West Yellowstone Outfitters Corporation manufactures and distributes leisure clothing Selected transactions completed by West Yellowstone Outfitters during the current fiscal year are as follows Jan 15 Split the common stock 4 for 1 and reduced the par from $120 to $30 per share After the split, there were 800,000 common shares outstanding Mar 1 Declared semiannual dividends of $0 25 on 100,000 shares of preferred stock and $0 07 on the 800,000 shares of $30 par common stock to stockholders of record on March 31, payable on April 30 Apr 30 Paid the cash dividends May 31 Purchased 60,000 shares of the corporations own common stock at $32, recording the stock at cost Aug 17 Sold 40,000 shares of treasury stock at $38, receiving cash Sep 1 Declared semiannual dividends of $0 25 on the preferred stock and $0 09 on the common stock (before the stock dividend) In addition, a 1 common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $40 Oct 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 West Yellowstone Outfitters 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 REVENUE 410 Sales 610 Interest Revenue PAGE 10 JOURNAL DESCRIPTION POST REF DEBIT 10 12 13 14 15 16 17 18

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West Yellowstone Outfitters Corporation manufactures and distributes leisure clothing. Selected transactions completed by West Yellowstone Outfitters during the current fiscal year are as follows: Jan.

West Yellowstone Outfitters Corporation manufactures and distributes leisure clothing. Selected transactions completed by West Yellowstone Outfitters during the current fiscal year are as follows:

Jan.	15	Split the common stock 4 for 1 and reduced the par from $120 to $30 per share. After the split, there were 800,000 common shares outstanding.
Mar.	1	Declared semiannual dividends of $0.25 on 100,000 shares of preferred stock and $0.07 on the 800,000 shares of $30 par common stock to stockholders of record on March 31, payable on April 30.
Apr.	30	Paid the cash dividends.
May	31	Purchased 60,000 shares of the corporations own common stock at $32, recording the stock at cost.
Aug.	17	Sold 40,000 shares of treasury stock at $38, receiving cash.
Sep.	1	Declared semiannual dividends of $0.25 on the preferred stock and $0.09 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding, to be capitalized at the fair market value of the common stock, which is estimated at $40.
Oct.	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

West Yellowstone Outfitters 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