Journalize the following selected transactions completed during the current fiscal year: Jan. 3 The board of directors reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 400,000. 22 Declared a dividend of $2.00 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30). Oct. 1 Issued the certificates for the common stock dividend declared on September 1. (for each Journal Entry, omit the step of providing a brief explanation) JOURNAL Date Post. DR CR Jan 3 Jan 22 Feb 8 Sept 1 Oct 1
Journalize the following selected transactions completed during the current fiscal year:
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Jan. 3 |
The board of directors reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 400,000. |
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22 |
Declared a dividend of $2.00 per share on the outstanding shares of common stock. |
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Feb. 8 |
Paid the dividend declared on January 22. |
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Sep. 1 |
Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30). |
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Oct. 1 |
Issued the certificates for the common stock dividend declared on September 1. |
(for each
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JOURNAL
Date Post. DR CR |
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Jan 3 |
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Jan 22 |
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Feb 8 |
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Sept 1 |
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Oct 1 |
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