Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows: Jan. 8 Split the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the split, there were 123,000 common shares outstanding. Apr. 30 Declared semiannual dividends of $0.80 per share on 16,500 shares of preferred stock and $0.27 per share on the common stock payable on July 1. Jul. 1 Paid the cash dividends. Oct. 31 Declared semiannual dividends of $0.80 per share on the preferred stock and $0.15 per share on the common stock (before the stock dividend). In addition, a 3% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $51. 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. Enter the October 31 and December 31 transactions as two separate journal entries on each date.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
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