ACCOUNTING 202-Selected transactions completed by ATV Discount Corporation

Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows:

Jan.5.Split the common stock 4 for 1 and reduced the par from $20 to $5 per share. After the split, there were 4,000,000 common shares outstanding.Mar.10.Purchased 100,000 shares of the corporation's own common stock at $30, recording the stock at cost.Apr.30.Declared semiannual dividends of $0.25 on 30,000 shares of preferred stock and $0.08 on the common stock to stockholders of record on May 15, payable on June 15.June15.Paid the cash dividends.Aug.20.Sold 60,000 shares of treasury stock at $40, receiving cash.Oct.15.Declared semiannual dividends of $0.25 on the preferred stock and $0.08 on the common stock (before the stock dividend). In addition, a 1% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $35. The dividend date of record is November 15 payable on December 19.Dec.19.Paid the cash dividends and issued the certificates for the common stock dividend.