Required information [The following information applies to the questions displayed below.) The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 62,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 1,240,000 424,000 552,000 $ 2,216,000 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 $41 per share on February 5 before the stock dividend. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
Required information [The following information applies to the questions displayed below.) The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 62,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 1,240,000 424,000 552,000 $ 2,216,000 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 $41 per share on February 5 before the stock dividend. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
Related questions
Question
![(!
Required information
[The following information applies to the questions displayed below.)
The stockholders' equity section of TVX Company on February 4 follows.
Common stock-$20 par value, 150,000 shares authorized, 62,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 1,240,000
424,000
552,000
$ 2,216,000
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 $41 per share on February 5 before the stock dividend.
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
TVX COMPANY
Stockholders' Equity Section of the Balance Sheet
Retained earnings
February 28
Paid-in capital in excess of par value, common stock
Total stockholders' equity
$
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1bc1a8ad-8e23-4cba-93cb-9ef3ca0e13a9%2Fba4bc1bb-d51a-4c10-9b5a-b96c90831186%2Fjs8y5xn_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-$20 par value, 150,000 shares authorized, 62,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 1,240,000
424,000
552,000
$ 2,216,000
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 $41 per share on February 5 before the stock dividend.
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
TVX COMPANY
Stockholders' Equity Section of the Balance Sheet
Retained earnings
February 28
Paid-in capital in excess of par value, common stock
Total stockholders' equity
$
0
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Survey of Accounting (Accounting I)](https://www.bartleby.com/isbn_cover_images/9781305961883/9781305961883_smallCoverImage.gif)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
![College Accounting, Chapters 1-27](https://www.bartleby.com/isbn_cover_images/9781337794756/9781337794756_smallCoverImage.gif)
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,