**Current Attempt in Progress**On January 1, Concord Corporation had 172,000 shares of $10 par value common stock outstanding. On June 17, the company declared an 11% stock dividend to stockholders of record on June 20. Market value of the stock was $11 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a- o credit to Common Stock for $189,200.00.- o debit to Common Stock Dividends Distributable for $208,120.00.- o credit to Paid-in Capital in Excess of Par for $189,200.00.- o debit to Stock Dividends for $208,120.00.**Graphical Explanation:***There is no graph or diagram present within the provided image.* **Instructions:**- Select the appropriate option and submit your answer.- Use the "Save for Later" button if you wish to come back to this question.**Additional Notes:**- The number of attempts used is displayed underneath the answer options. **Interactivity:**- - `Save for Later`- - `Submit Answer`**Attempts: 0 of 1 used**

The process of recording business transactions in the books of accounts for the first time is…

On January 1, Concord Corporation had 172000 shares of $10 par value common stock outstanding. On June 17, the company declared a 11% stock dividend to stockholders of record on June 20. Market value of the stock was $11 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O credit to Common Stock for $189200. debit to Common Stock Dividends Distributable for $208120. O credit to Paid-in Capital in Excess of Par for $18920. O debit to Stock Dividends for $208120.

On January 1, Concord Corporation had 172000 shares of $10 par value common stock outstanding. On June 17, the company declared a 11% stock dividend to stockholders of record on June 20. Market value of the stock was $11 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O credit to Common Stock for $189200. debit to Common Stock Dividends Distributable for $208120. O credit to Paid-in Capital in Excess of Par for $18920. O debit to Stock Dividends for $208120.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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