Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need everything beyond October 15 youll see that they are empty slots I included all the information I had Entries for Selected Corporate Transactions

i need everything beyond October 15
youll see that they are empty slots
I included all the information I had
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 3 for 1 and reduced the pat from $60 to $20 per share. After the split, there were: 375,000 common shares outstanding Date Account Debit Credit Jan. S. No Entry Required 0 0 No Entry Required 0 0 Mar. 10. Purchased 30.000 shares of the corporation's own common stock at $26, recording the stock at cost. Date Account Debit Credit Mor. 10 Treasury Stock 780,000 0 Cash 0 780,000 Apr. 30. Declared semiannual dividends of $3.00 on 50,000 shares of preferred stock and $0.09 on the common stock to stockholders of record on May 15, payable on June 15. Date Account Debit Credit Apr 30. Cash Dividends 181,050 0 Cash Dividends Payable 0 181,050 June 15. Paid the cash dividends. Date Account Debit Credit June 15. Cash Dividends Payable 181,050 0 Cash 181,050 Aug. 20. Sold 22,000 shares of treasury stock at $34, receiving cash. Date Account Debit Credit Aug 20. Cash 748,000 0 Treasury Stock 0 572,000 Paid-In Capital from Sale of reasury Stock 0 176,000 Oct. 15. Declared semiannual dividends of $3.00 on the preferred stock and $0.15 on the common stock (before the stock dividend). Date Account Debit Credit Oct. 15. Cash Dividends 0 Cash Dividends Payable 0 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 $36. Data Account Debit Credit Oct. 15. Stock Dividends 0 Stock Dividends Distributable Paid In Capital in Excess of sor-Common Stock O Dec. 19. Pald the cash dividends. Date Account Debit Credit Dec. 19, Cash Dividends Payable 0 Cash Dec. 19. Issued the certificates for the common stock dividend. Date Account Debit Credit Dec. 31. Stock Dividends Distributable 0 Common Stock 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems Connecting Careers Systems And Analytics

Authors: Arline A. Savage, Danielle Brannock, Alicja Foksinska

1st Edition

1119744474, 9781119744474

More Books

Students also viewed these Accounting questions

Question

=+b) With what standard deviation?

Answered: 1 week ago