Selected transactions completed by Genes Boating Corporation during the current fiscal year are as follows Feb 10 Split the common stock 3 for 1 and reduced the par from $60 to $20 per share After the split, there were 300,000 common shares outstanding May 1 Declared semiannual dividends of $2 00 o...

Feb 10 No entry required The stockholders ledger would be revised to reco ...

Selected transactions completed by Genes Boating Corporation during the current fiscal year are as follows: Feb. 10.

Question:

Selected transactions completed by Gene’s Boating during the current fiscal year are as follows:
Feb. 10. Split the 3 for 1 and reduced the par from $60 to $20 per share. After the split, there were 300,000 common shares outstanding.
May 1. Declared semiannual dividends of $2.00 on 40,000 shares of preferred stock and $0.12 on the payable on June 15.
June 15. Paid the cash dividends.
Nov. 1. Declared semiannual dividends of $2.00 on the preferred stock and $0.08 on the (before the stock In addition, a 2% was declared on the outstanding. The fair market value of the is estimated at $28.
Dec. 15. Paid the cash dividends and issued the certificates for the the transactions.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...