Vincent Corporation has 96,000 shares of $105 par common stock outstanding. On June 30, Vincent Corporation declared a 4% stock dividend to be issued on July 30 to stockholders of record July 15. The market price of the stock was $118 a share on June 30.If no entry is required, select "No Entry" 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 fill in the blank cf06c0f81f9603a_2fill in the blank cf06c0f81f9603a_3 fill in the blank cf06c0f81f9603a_5fill in the blank cf06c0f81f9603a_6 fill in the blank cf06c0f81f9603a_8fill in the blank cf06c0f81f9603a_9Journalize the entry required on July 15. If an amount box does not require an entry, leave it blank.July 15 fill in the blank 0abc8c04c05afdf_2fill in the blank 0abc8c04c05afdf_3 fill in the blank 0abc8c04c05afdf_5fill in the blank 0abc8c04c05afdf_6Journalize the entry required on July 30. If an amount box does not require an entry, leave it blank.July 30 fill in the blank 09d97d07805f030_2fill in the blank 09d97d07805f030_3 fill in the blank 09d97d07805f030_5fill in the blank 09d97d07805f030_6

Answered: Vincent Corporation has 96,000 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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Vincent Corporation has 96,000 shares of $105 par common stock outstanding. On June 30, Vincent Corporation declared a 4% stock dividend to be issued on July 30 to stockholders of record July 15. The market price of the stock was $118 a share on June 30.

If no entry is required, select "No Entry" 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	fill in the blank cf06c0f81f9603a_2	fill in the blank cf06c0f81f9603a_3
	fill in the blank cf06c0f81f9603a_5	fill in the blank cf06c0f81f9603a_6
	fill in the blank cf06c0f81f9603a_8	fill in the blank cf06c0f81f9603a_9

Journalize the entry required on July 15. If an amount box does not require an entry, leave it blank.

July 15		fill in the blank 0abc8c04c05afdf_2	fill in the blank 0abc8c04c05afdf_3
		fill in the blank 0abc8c04c05afdf_5	fill in the blank 0abc8c04c05afdf_6

Journalize the entry required on July 30. If an amount box does not require an entry, leave it blank.

July 30		fill in the blank 09d97d07805f030_2	fill in the blank 09d97d07805f030_3
		fill in the blank 09d97d07805f030_5	fill in the blank 09d97d07805f030_6

Expert Solution

Step 1

Introduction:

Journal:

Recording of a business transactions in a chronological order.

First step in the preparation of final accounts is recording journals.

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