Vincent Corporation Has 100,000 Share of $100 Par Common Stock

question 85

Essay

Vincent Corporation has 100,000 share of $100 par common stock outstanding. On June 30, Vincent Corporation declared a 5% stock dividend to be issued on 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 and July 30.

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Definitions:

Experimental

Pertaining to a method of research in which variables are manipulated and the effects on other variables are observed; crucial in establishing causality in psychology and other sciences.

Syllogism

A form of logical reasoning where a conclusion is drawn from two given or assumed propositions (premises) with a common term.

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.

Cognition

The cognitive activity of gaining knowledge and comprehension via thinking, experiencing, and sensory input.