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

Jan. 5. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. Mar. 10. Purchased 41,400 shares of the corporations own common stock at $28, recording the stock at cost. Apr. 30. Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock to stockholders of record on May 15, payable on June 15. June 15. Paid the cash dividends. Aug. 20. Sold 29,000 shares of treasury stock at $33, receiving cash. Oct. 15 Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. The dividend date of record is November 15 payable on December 19. Dec. 19. Paid the cash dividends and issued the certificates for the common stock dividend.

Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

Instructions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jan. 5. Mar. 10. 30. Apr. June 15. Split the common stock 3 for 1 and reduced the par from $75 to $25 per share. After the split, there were 1,150,500 common shares outstanding. Purchased 41,400 shares of the corporation's own common stock at $28, recording the stock at cost. Declared semiannual dividends of $0.80 on 74,100 shares of preferred stock and $0.12 on the common stock to stockholders of record on May 15, payable on June 15. Paid the cash dividends. Sold 29,000 shares of treasury stock at $33, receiving cash. Declared semiannual dividends of $0.80 on the preferred stock and $0.12 on the common stock (before the stock dividend). In addition, a 2% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $36. The dividend date of record is November 15 payable on December 19. Aug. Oct. 20. 15 Dec. 19. Paid the cash dividends and issued the certificates for the common stock dividend. Entries for selected corporate transactions Instructions Chart of Accounts Journal Instructions Chart of Accounts CHART OF ACCOUNTS ATV Discount Corporation General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue EXPENSES 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense Instructions Chart of Accounts Sel 193 Equipment 532 Delivery Expense 194 Accumulated Depreciation-Equipment LIABILITIES 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 590 Miscellaneous Expense 241 Salaries Payable 710 Interest Expense 261 Mortgage Note Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock ACT ....... .. Instructions Chart of Accounts EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Stock Dividends Distributable 351 Cash Dividends 352 Stock Dividends 390 Income Summary Instructions Journal Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Feb. 10 Treasury Stock 1,159,200.00 Cash 1,159,200.00 Apr. 30 Cash Dividends 192,372.00 Cash Dividends Payable 192,372.00