Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, type "No Entry Required" and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 96,000 common shares outstanding. Jan. 8 Apr. 30. Declared semiannual dividends of $1.2 on 7,000 shares of preferred stock and $0.14 on the common stock payable on July 1. Apr. 30 dropdown July 1. Paid the cash dividends. July 1 Oct. 31. Declared semiannual dividends of $1.2 on the preferred stock and $0.11 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 $54. Cash Dividends Stock dividends 00

Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, type "No Entry Required" and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 96,000 common shares outstanding. Jan. 8 Apr. 30. Declared semiannual dividends of $1.2 on 7,000 shares of preferred stock and $0.14 on the common stock payable on July 1. Apr. 30 dropdown July 1. Paid the cash dividends. July 1 Oct. 31. Declared semiannual dividends of $1.2 on the preferred stock and $0.11 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 $54. Cash Dividends Stock dividends 00

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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