Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Journalize the transactions. If no entry is required, type "No Entry Required" and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 8. Split the common stock 3 for 1 and reduced the par from $84 to $28 per share. After the split, there were 90,000 common shares outstanding. Jan. 8 No Entry Required 0 No Entry Required 0 Feedback Check My Work Review the effect of stock splits on equity accounts. Apr. 30. Declared semiannual dividends of $1.3 on 6,000 shares of preferred stock and $0.09 on the common stock payable on July 1. Apr. 30 Cash Dividends 15,900 Cash Dividends Payable 15,900 July 1. Paid the cash dividends. July 1 Cash Dividends Payable 15,900 Cash 15,900 Feedback Check My Work Correct Oct. 31. Declared semiannual dividends of $1.3 on the preferred stock and $0.06 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $50. Cash Dividends Cash Dividends Cash Dividends Payable Stock dividends Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock Dec. 31. Paid the cash dividends and issued the certificates for the common stock dividend. Payment Cash Dividends Payable Cash Issuance Stock Dividends Distributable Common Stock