Entries for Selected Corporate Transactions

Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows:

Journalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

Jan. 5. Split the common stock 4 for 1 and reduced the par from $160 to $40 per share. After the split, there were 540,000 common shares outstanding.

Date	Account	Debit	Credit
Jan. 5.	CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockPreferred Stock
	CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockTreasury Stock

Mar. 10. Purchased 43,000 shares of the corporation's own common stock at $45, recording the stock at cost.

Date	Account	Debit	Credit
Mar. 10.	CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock
	CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock

Apr. 30. Declared semiannual dividends of $1.50 on 35,000 shares of preferred stock and $0.27 on the common stock to stockholders of record on May 15, payable on June 15.

Date	Account	Debit	Credit
Apr. 30.	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required
	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required

June 15. Paid the cash dividends.

Date	Account	Debit	Credit
June 15.	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required
	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required

Aug. 20. Sold 31,000 shares of treasury stock at $49, receiving cash.

Date	Account	Debit	Credit
Aug 20.	CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock
	CashCommon StockNo Entry RequiredPaid-In Capital In Excess of Par-Common StockTreasury Stock
	CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockRetained Earnings

Oct. 15. Declared semiannual dividends of $1.50 on the preferred stock and $0.33 on the common stock (before the stock dividend).

Date	Account	Debit	Credit
Oct. 15.	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required
	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required

Oct. 15. A 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $51.

Date	Account	Debit	Credit
Oct. 15.	CashNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock
	CashCommon StockNo Entry RequiredStock DividendsStock Dividends Distributable
	Cash DividendsCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockTreasury Stock

Dec. 19. Paid the cash dividends.

Date	Account	Debit	Credit
Dec. 19.	CashCash DividendsCash Dividends PayableCommon StockNo Entry Required
	CashCash Dividends PayableCommon StockNo Entry RequiredTreasury Stock

Dec. 19. Issued the certificates for the common stock dividend.

Date	Account	Debit	Credit
Dec. 31.	CashNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock
	Common StockNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock