On December 31, 2024, Carla Vista Corporation's common shares were trading for $39, and the company had the following shareholder's equity accounts: Common Shares (no par value, unlimited authorized, 311,000 issued, and outstanding) Contributed Surplus-Common Shares Retained earnings (a) (b) $6,531,000 Prepare the journal entries for the following independent transactions. (List all debit entries before credit entries. Credit account titles automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles a enter o for the amounts. Record journal entries in the order presented in the problem.) (c) 1,181,000 19,660,000 A stock dividend of 5% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $39 on January 1, 2025. A stock dividend of 100% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $39 on January 1, 2025. A 3-for-1 stock split is declared on January 1, 2025 and issued on January 31 to the shareholders of record on January 15.
On December 31, 2024, Carla Vista Corporation's common shares were trading for $39, and the company had the following shareholder's equity accounts: Common Shares (no par value, unlimited authorized, 311,000 issued, and outstanding) Contributed Surplus-Common Shares Retained earnings (a) (b) $6,531,000 Prepare the journal entries for the following independent transactions. (List all debit entries before credit entries. Credit account titles automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles a enter o for the amounts. Record journal entries in the order presented in the problem.) (c) 1,181,000 19,660,000 A stock dividend of 5% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $39 on January 1, 2025. A stock dividend of 100% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $39 on January 1, 2025. A 3-for-1 stock split is declared on January 1, 2025 and issued on January 31 to the shareholders of record on January 15.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On December 31, 2024, Carla Vista Corporation's common shares were trading for $39, and the company had the following
shareholder's equity accounts:
Common Shares (no par value, unlimited authorized,
311,000 issued, and outstanding)
Contributed Surplus-Common Shares
Retained earnings
$6,531,000
(b)
1,181,000
Prepare the journal entries for the following independent transactions. (List all debit entries before credit entries. Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and
enter o for the amounts. Record journal entries in the order presented in the problem.)
(c)
19,660,000
(a)
A stock dividend of 5% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of
record on January 15. The common shares were trading for $39 on January 1, 2025.
A stock dividend of 100% is declared at their fair value on January 1, 2025 and issued on January 31 to the shareholders of
record on January 15. The common shares were trading for $39 on January 1, 2025.
A 3-for-1 stock split is declared on January 1, 2025 and issued on January 31 to the shareholders of record on January 15.
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