EX 13-22 Selected dividend transactions, stock split
Selected transactions completed by Gene’s Boating Corporation during the current fiscal year are as follows:
|
Feb. 10. |
Split the common stock 3 for 1 and reduced the par from $60 to $20 per share. After the split, there were 300,000 common shares outstanding. |
|
May 1. |
Declared semiannual dividends of $2.00 on 40,000 shares of preferred stock and $0.12 on the common stock payable on June 15. |
|
Dec. 15. |
Paid the cash dividends. |
|
Nov. 1. |
Declared semiannual dividends of $2.00 on the preferred stock and $0.08 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 $28. |
|
Dec. 15. |
Paid the cash dividends and issued the certificates for the common stock dividend. |
Journalize the transactions.