Prepare Entries to Record the Following Selected Transactions Completed During $\quad$

question 2

Essay

Prepare entries to record the following selected transactions completed during the current fiscal year:

Feb. 1 The board of directors declared a stock split which reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.
$\quad$ 11 Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May 1 Declared a dividend of $2.50 per share on the outstanding shares of common stock.
$\quad$ 15 Paid the dividend declared on May 1.
Oct. 19 Declared a 2% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $55.
Nov. 12 Issued the certificates for the common stock dividend declared on October 19.

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Definitions:

Without a Fee

A situation where services are provided or actions are taken without any charge.

Engineer Liability

The legal responsibility held by engineers for the safety, functionality, and compliance of the structures, systems or products they design or work on.

Subsequent Purchasers

Individuals or entities who buy goods or property after the first or original sale.

Client Engagement

Client engagement refers to the activities and strategies used by an organization to maintain and enhance the relationship with its clients.