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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 $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 on the preferred stock and $0.16 on the common stock (before the stock dividend). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $53.
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.

Journal

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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.

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PAGE 10

JOURNAL

ACCOUNTING EQUATION

Score: 131/163

DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY

1

✔Cash Dividends

2

✔Cash Dividends Payable

3

✔Cash Dividends Payable

4

✔ cash

5

✔Stock Dividends

6

✔Cash Dividends Payable

7

✔Stock Dividends

8

✔Stock Dividends Distributable

9

10

✔Cash Dividends Payable

11

✔cash

12

✔Stock Dividends Distributable

13

✔ common stock

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