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Required information [The following information applies to the questions displayed below.] The stockholders equity of TVX CoView transaction list Journal entry worksheet Record the declaration of a 2% stock dividend. Note: Enter debits before creditView transaction list Journal entry worksheet < 1 Record the distribution of a 2% stock dividend. Note: Enter debits before c2. Prepare the stockholders equity section after the stock dividend is distributed. (Assume no other changes to equity.) TVX

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TVX Company Journal Entry
Opening Common Shares        61,000.00 A Date Account Debit $ Credit $
Stock dividend % 2% B Feb 5th Retained Earnings     43,920.00 See E
Number of Shares as stock dividend          1,220.00 C=A*B Stock Dividend Distributable/ Payable     43,920.00 See E
Market price                36.00 D
Value of stock dividend distributable        43,920.00 E=C*D Feb 28th Stock Dividend Distributable/ Payable     43,920.00 See E
Par value per share                  5.00 F Common Stock       6,100.00 See F
Par value of Common stock as dividend          6,100.00 G=C*F Additional paid in capital     37,820.00 See I
Paid in capital in excess of par value per share                31.00 H=D-F
Paid in capital in excess of par value        37,820.00 I=C*H
Workings for stockholders equity Number of Common Shares Common Shares $ Paid in capital in excess of par value Retained Earnings
Opening Balance        61,000.00 305,000.00 426,000.00                                                 548,000.00
Effect of stock dividend          1,220.00        6,100.00      37,820.00                                                  (43,920.00)
Closing Balance        62,220.00 311,100.00 463,820.00                                                 504,080.00
Stockholder's Equity
Paid-In Capital: Amount $
Common Stock ($ 5 par, 150,000 shares
authorized, 62,220 issued and outstanding)      311,100.00
Paid-In Capital in Excess of Par-Common Stock      463,820.00
Retained Earnings      504,080.00
Total Stockholder's Equity 1,279,000.00
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