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Current Attempt in Progress The common stock of Concord Inc, is currently selling at $113 per share. The directors wish to reduce the share price
Current Attempt in Progress The common stock of Concord Inc, is currently selling at $113 per share. The directors wish to reduce the share price and increase stare volume prior to a new issue. The per share par value is $10; book value is $68 per share. 8 million shares are issued and outstanding: Prepare the necessary journal entries assuming the following. (List all debit entries before credit entries. Enter amounts in dollars. Credit account tities are outomatically indented when the omount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter Ofor the amounts.) a. The bosrd votesa 2 -for-1 stock split. b. The board votes a 100% stock dividend No. Account Titles and Explanation Debit Credit a b. (Torecord the declaration) (To record the distribution)
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