The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 855,000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 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-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 855,000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 per share on February 5 before the stock dividend.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 11-8 Small stock dividends LO P2
[The following information applies to the questions displayed below.]
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
Common stock-$15 par value, 150, 000 shares
authorized, 57,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
855, 000
427, 000
554, 000
Total stockholders' equity
$1,836, 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 $31 per share on February 5 before the stock dividend.
Exercise 11-8 Part 1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97b5df25-1667-438a-b46e-c2a0d1ae7c86%2Fee135400-b23f-452d-9f6a-4095fb552344%2Fwnw9id_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Exercise 11-8 Small stock dividends LO P2
[The following information applies to the questions displayed below.]
The stockholders' equity of TVX Company at the beginning of the day on February 5 follows.
Common stock-$15 par value, 150, 000 shares
authorized, 57,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
855, 000
427, 000
554, 000
Total stockholders' equity
$1,836, 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 $31 per share on February 5 before the stock dividend.
Exercise 11-8 Part 1
Transcribed Image Text:1. Prepare entries to record both the dividend declaration and its distribution.
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Journal entry worksheet
1
2
Record the declaration of a 2% stock dividend.
ces
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb 05
%24
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