cash dividends.
June 9
October 10: Declared semiannual dividends of $1.50 on the preferred stock and $0.04 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 $36.
Oct. 10
Oct. 10
December 9: Paid the cash dividends and issued the certificates for the common stock dividend.
Dec. 9
Dec. 9
W 10

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