Vincent Corp has 100,000 share of $100 par common stock outstanding On June 30, Vincent Corp declared a 5 stock dividend to be issued July 30 to stockholders of record July 15 The market price of the stock was $132 a share on June 30 JOURNALIZE the entries required on JUNE 30, JULY 15, JULY 30 ...

June 30 DR Retained Earnings 660000 CR Sto ...

Vincent Corp. has 100,000 share of $100 par common stock outstanding. On June 30, Vincent Corp declared

Question:

Vincent Corp. has 100,000 share of $100 par outstanding. On June 30, Vincent Corp declared a 5% stock to be issued July 30 to stockholders of record July 15. The market price of the stock was $132 a share on June 30. JOURNALIZE the entries required on JUNE 30, JULY 15, & JULY 30.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...