0If no entryJune 30My Apps Dashboard | Georgia Northwestern Technical...Journalize the entry required on June 30.Vincent Corporation has 100,000 shares of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 5% stock dividend to be issued on July 30 tostockholders of record July 15. The market price of the stock was $132 a share on June 30.required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.10Journalize the entry required on July 15.July 15Journalize the entry required on July 30.July 30v2.cengagenow.com001000Bb Lessons - ACCT1105: Financial Accounting II (...Û +C CengageNOWv2 | Online teaching and learning resour

Stock Dividend - Stock Dividend is the corporate action taken by the company management. Stock…

Answered: Vincent Corporation has 100,000 shares…

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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On June 1, Metlock, Inc. issues 1,300 shares of no-par common stock at a cash price of $8 per share. Journalize the issuance of the shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit June 1
Tropical Rainwear issues 2,000 shares of its $16 par value preferred stock for cash at $18 per share. Record the issuance of the preferred shares. (If no entry is required for a particular transaction/event, select "No Jour Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the issuance of the preferred, shares. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal
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
On May 10, a company issued for cash 1,600 shares of no-par common stock (with a stated value of $4) at $17, and on May 15, it issued for cash 2,000 shares of $17 par preferred stock at $61. Journalize the entries for May 10 and 15, assuming that the common stock is to be credited with the stated value. If an amount box does not require an entry, leave it blank.
Windsor, Inc. issues 8,500 shares of $105 par value preferred stock for cash at $114 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit
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The Vermillion Corporation has 116,600 $2.0 noncumulative preferred shares that have been issued. It declares a quarterly cash dividend on May 15 to shareholders of record on June 10. The dividend is paid on June 30. Prepare the entries on the appropriate dates to record the cash dividend. (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.) Date Account Titles and Explanation Debit Credit May 15 June 10 June 30 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer
Vincent Corporation has 90,000 shares of $105 par common stock outstanding, On June 30, Vincent Corporation declared a 3% stock dividend to be issued on July 30 to stockholders of record on July 15. The market price of the stock was $ $121 per share on June 30 If no entry is required, select "No Entry Required" and leave the amount boxes blank Journalize the entry required on June 30. If an amount box does not require an entry, leave it blank June 30 Journalize the entry required on July 15. If an amount box does not require an entry, leave it Mank My 15 Sourmalize the entry required on July 30, If an amount box does not require an entry, leave it blank July 30
Windsor Corporation has outstanding 440,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the stock is $69 per share. Prepare the journal entries for Windsor Corporation 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
Sage Hill Inc. issues 9,000 shares of $105 par value preferred stock for cash at $119 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically indented when 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 Debit Credit

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