Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:

Jan.	8	Split the common stock The stock outstanding when a corporation has issued only one class of stock. 2 for 1 and reduced the par The monetary amount printed on a stock certificate. from $80 to $40 per share. After the split, there were 171,000 common shares outstanding.
Apr.	30	Declared semiannual dividends of $0.70 on 16,000 shares of preferred stock A class of stock with preferential rights over common stock. and $0.21 on the common stock payable on July 1.
Jul.	1	Paid the cash dividends A cash distribution of earnings by a corporation to its shareholders. .
Oct.	31	Declared semiannual dividends of $0.70 on the preferred stock and $0.16 on the common stock (before the stock dividend A distribution of shares of stock to a corporations stockholders. ). 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 $54.
Dec.	31	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.

CHART OF ACCOUNTS

Canyon Ferry Boating Corporation

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
151	Prepaid Insurance
181	Land
193	Equipment
194	Accumulated Depreciation-Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
226	Interest Payable
231	Cash Dividends Payable
236	Stock Dividends Distributable
241	Salaries Payable
261	Mortgage Note Payable

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

351

Cash Dividends

352

Stock Dividends

390

Income Summary

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

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