Hw.169. The stockholders' equity section of TVX Company on February 4 follows.Common stock-$20 par value, 150,000 shares authorized, 55,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityOn February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. 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 listJournal entry worksheetRecord the declaration of a 2% stock dividend.Note: Enter debits before credits.DateFebruary 05 Retained earningsView transaction list<Common stock dividend distributablePaid-in ranital in excess of nar valun Common stockGeneral JournalThe stockholders' equity section of TVX Company on February 4 follows.Common stock-$20 par value, 150,000 shares authorized, 55,000shares issued and outstandingPaid-in capital in excess of par value, common stockRetained earningsTotal stockholders' equityJournal entry worksheetOn February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders ofrecord. The stock's market value is $36 per share on February 5 before the stock dividend.1. Prepare entries to record both the dividend declaration and its distribution.2DateFebruary 28Record the distribution of a 2% stock dividend.Note: Enter debits before credits.Debit$ 1,100,000429,000554,000$ 2,083,000General JournalCreditDebit$ 1,100,000429,000554,000$ 2,083,000Credit

Amount that should be debited to retained earnings = Issued shares×2%×Market value per share

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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