The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 par value, 150,000 shares authorized, 59,000 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. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date February 05 General Journal $ 590,000 428,000 548,000 $ 1,566,000 Debit Credit >
The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 par value, 150,000 shares authorized, 59,000 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. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date February 05 General Journal $ 590,000 428,000 548,000 $ 1,566,000 Debit Credit >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity section of TVX Company on February 4 follows.
Common stock-$10 par value, 150,000 shares authorized, 59,000
shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
$ 590,000
428,000
548,000
$ 1,566,000
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.
View transaction list
Journal entry worksheet
1
2
Record the declaration of a 2% stock dividend.
Note: Enter debits before credits.
Date
February 05
General Journal
Debit
Credit
>
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