The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. 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.

The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Can you please check my work

The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
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.
Exercise 11-8 Part 2
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
Common stock
1,606,500
Paid-in capital in excess of par value, common stock
432,560
Retained earnings
512,940:
Total stockholders' equity
2,552,000
%24
%24

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