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 $40 to $10 per share. After the split, there were 320,000 common shares outstanding.

DateAccountDebitCreditJan. 5.CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockPreferred Stock No Entry Requiredfill in the blank 2fill in the blank 3 CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockTreasury Stock No Entry Requiredfill in the blank 5fill in the blank 6

Mar. 10. Purchased 26,000 shares of the corporation's own common stock at $15, recording the stock at cost.

DateAccountDebitCreditMar. 10.CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock Treasury Stock fill in the blank 8fill in the blank 9 CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock Cashfill in the blank 11fill in the blank 12

Apr. 30. Declared semiannual dividends of $2.50 on 55,000 shares of preferred stock and $0.19 on the common stock to stockholders of record on May 15, payable on June 15.

DateAccountDebitCreditApr. 30.CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividendsfill in the blank 14fill in the blank 15 CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividends Payablefill in the blank 17fill in the blank 18

June 15. Paid the cash dividends.

DateAccountDebitCreditJune 15.CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividends Payablefill in the blank 20fill in the blank 21 CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cashfill in the blank 23fill in the blank 24

Aug. 20. Sold 19,000 shares of treasury stock at $20, receiving cash.

DateAccountDebitCreditAug 20.CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockTreasury Stock Cashfill in the blank 26fill in the blank 27 CashCommon StockNo Entry RequiredPaid-In Capital In Excess of Par-Common StockTreasury Stock Treasury Stock fill in the blank 29fill in the blank 30 CashCommon StockNo Entry RequiredPaid-In Capital from Sale of Treasury StockRetained Earnings Paid-In Capital from Sale of Treasury Stockfill in the blank 32fill in the blank 33

Oct. 15. Declared semiannual dividends of $2.50 on the preferred stock and $0.25 on the common stock (before the stock dividend).

DateAccountDebitCreditOct. 15.CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividendsfill in the blank 35fill in the blank 36 CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividends Payablefill in the blank 38fill in the blank 39

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 $22.

DateAccountDebitCreditOct. 15.CashNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock Stock Dividendsfill in the blank 41fill in the blank 42 CashCommon StockNo Entry RequiredStock DividendsStock Dividends Distributable Stock Dividends Distributable fill in the blank 44fill in the blank 45 Cash DividendsCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockTreasury Stock Paid-In Capital in Excess of Par-Common Stockfill in the blank 47fill in the blank 48

Dec. 19. Paid the cash dividends.

DateAccountDebitCreditDec. 19.CashCash DividendsCash Dividends PayableCommon StockNo Entry Required Cash Dividends Payablefill in the blank 50fill in the blank 51 CashCash Dividends PayableCommon StockNo Entry RequiredTreasury Stock Cashfill in the blank 53fill in the blank 54

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

DateAccountDebitCreditDec. 31.CashNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock Stock Dividends Distributablefill in the blank 56fill in the blank 57 Common StockNo Entry RequiredStock DividendsStock Dividends DistributableTreasury Stock Common Stockfill in the blank 59fill in the blank 60