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The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 855,000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 per share on February 5 before the stock dividend.

The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 855,000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 per share on February 5 before the stock dividend.

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.11BE: Earnings per share and price-earnings ratio A company reports the following: Net income 410,000...
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Required information Exercise 11-8 Small stock dividends LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 855, 000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 per share on February 5 before the stock dividend. Exercise 11-8 Part 1
Transcribed Image Text:Required information Exercise 11-8 Small stock dividends LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$15 par value, 150, 000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 855, 000 427, 000 554, 000 Total stockholders' equity $1,836, 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 $31 per share on February 5 before the stock dividend. Exercise 11-8 Part 1
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. ces Note: Enter debits before credits. Date General Journal Debit Credit Feb 05 %24 < Prev 5 6 of 13 Next >
Transcribed Image Text: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. ces Note: Enter debits before credits. Date General Journal Debit Credit Feb 05 %24 < Prev 5 6 of 13 Next >
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