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Cash Dividends, Stock Dividend, and Stock Split During the year ended December 31, 20, Chol...

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Accounting

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Cash Dividends, Stock Dividend, and Stock Split During the year ended December 31, 20, Chol Company completed the following transactions: Apr. 15 Declared a semiannual dividend of $1.2 per share on preferred stock and $0.2 per share on common stock to shareholders of record on May May 10 Pald the cash dividends. Oct. 15 Nov. 20 Pald the cash dividends. 5, payable on May 10. Currently, 6,700 shares of $50 par preferred stock and 76,000 shares of $1 par common stock are outstanding. Declared semiannual dividend of $1.2 per share on preferred stock and $0.2 per share on common stock to shareholders of record on November 5, payable on November 20. 22 Declared a 10% stock dividend to common shareholders of record on December 8, distributable on December 16, Market value of the common stock was estimated at $8 per share Dec. 16 Issued certificates for common stock dividend. 20 Board of directors declared a two-for-one common stock split. Required: Prepare journal entries for the transactions. If an amount box does not require an entry, leave it blank. Page: 1 DOC. POST O EDEBIT CREDIT DATE ACCOUNT TITLE 1 Apr. 15 Cash Dividends Preferred Dividends Payable Common Dividends Payable

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