Required information [The following information applies to the questions displayed below] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$15 par value, 150,000 shares authorized, 64,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 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. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet < Record the declaration of a 2% stock dividend. Note Enter debits before credits Date February 05 General Journal $ 960,000 428,000 551,000 $ 1,939,000 Debit Credit
Required information [The following information applies to the questions displayed below] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$15 par value, 150,000 shares authorized, 64,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 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. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet < Record the declaration of a 2% stock dividend. Note Enter debits before credits Date February 05 General Journal $ 960,000 428,000 551,000 $ 1,939,000 Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below]
The stockholders' equity section of TVX Company on February 4 follows.
Common stock-$15 par value, 150,000 shares authorized, 64,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
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.
1. Prepare entries to record both the dividend declaration and its distribution.
View transaction list
Journal entry worksheet
< 1
Record the declaration of a 2% stock dividend.
Note Enter debits before credits
Date
February 05
General Journal
$ 960,000
428,000
551,000
$ 1,939,000
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5f09a9d5-bc97-49ea-91d7-c4ed1e3fe70c%2F54fe5118-e8d9-4219-8413-d6a260225819%2F0gu4bj8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
The stockholders' equity section of TVX Company on February 4 follows.
Common stock-$15 par value, 150,000 shares authorized, 64,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
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.
1. Prepare entries to record both the dividend declaration and its distribution.
View transaction list
Journal entry worksheet
< 1
Record the declaration of a 2% stock dividend.
Note Enter debits before credits
Date
February 05
General Journal
$ 960,000
428,000
551,000
$ 1,939,000
Debit
Credit
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