Question: 0 Saved Help Save & Exit Submit Required information. Exercise 13-10 (Algo) Small stock dividend LO P2 (The following information applies to the questions displayed

0 Saved Help Save & Exit Submit Required information. Exercise 13-10 (Algo) Small stock dividend LO P2 (The following information applies to the questions displayed below.] The stockholders' equity section of TVX Company on February 4 follows. Common stock-$10 per value, 150,000 shares authorized, 58,000 shares issued and outstanding Paid-in capital in excess of par value, common atock Retained earnings Total stockholders' equity $580,000 428,000 545,000 $1,553,000 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 13-10 (Algo) Part 1 1. Prepare entries to record both the dividend declaration and its distribution. Check my work Part 1 of 2 Journal entry worksheet < 1 2 0.4 points Skipped Record the declaration of a 2% stock dividend. Note: Enter debits before credits. eBook Date Hint February 05 Print References General Journal Debit Credit Record entry Clear entry View general journal Part 1 of 2 Required information Journal entry worksheet 1 0.4 points: Skipped Record the distribution of a 2% stock dividend. Note: Enter debits before credits. ellook Him Date Print References February 28 General Journal Debit Credit View general journal Clear entry Record entry 9 Nord- 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 13-10 (Algo) Part 2 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Total stockholders' equity S 0

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!