Required information [The following information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$25 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 $1,375,000 426,000 550,000 $2,351,000 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 $41 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 <> Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Feb 05 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 > Record the distribution of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 Record entry Clear entry View general journal

Required information [The following information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$25 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 $1,375,000 426,000 550,000 $2,351,000 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 $41 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 <> Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Feb 05 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 > Record the distribution of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 Record entry Clear entry View general journal

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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