Question

QUIZ Seved 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. 02844 Common stock-$25 par value, 150,000 shares authorized, 64,000 shares issued and outstanding Paid in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,600,000 422,000 550,000 $2,572,000 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 $36 per share on February 5 before the stock dividend. 1. Prepare entries to record both the dividend declaration and its distribution View transaction list Journal entry worksheet Record the declaration of a 2% stock dividend. Note: Enter debits before credits General Journal Debit Credit Feb 05

Answer 1

common stock issued and out standing 64000 shares of $25 par. = 24 stock divielend C Small stock dividend) 27. (04000) = 1280 shares. Stock dividend of 1280 shares are issued at $ 36 per share Feb osh oopez Debit credit $ 46080 Retained Earnings Stock dividend distributable Additional paid in capital $ 82000 $14080 Feb 28th stock dividend distributable common stock $32000 $32000