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Selected Dividend Transactions, Stock Split Salected transactions completed by Canyon Ferry Boating Corporation during the...

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Accounting

Selected Dividend Transactions, Stock Split
Salected transactions completed by Canyon Ferry Boating Corporation during the eurrent figeal year are as follows:
Journalize the transactions.
Jan. 8. Split the common stock 2 for 1 and reduced the par from $56 to $28 per share. After the split, there were 87,000 common shares outstanding
Jan. 8 No Entry Required
Voneak My Work
Review the effect of stock splits on equity accounts.
Apr. 30. Declared semiannual dividends of $1.4 on 6,000 shares of preferred stock and $0.06 on the common stock payable on July 1.
When a company declares a dividend it becomes legally binding.
July 1. Paid the cash dividends.
July 1 Cash Dividends Payable
What are the stockholders' receiving from the corporation?
Cash Dividends Gash Dividends
Cash Dividends Payable
Stack dividends Stack Dividends v
Stack Dividends Distributable
Paid-In Capital in Exass of Par-Common Stack
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roneck My Work
On the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity?
Dec. 31. Paid the cash dividends and issued the cartificates for the common stock dividend.
Payment Cash Dividends Payable
Cash
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