Prepare entries to record the following selected transactions completed during the current fiscal year:

Feb. 1 The board of directors declared a stock split which reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.
$ \quad $11 Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock.
$ \quad $15 Paid the dividend declared on May 1.
Oct. 19 Declared a 2% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $55.
Nov. 12 Issued the certificates for the common stock dividend declared on October 19.

Question

Prepare entries to record the following selected transactions completed during the current fiscal year:

Feb.	1	The board of directors declared a stock split which reduced the par of common shares from $100 to $20.  This action increased the number of outstanding shares to 500,000.
$ \quad $11	Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May   1	Declared a dividend of $2.50 per share on the outstanding shares of common stock.
$ \quad $15	Paid the dividend declared on May 1.
Oct.  19	Declared a 2% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $55.
Nov. 12	Issued the certificates for the common stock dividend declared on October 19.

Quizplus · Accepted Answer

The Answer of Prepare entries to record the following selected transactions completed during the current fiscal year:

Feb.	1	The board of directors declared a stock split which reduced the par of common shares from $100 to $20.  This action increased the number of outstanding shares to 500,000.
$ \quad $11	Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May   1	Declared a dividend of $2.50 per share on the outstanding shares of common stock.
$ \quad $15	Paid the dividend declared on May 1.
Oct.  19	Declared a 2% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $55.
Nov. 12	Issued the certificates for the common stock dividend declared on October 19.

Prepare Entries to Record the Following Selected Transactions Completed During \quad

Prepare Entries to Record the Following Selected Transactions Completed During $\quad$