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 . Prepare entries to record both the dividend declaration and its distribution. 1 View transaction list 2 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. Record the declaration of a 2% stock dividend. Record the distribution of a 2% stock dividend. $ 885,000 423,000 553,000 $1,861,000 X
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 . Prepare entries to record both the dividend declaration and its distribution. 1 View transaction list 2 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. Record the declaration of a 2% stock dividend. Record the distribution of a 2% stock dividend. $ 885,000 423,000 553,000 $1,861,000 X
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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
1. Prepare entries to record both the dividend declaration and its distribution.
1
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.
View transaction list
Record the declaration of a 2% stock dividend.
$ 885,000
423,000
553,000
$ 1,861,000
2 Record the distribution of a 2% stock dividend.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2Fcb6823ac-c15c-47e1-a30a-e94bec36cbcd%2Flmzh123_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[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
1. Prepare entries to record both the dividend declaration and its distribution.
1
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.
View transaction list
Record the declaration of a 2% stock dividend.
$ 885,000
423,000
553,000
$ 1,861,000
2 Record the distribution of a 2% stock dividend.
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