Required information [The following information applies to the questions displayed below.] The stockholders’ equity of TVX...
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: Common stock—$15 par value, 150,000 shares authorized, 56,000 shares issued and outstanding $ 840,000 Paid-in capital in excess of par value, common stock 525,000 Retained earnings 675,000 Total stockholders’ equity $ 2,040,000 On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock’s market value is $34 per share on February 5 before the stock dividend. The stock’s market value is $30 per share on February 28. 1. Prepare entries to record both the dividend declaration and its distribution.
Homework Answers
| Date | Accounts Titles & Explanation | Debit | Credit |
|---|---|---|---|
| February 5 | Retained earnings [56,000 shares * 12% * $34] | 228,480 | |
| Common stock dividend distributable [56,000 shares * 12% * $15] | 100,800 | ||
| Paid-In capital in excess of par value - Common stock | 127,680 | ||
| [To record stock dividend declare] | |||
| February 28 | Common stock dividend distributable | 100,800 | |
| Common Stock, $15 par value | 100,800 | ||
| [To record stock dividend distributed] |
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Required information [The following information applies to the
questions displayed below.] The stockholders’ equity of TVX...
Required information [The following information applies to the questions displayed below.) The stockholders' equity of TVX...
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: Common stock-$20 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,300,000 525,000 675,000 $2,500,000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
Required information [The following information applies to the questions displayed below.] The stockholders' equity of TVX...
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: Common stock-$20 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,300,000 525,000 675,000 Total stockholders' equity $2,500,000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
[The following information applies to the questions displayed below.) The stockholders' equity of TVX Company at...
[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-$5 par value, 150,000 shares authorized, 56,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 280,000 525, 800 675,000 $1,480,000 On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows:...
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, 54,000 shares issued and outstanding $ 810,000 Paid-in capital in excess of par value, common stock 525,000 Retained earnings 675,000 Total stockholders’ equity $ 2,010,000 On February 5, the directors declare a 10% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock’s market value is $39 per share on February 5...
Required information [The following information applies to the questions displayed below.] The stockholders' equity of TVX...
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. Common stock-$20 par value, 150,000 shares authorized, 63,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,260,000 422,000 546,000 $2,228,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
Required information The following information applies to the questions displayed below. The stockholders' equity of TVX...
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. Common stock-$20 par value, 150,000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,140,000 422,000 548,000 $2,110,000 mences On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The...
The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows:...
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, 54,000 shares issued and outstanding $ 810,000 Paid-in capital in excess of par value, common stock 525,000 Retained earnings 675,000 Total stockholders’ equity $ 2,010,000 On February 5, the directors declare a 10% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock’s market value is $39 per share on February 5...
Required information [The following information applies to the questions displayed below) The stockholders' equity of TVX...
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. Common stock-$5 par value, 150,000 shares authorized, 63,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 315,000 430,000 551,080 $1,296,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The...
Required information [The following information applies to the questions displayed below.) The stockholders' equity of TVX...
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: Common stock-$15 par value, 150,000 shares authorised, 58,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 870,000 525.000 675,000 $2,070.000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
Required information (The following information applies to the questions displayed below.) The stockholders' equity of TVX...
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. Common stock-$20 par value, 150,000 shares authorized, 61,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,220,000 423,000 551,000 $2,194,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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: Common stock-$20 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,300,000 525,000 675,000 $2,500,000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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: Common stock-$20 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $1,300,000 525,000 675,000 Total stockholders' equity $2,500,000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
[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-$5 par value, 150,000 shares authorized, 56,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 280,000 525, 800 675,000 $1,480,000 On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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. Common stock-$20 par value, 150,000 shares authorized, 63,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,260,000 422,000 546,000 $2,228,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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. Common stock-$20 par value, 150,000 shares authorized, 57,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,140,000 422,000 548,000 $2,110,000 mences On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The...
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. Common stock-$5 par value, 150,000 shares authorized, 63,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 315,000 430,000 551,080 $1,296,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The...
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: Common stock-$15 par value, 150,000 shares authorised, 58,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 870,000 525.000 675,000 $2,070.000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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. Common stock-$20 par value, 150,000 shares authorized, 61,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,220,000 423,000 551,000 $2,194,000 On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's...
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