169 Journalize the Following Selected Transactions Completed During the Current Fiscal

question 148

Essay

169. Journalize the following selected transactions completed during the current fiscal year:

Mar. 4 The board of directors of New Town, Inc. 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.


26 Declared a dividend of $1.75 per share on the outstanding shares of common stock.


Apr. 5 Paid the dividend declared on March 26.


Nov. 1 Declared a 5% stock dividend on the common stock outstanding the fair market value of the stock to be issued is $25.


Dec. 1 Issued the certificates for the common stock dividend declared on November 1.

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Definitions:

PepsiCo

A global food and beverage leader with a product portfolio including 22 brands that generate more than $1 billion each in estimated annual retail sales.

Soft Drink Industry

An economic sector involved in manufacturing, distribution, and sales of non-alcoholic beverages, such as sodas, juices, and carbonated drinks.

Food Industry

The sector of the economy concerned with the production, processing, and distribution of food products.

Across Cultures Competency

The ability to understand, respect, and effectively interact with people from diverse cultural backgrounds.