Can you please check my work Common stock-$20 par value, 150,000 sharesauthorized, 58,000 shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earnings$1,160,000425,000545,000Total stockholders' equity$2,130,000On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $36 per share on February 5 before the stock dividend.Exercise 11-8 Part 11. Prepare entries to record both the dividend declaration and its distribution.View transaction listJournal entry worksheetRecord the declaration of a 2% stock dividend.< Prev1011of 12Next > Journal entry worksheetRecord the declaration of a 2% stock dividend.Note: Enter debits before credits.DateGeneral JournalDebitCreditFeb 05Retained earnings480,000Common stock dividend distributable120,000Paid-in capital in excess of par value, Common stock360,000Record entryClear entryView general journal

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Common stock-$20 par value, 150,000 shares authorized, 58,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,160,000 425,000 545,000 Total stockholders' equity $2,130,000 On February 5 , the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $36 per share on February 5 before the stock dividend. xercise 11-8 Part 1