FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Exercise 11-10 (Algo) Small stock dividend LO P2
[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, 58,000 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 $31 per share on February 5 before the stock dividend.
TVX COMPANY
Stockholders' Equity Section of the Balance Sheet
February 28
Exercise 11-10 (Algo) Part 2
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
Total stockholders' equity
$
$
1,450,000
426,000
549,000
$
2,425,000
0
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Transcribed Image Text:Required information Exercise 11-10 (Algo) Small stock dividend LO P2 [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, 58,000 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 $31 per share on February 5 before the stock dividend. TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Exercise 11-10 (Algo) Part 2 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Total stockholders' equity $ $ 1,450,000 426,000 549,000 $ 2,425,000 0
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