Journalize the Following Selected Transactions Completed During the Current Fiscal $\$ 100$

question 171

Essay

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:

Authority

The legitimate power given to an individual or organization to make decisions, enforce obedience, and implement policies.

Final Choice

The ultimate decision made after considering all options and outcomes.

Routine Decisions

Decisions that are made frequently, following established policies or procedures with predictable outcomes.

Momentous Decisions

Decisions of great importance or significance, often having far-reaching consequences.