Required information [The following information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$5 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 300,000 422,000 548,000 $ 1,270,000 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. 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-$5 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 300,000 422,000 548,000 $ 1,270,000 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. 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
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-$5 par value, 150,000 shares authorized, 60,000
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.
$ 300,000
422,000
548,000
$ 1,270,000
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
February 28
Total stockholders' equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdf5744c5-1700-46cb-ac8a-ddda96b9f5dd%2Fffa54111-ecdb-438b-9ccd-37d55e226176%2Frkynfbo_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-$5 par value, 150,000 shares authorized, 60,000
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.
$ 300,000
422,000
548,000
$ 1,270,000
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
February 28
Total stockholders' equity
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