For Each of the Following Independent Transactions a Through D,prepare

question 172

Essay

For each of the following independent transactions a through d,prepare the necessary journal entry:
(a)Declared a $0.40 per share cash dividend on 200,000 shares of preferred stock outstanding.
(b)Declared and distributed a 12% stock dividend on 800,000 shares of $5 par value common stock outstanding.Market price per common share on this date was $25.
(c)Declared and distributed a 2-for-1 stock split on 500,000 shares of $10 par value common stock outstanding.
(d)Declared and distributed a 30% stock dividend on 400,000 common shares of $5 par value common stock outstanding.Market price per common share on this date was $20.

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Definitions:

Customer Pickup

A distribution method where customers collect their orders directly from a designated pickup point, reducing delivery times and transportation costs.

Last-Mile Delivery

The final step of the delivery process where a product is moved from a transportation hub to its final destination, typically a personal residence.

Contracts

Legally binding agreements between two or more parties that outline terms, conditions, and obligations related to a specific transaction or service.

Customer

An individual or organization that purchases goods or services from a business, forming the basis for the business's revenue and market purpose.