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eBook Calculator 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 3 for 1 and reduced the par from $60 to $20 per share. After the split, there were 93,000 common shares outstanding. Jan. 8 No Entry Required No Entry Required Feedback Apr. 30. Declared semiannual dividends of $1.70 per share on 7,000 shares of preferred stock and $0.07 per share on the common stock payable on July 1. Apr. 30 Cash Dividends 18.410 Cash Dividends Payable 18.410 ✓ Feedback July 1. Paid the cash dividends. July 1 Cash Dividends Payable 18,410 Cash 18,410 Feedback Oct. 31. Declared semiannual dividends of $1.70 per share on the preferred stock and $0.05 per Share on the common stock (before the stock dividend). In addition, a

Answer 1

Date	Accounts Titles and explanation	Debit (in $ )	Credit (in $ )
Jan. 8	No Entry Required	-
	No Entry Required		-
Apr. 30	Cash Dividends ( $ 1.70 x 7,000 shares ) + ( 93,000 shares x $ 0.07 )	$ 18,410
	Cash Dividends payable		$ 18,410
July 1	Cash Dividends payable	$ 18,410
	Cash		$ 18,410
Oct. 31	Cash Dividends ( $ 1.70 x 7,000 shares ) + ( 93,000 shares x $ 0.05 )	$ 16,550
	Cash Dividends payable		$ 16,550
Oct. 31	Stock Dividends ( 93,000 shares x 1% x $ 36 )	$ 33,480
	Stock Dividends Distributable             ( 93,000 shares x 1% x $ 20)		$ 18,600
	Paid in Capital in Excess of par - common Stock		$ 14,880
Dec. 31	Cash Dividends payable	$ 16,550
	Cash		$ 16,550
Dec. 31	Stock Dividends Distributable	$ 18,600
	Common Stock		$ 18,600