Triton Triathlete Corporation completed the following selected transactions during 2015: Jan 6 Declared a cash dividend on

Question:

Triton Triathlete Corporation completed the following selected transactions during 2015:

Jan 6 Declared a cash dividend on the 7,000 shares of $3.00, preferred shares outstanding. Declared a $0.10 per share dividend on the 15,000 common shares outstanding. The date of record is January 17, and the payment date is January 20.

Jan 20 Paid the cash dividends.

Mar 21 Completed a 2-for-1 stock split on common shares by calling in the 15,000 common shares and issuing new shares in their place.

Apr 18 Declared and distributed a 15% stock dividend on the common shares. The market value of the common shares was $34 per share.

Jun 18 Purchased 2,000 treasury shares at $31 per share.

Requirement

Record the transactions in the journal.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...