Critical Thinking Assignment #$7$

Cody Mountain Sports is looking to raise additional funding for their business to expand. They will be able to

acquire cash in addition to a new vehicle for their employees to use for travel to guided tours. Before the

following transactions, their balance of common stock on April $1$st$,2021$ was $$100,000$ and included $100,000$

shares of common stock issued and outstanding. There was no Paid$-$In Capital In Excess of Par$-$Common

and no preferred stock issued at this point. Cody Mountain Sports had the following transactions in April $2021$:

Apr. $1-$ Issued $60,000$ shares of $$1$ par value common stock for a total of $$120,000.$

Apr. $9-$ Issued $20,000$ shares of $4\%,$$$2$ par value preferred stock in exchanged for the truck with

market value of $$50,000.$

Apr. $15-$ Declared total cash dividends of $$8,000.$

April $19-$ Declared a $3\%$ common stock dividend when the market value of the stock was $$\frac{4\mathrm{.}50}{?}$ share.

Apr $30-$ Paid the cash dividends.

Apr. $30-$ Distributed the stock dividend.

Requirements:

$1,$Journalize all transactions