Entries for Selected Corporate Transactions
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows:
Instructions:
Journalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank.
Jan. 5. Split the common stock 4 for 1 and reduced the par from $100 to $25 per share. After the split, there were 400,000 common shares outstanding.
Date | Account | Debit | Credit |
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Jan. 5. | No Entry Required | ||
No Entry Required |
Mar. 10. Purchased 32,000 shares of the corporation's own common stock at $28, recording the stock at cost.
Date | Account | Debit | Credit |
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Mar. 10. | |||
Apr. 30. Declared semiannual dividends of $3.7 on 60,000 shares of preferred stock and $0.34 on the common stock to stockholders of record on May 15, payable on June 15.
Date | Account | Debit | Credit |
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Apr. 30. | |||
June 15. Paid the cash dividends.
Date | Account | Debit | Credit |
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June 15. | |||
Aug. 20. Sold 23,000 shares of treasury stock at $36, receiving cash.
Date | Account | Debit | Credit |
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Aug 20. | |||
Oct. 15. Declared semiannual dividends of $3.7 on the preferred stock and $0.4 on the common stock (before the stock dividend).
Date | Account | Debit | Credit |
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Oct. 15. | |||
Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $38.
Date | Account | Debit | Credit |
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Oct. 15. | |||
Dec. 19. Paid the cash dividends.
Date | Account | Debit | Credit |
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Dec. 19. | |||
Dec. 19. Issued the certificates for the common stock dividend.
Date | Account | Debit | Credit |
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Dec. 31. | |||
Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal...
Entries for Selected Corporate Transactions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows. Instructions: Journalize the transactions. If no entry is required, select "No entry required" from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 15. Split the common stock 5 for 1 and reduced the par from $75 to $15 per share. After the...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan. 5. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. Mar. 10. Purchased 41,400 shares of the corporation’s own common stock at $28, recording the stock at cost. Apr. 30. Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock...
Instructions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan. 5. Mar 10. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,170,000 common shares outstanding. Purchased 39,000 shares of the corporation's own common stock at $28, recording the stock at cost. Declared semiannual dividends of $0.85 on 72,300 shares of preferred stock and $0 10 on the common stock...
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan. 5. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. Mar. 10. Purchased 41,400 shares of the corporation’s own common stock at $28, recording the stock at cost. Apr. 30. Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock...
Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows. 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. Jan. 8. Split the common stock 2 for 1 and reduced the par from $40 to $20 per share. After the split, there were 129,000 common shares outstanding. Jan....
Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,279,500 common shares outstanding. Feb. 28 Purchased 39,200 shares of the corporation’s own common stock at $27, recording the stock at cost. May 1 Declared semiannual dividends of $0.90 on 75,000 shares of preferred stock and $0.15 on the common stock...
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 157,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.65 on 19,000 shares of preferred stock and $0.24 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.65...
Instructions Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows: Jan. 9 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the Feb. 28 split, there were 1,200,000 common shares outstanding. Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost. Declared semiannual dividends of $0.80 per share on 75,000 shares of preferred stock and $0.12 per share on...
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 157,000 common shares outstanding. Declared semiannual dividends of $0.65 per share on 19,000 shares of preferred stock and $0.24 per share on the common stock payable on July 1. Apr. 30 Jul. 1 Paid the cash dividends. Oct. 31 Declared...
Selected Dividend Transactions, Stock Split 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 $54 to $18 per share. After the split, there were 114,000...