The common stock of Vaughn Inc. is currently selling at $$119$ per share. The directors wish to reduce the share price and increase

share volume prior to a new issue. The per share par value is $$10$; book value is $$63$ per share. $10$ 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 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 $0$ for the amounts.$)$

a$.$ The board votes a $2-$for$-1$ stock split.

b$.$ The board votes a $100\%$ stock dividend.

No$.$ Account Titles and Explanation

a$.$

b$.$

$($To record the declaration$)$

$($To record the distribution$)$