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The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 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 Record the declaration of a 2% stock dividend. Note: Enter debits before credits Date February 05 Retained earnings General Journal Common stock dividend distributable Paid-in ranital in excess of nar valun Common stock $ 1,100,000 429,000 554,000 $ 2,083,000 Debit Credit

The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 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 Record the declaration of a 2% stock dividend. Note: Enter debits before credits Date February 05 Retained earnings General Journal Common stock dividend distributable Paid-in ranital in excess of nar valun Common stock $ 1,100,000 429,000 554,000 $ 2,083,000 Debit Credit

FINANCIAL ACCOUNTING
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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The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 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 Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date February 05 Retained earnings View transaction list < Common stock dividend distributable Paid-in ranital in excess of nar valun Common stock General Journal The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Journal entry worksheet 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. 2 Date February 28 Record the distribution of a 2% stock dividend. Note: Enter debits before credits. Debit $ 1,100,000 429,000 554,000 $ 2,083,000 General Journal Credit Debit $ 1,100,000 429,000 554,000 $ 2,083,000 Credit
Transcribed Image Text:The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 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 Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date February 05 Retained earnings View transaction list < Common stock dividend distributable Paid-in ranital in excess of nar valun Common stock General Journal The stockholders' equity section of TVX Company on February 4 follows. Common stock-$20 par value, 150,000 shares authorized, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Journal entry worksheet 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. 2 Date February 28 Record the distribution of a 2% stock dividend. Note: Enter debits before credits. Debit $ 1,100,000 429,000 554,000 $ 2,083,000 General Journal Credit Debit $ 1,100,000 429,000 554,000 $ 2,083,000 Credit
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