169. Journalize the following selected transactions completed during the current fiscal year:

Mar. 4 The 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.

26 Declared a dividend of $1.75 per share on the outstanding shares of common stock.

Apr. 5 Paid the dividend declared on March 26.

Nov. 1 Declared a 5% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $25.

Dec. 1 Issued the certificates for the common stock dividend declared on November 1.

Question

169.	Journalize the following selected transactions completed during the current fiscal year:

Mar.  4	The 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.

26	Declared a dividend of $1.75 per share on the outstanding shares of common stock.

Apr.   5	Paid the dividend declared on March 26.

Nov.   1	Declared a 5% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $25.

Dec.   1	Issued the certificates for the common stock dividend declared on November 1.

Quizplus · Accepted Answer

The Answer of 169.	Journalize the following selected transactions completed during the current fiscal year:

Mar.  4	The 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.

26	Declared a dividend of $1.75 per share on the outstanding shares of common stock.

Apr.   5	Paid the dividend declared on March 26.

Nov.   1	Declared a 5% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $25.

Dec.   1	Issued the certificates for the common stock dividend declared on November 1.

169 Journalize the Following Selected Transactions Completed During the Current Fiscal