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, 61,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 915,000 430,000 545,000 $ 1,890,000 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. 1. Prepare entries to record both the dividend declaration and its distribution.
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, 61,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 915,000 430,000 545,000 $ 1,890,000 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. 1. Prepare entries to record both the dividend declaration and its distribution.
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, 61,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 915,000
430,000
545,000
$ 1,890,000
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.
1. Prepare entries to record both the dividend declaration and its distribution.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4628a3e0-e47d-45a5-9da4-63b4693574a3%2F3ee514bd-1e5c-4d83-be1d-35f915329176%2F6k1nnt_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, 61,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 915,000
430,000
545,000
$ 1,890,000
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.
1. Prepare entries to record both the dividend declaration and its distribution.
![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, 61,000
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.
$ 915,000
430,000
545,000
$ 1,890,000
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
TVX COMPANY
Balance Sheet](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4628a3e0-e47d-45a5-9da4-63b4693574a3%2F3ee514bd-1e5c-4d83-be1d-35f915329176%2Fmqe3hr_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, 61,000
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.
$ 915,000
430,000
545,000
$ 1,890,000
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
TVX COMPANY
Balance Sheet
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