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Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows...

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Accounting

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Selected transactions completed by Primo Discount Corporation during the current fiscal year are as follows Jan 9 Feb 28 May 1 Jul 10 Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,200,000 common shares outstanding Purchased 40,000 shares of the corporation's own common stock at $28, recording the stock at cost Declared semiannual dividends of $0.80 per share on 75,000 shares of preferred stock and $0.12 per share on the common stock to stockholders of record on June 1, payable on July 10 Paid the cash dividends Sold 30,000 shares of treasury stock at $34 receiving cash: Declared semiannual dividends of $0.80 per share on the preferred stock and $0.12 per share on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36 Paid the cash dividends and issued the certificates for the common stock dividend Sep 7 Oct 1 Dec 1 Journalize the transactions. I 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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