Kk.312. 0Required information[The following information applies to the questions displayed below]The stockholders' equity section of TVX Company on February 4 follows.Common stock-$10 par value, 150,000 shares authorized, 60,000 sharesissued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityOn February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $40 per share on February 5 before the stock dividend.1. Prepare entries to record both the dividend declaration and its distribution.View transaction listJournal entry worksheet<2$ 600,000425,000550,000$ 1,575,000Record the declaration of a 20% stock dividend.> Required information1. Prepare entries to record both the dividend declaration and its distribution.View transaction listJournal entry worksheet< 1Record the declaration of a 20% stock dividend.Note: Enter debits before credits.DateFebruary052Record entryView transaction list<Journal entry worksheet2DateFebruary28General JournalRecord the distribution of a 20% stock dividend.Note: Enter debits before credits.Clear entryRecord entryGeneral JournalClear entryDebitCreditView general journalDebit>CreditView general journal

Dividend is the amount of return which is paid by the entity to its shareholders. It is paid to the…

The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 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 $ 600,000 425,000 550,000 $ 1,575,000 On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution.

The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 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 $ 600,000 425,000 550,000 $ 1,575,000 On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution.

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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