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

Jan. 3 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 400,000.
22 Declared a dividend of $1.75 per share on the outstanding shares of common stock.
Feb. 8 Paid the dividend declared on January 22.
Sep. 1 Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30).
Oct. 1 Issued the certificates for the common stock dividend declared on September 1.

Please Refer to Explanation

Explanation:

Jan 3 is just a memo entry and is not Journalized

Jan 22

DR Retained Earnings $700,000

CR Dividends Payable $700,000

( To record Dividends payable)

Feb 8

DR Dividends Payable $700,000

CR Cash $700,000

(To record Dividends Paid)

Sep 1

DR Retained Earnings $600,000

CR Common Stock Dividends Payable $400,000

CR Paid In Value of Stock Exceeding Par $200,000

( To record Dividends Payable)

Oct 1

DR Common Stock Dividends Payable $400,000

CR Common Stock $400,000

( To record issuance of Certificates)

Workings.

Jan 22

Dividends = 1.75 * 400,000

= $700,000

Sep 1

= 400,000 shares * 0.05 * 30

= $600,000

Exceeding Par

= 400,000 shares * 0.05 * (30-20)

= $200,000

all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.

hope this !

answer; microeconomics;