The stockholders' equity section of TVX Company on February 4 follows. Common stock-$15 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 $ 885,000 429,000 548,000 $ 1,862,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 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.
The stockholders' equity section of TVX Company on February 4 follows. Common stock-$15 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 $ 885,000 429,000 548,000 $ 1,862,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The stockholders' equity section of TVX Company on February 4 follows.
Common stock-$15 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
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
$ 885,000
429,000
548,000
$ 1,862,000
Record the declaration of a 2% stock dividend.
stockholders](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F472621be-5969-4a54-b52e-f83201e6e65c%2F2c3d89c2-e236-47b6-a28d-478f94b18358%2Fq63nfhe_processed.jpeg&w=3840&q=75)
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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-$15 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
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
$ 885,000
429,000
548,000
$ 1,862,000
Record the declaration of a 2% stock dividend.
stockholders
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