Prepare Entries to Record the Following Selected Transactions Completed During

question 34

Essay

Prepare entries to record the following selected transactions completed during the current fiscal year:Feb. 1The 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 500,000.??11Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.??May 1Declared a dividend of $2.50 per share on the outstanding shares of common stock.??15Paid the dividend declared on May 1.Oct. 19Declared a 2% stock dividend on the common stock outstanding
(the fair market value of the stock to be issued is $55.)??Nov. 12Issued the certificates for the common stock dividend declared on October 19.?

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Definitions:

Power Door Locks

An electrically controlled system that locks and unlocks the doors of a vehicle, offering convenience and increased security.

Digital Multimeter

A handheld electrical testing device that can measure AC and DC voltage, resistance, amps, and other measurements.

Light Emitting Diodes

Semiconductor devices that emit light when an electric current passes through them, widely used for indicators, displays, and lighting applications.

Headlamp Circuits

The electrical pathways that connect the vehicle's battery and switches to the headlamps, enabling them to light up.