169.Journalize the following selected transactions completed during the current fiscal year:
Mar. 4
The board of directors of New Town, Inc. declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.
?
26
Declared a dividend of $1.75 per share on the outstanding shares of common stock.
Apr. 5
Paid the dividend declared on March 26.
Nov. 1
Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $25).
Dec. 1
Issued the certificates for the common stock dividend declared on November 1.
170.Prepare entries to record the following selected transactions completed during the current fiscal year:
Feb.1The board of directors declared a stock split which reduced the par of common sharesfrom $100 to $20. This action increased the number of outstanding shares to 500,000.
11Purchased 25,000 shares of the company's own stock at $44, recording the treasurystock at cost.
May 1Declared a dividend of $2.50 per share on the outstanding shares of common stock.
15Paid the dividend declared on May 1.
Oct.19Declared a 2% stock dividend on the common stock outstanding (the fair market valueof the stock to be issued is $55).
Nov. 12Issued the certificates for the common stock dividend declared on October 19.
171.Journalize the following selected transactions completed during the current fiscal year:
Jan. 3The board of directors declared a stock split that reduced the par of common sharesfrom $100 to $20. This action increased the number of outstanding shares to 400,000.
22Declared a dividend of $1.75 per share on the outstanding shares of common stock.
Feb. 8Paid the dividend declared on January 22.
Sept. 1Declared a 5% stock dividend on the common stock outstanding (the fair market valueof the stock to be issued is $30).
Oct. 1Issued the certificates for the common stock dividend declared on September 1.
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