Question

In: Accounting

Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...

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 $70 to $35 per share. After the split, there were 131,000 common shares outstanding.
Apr. 30 Declared semiannual dividends of $0.80 on 18,500 shares of preferred stock and $0.22 on the common stock payable on July 1.
Jul. 1 Paid the cash dividends.
Oct. 31 Declared semiannual dividends of $0.80 on the preferred stock and $0.13 on the common stock (before the stock dividend). In addition, a 4% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50.
Dec. 31 Paid the cash dividends and issued the certificates for the common stock dividend.

Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. Enter the October 31 and December 31 transactions as two separate journal entries on each date.

Solutions

Expert Solution


Related Solutions

Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:
Selected Dividend Transactions, Stock SplitSelected 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 2 for 1 and reduced the par from $48 to $24 per share. After the split, there were 87,000 common shares outstanding.Jan. 8No...
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...
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 141,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80...
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...
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 123,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 per share on 16,500 shares of preferred stock and $0.27 per share on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared...
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...
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 141,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80...
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...
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 123,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.27 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80...
Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:...
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 $48 to $16 per share. After the split, there were 135,000 common shares outstanding. Jan. 8...
chp12-13 ?instructuions Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are...
chp12-13 ?instructuions 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 141,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 on 16,500 shares of preferred stock and $0.31 on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends...
Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current...
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 2 for 1 and reduced the par from $48 to $24 per share. After the split, there were 126,000...
Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current...
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 $42 to $14 per share. After the split, there were 111,000 common shares outstanding. Jan....
Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current...
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 $28 to $14 per share. After the split, there were 72,000 common shares outstanding. Jan....
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT