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Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Instructions: Joumalize the transactions: If no entry is required, select
Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Instructions: Joumalize the transactions: If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 5. Split the common stock 5 for 1 and reduced the par from $75 to $15 per share, After the split, there were 650,000 common shares outstonding. Mar, 10. Purchased 52,000 shares of the corporation's own common stock at $18, recording the stock at cost. Apr. 30. Declared semiannual dividends of $3 on 60,000 shares of preferred stock and $0.23 on the common stock to stockholders of record on May 15, payable on June 15. June 15. Paid the cash dividends. Aug. 20. Sold 37,000 shares of tressury stock at $21, receiving cash. Oct. 15. Declared semiannual dividends of $3 on the preferred stock and $0.29 on the common stock (before the stock dividend). 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 $23. Dec. 19. Paid the cash dividends. Dec. 19. Issued the certificates for the common stock dividend
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