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Chapter 13 HomeworkG Saved Help Save & Exit Submit Check my work 2 Required information 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: Part 1 of 3 10 points Cormon stock-$10 par value, 150, 000 shares authorized, 75,000 sh res issued and outstarding Paid-in capital in excess of par value, cormon stoclk Retained earnings Total stockholders equity $750, 000 525, 000 675, 000 $1,950, 000 eBook On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $34 per share on February 5 before the stock dividend. The stocks market value is $30 per share on February 28. Hint Print 1. Prepare entries to record both the dividend declaration and its distribution. References View transactlon list Journal entry worksheet Record the declaration of 14% stock dividend Prex 2 3 4 of 6 Next >Check my work 2 1. Prepare entries to record both the dividend declaration and its distribution. Part 1 of3 View transaction list 10 points Journal entry worksheet eBook Record the distribution of 14% stock dividend. Hint Note: Enter debits before credits General Journal Debit Credit Date Print Feb 28 Record entry Clear entry View general journal

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Calculation of value of Stock dividend Percentage of stock dividend -14% Number of shares outstanding -75,000 shares Number of shares to be issued as stock dividend Number of Shares outstanding x 14% 75,000 shares x 14% -10,500 shares Market price of a share on the date of declaration of dividend i.e. on Feb. 5-$34 per share Total value of stock dividend Number of shares to be issued as stock dividend x Market price per share 10,500 shares x S34 per share $357,000 Journal Entries 1. On the date of declaration: On the date of declaration of stock dividend, amount equal to par value of stock dividend would be credited to Stock Dividends Distributable account and the remaining amount would be credited to Paid-in Capital in excess of Par Value, Common stock account. Total Value of stock dividend $357,000 Number of shares to be issued as stock dividend Par value per share Total par value of the stock to be issued as stock dividend- 10,500 shares x S10 par value 10,500 shares >Calculated above $10 given in question -S105,000 > Credited to Stock Dividends Distributable account Total Valuc of stock dividend- Par valuc $357,000 $105,000 Remaining amount = $252,000 → Credited to Paid-in Capital in excess of Par Value, Common stock account.Date General Journal Debit Credit Feb. 05Stock Dividends Total value of stock dividend] $357,000 Stock Dividends Distributabl

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