PR 13-5A Entries for selected corporate transactions
Selected transactions completed by Big Water Boating Corporation during the current fiscal year are as follows:
| Jan. 3. | Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 750,000 common shares outstanding. |
| Apr. 7. | Purchased 50,000 shares of the corporation’s own common stock at $33, recording the stock at cost. |
| May 1. | Declared semiannual dividends of $1.40 on 35,000 shares of preferred stock and $0.09 on the common stock to stockholders of record on May 15, payable on June 1. |
| June 1. | Paid the cash dividends. |
| July 29. | Sold 36,000 shares of treasury stock at $40, receiving cash. |
| Nov. 15. | Declared semiannual dividends of $1.40 on the preferred stock and $0.15 on the common stock (before the stock dividend). 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 $41. |
| Dec. 31. | Paid the cash dividends and issued the certificates for the common stock dividend. |
Instructions
Journalize the transactions.
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…