Vienna Corporation has 23,000 shares of $70 par common stock outstanding. On August 2, Vienna Corporation declared a 5% stock dividendto be issued October 8 to stockholders of record on September 15. The market price of the stock was $96 per share on August 2.Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If noentry is required, select "No Entry Required" and leave the amount boxes blank.Aug. 2Sept. 15Oct. 8

Stock dividends are the dividends issued by the company to give out bonus stock to the existing…

Answered: Vienna Corporation has 23,000 shares of…

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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Swifty Corporation has outstanding 353,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Declaration Date Retained Earnings Distribution Date Common Stock Dividend Distributable Common Stock Debit Credit
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Bonita Corporation has 86,000 shares of common stock outstanding. It dedares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"
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answer in text form please (without image), Note: .Every entry should have narration please

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