Description of this paper

Transactions completed during the current fiscal year:

Description

solution


Question

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.;Jan 22: Declared a dividend of $1.50 per share on the outstanding shares of common stock.;Feb 8: Paid the dividend declared on Jan 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 Sep 1

 

Paper#26592 | Written in 18-Jul-2015

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