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:

Accounting Information

Data generated from the accounting processes of a company, including financial statements and records that inform stakeholders about its financial performance.

Business Entities

Legal structures that are allowed to engage in business, such as corporations, partnerships, and sole proprietorships.

Liabilities

Financial obligations or debts owed by a business to creditors, which must be settled over time through the transfer of assets, provision of services, or other economic benefits.

Assets

Resources owned by a company that have future economic value that can be measured and can be used to generate income.