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Question 1: Transactions completed by Boating Corporation during the fiscal year 2023: ...

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Accounting

Question 1: Transactions completed by Boating Corporation during the fiscal year 2023:
Required 1: Journalize the transactions
1. Jan. 8. Split the common stock 2 for 1 and reduced the par from $100 to $50 per share. After the split, there were 200,000 common shares outstanding.
2. Apr. 30. Declared semiannual dividends of $0.85 on 18,000 shares of preferred stock and $0.40 on the common stock payable on July 1.
3. July 1. Paid the cash dividends.
4. Oct. 31. Declared semiannual dividends of $0.85 on the preferred stock and $0.21 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 $55.
5. Nov.20. Issued 25,000 shares of common stock for $55 per share (Par value = $50).
6. Dec. 5. Purchased 30,000 shares of treasury stock for $45 per share.
7. Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend.
Required 2: Prepare the Stockholder's Equity section of the December 31,2023. Stockholder's Equity section - Balance sheet (Partial)
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