Journalize the following selected transactions completed during the current fiscal year:Mar. 24The board of directors of New Town, Inc. declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.26Declared a dividend of $1.75 per share on the outstanding shares of common stock.Apr. 5Paid the dividend declared on March 26.Nov. 1Declared a 5% stock dividend on the common stock outstanding
(the fair market value of the stock to be issued is $25).Dec. 1Issued the certificates for the common stock dividend declared on November 1.

Question

Journalize the following selected transactions completed during the current fiscal year:Mar. 24The board of directors of New Town, Inc. declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.​​26Declared a dividend of $1.75 per share on the outstanding shares of common stock.​​Apr. 5Paid the dividend declared on March 26.​​Nov. 1Declared a 5% stock dividend on the common stock outstanding 
(the fair market value of the stock to be issued is $25).​​Dec. 1Issued the certificates for the common stock dividend declared on November 1.

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The Answer of Journalize the following selected transactions completed during the current fiscal year:Mar. 24The board of directors of New Town, Inc. declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.​​26Declared a dividend of $1.75 per share on the outstanding shares of common stock.​​Apr. 5Paid the dividend declared on March 26.​​Nov. 1Declared a 5% stock dividend on the common stock outstanding 
(the fair market value of the stock to be issued is $25).​​Dec. 1Issued the certificates for the common stock dividend declared on November 1.

Journalize the Following Selected Transactions Completed During the Current Fiscal