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

question 188

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 300,000 shares of preferred stock outstanding.
(b)Declared and distributed an 8% 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 400,000 shares of $10 par value common stock outstanding.
(d)Declared and distributed a 35% stock dividend on 700,000 common shares of $1 par value common stock outstanding.Market price per common share on this date was $20.

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Definitions:

Peroxisomes

Small, membrane-bound organelles present in the cytoplasm of almost all eukaryotic cells, involved in the catabolism of very long chain fatty acids, branched chain fatty acids, D-amino acids, and the reduction of reactive oxygen species - specifically hydrogen peroxide.

Hydrogen Peroxide

A chemical compound used as an oxidizer, bleaching agent, and antiseptic.

Fatty Acids

Long chains of hydrocarbon molecules that are a major component of lipids in the diet and play a crucial role in biological functions and energy storage.

Secretory Vesicle

Membrane-bound vesicles produced by cells to store and transport substances (like hormones or neurotransmitters) that are to be secreted.