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Question
Journalize the following selected transactions completed during the current fiscal year:
| Jan. 3 | The board of directors declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 400,000. |
| | |
| 22 | Declared a dividend of $1.75 per share on the outstanding shares of common stock. |
| | |
| Feb. 8 | Paid the dividend declared on January 22. |
| Sept. 1 | Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30.) |
| | |
| Oct. 1 | Issued the certificates for the common stock dividend declared on September 1. |
Answer
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