Required information Exercise 11-6 Stock dividends and per share book values LO P2 [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, 75,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,500,000 525,000 675,000 $2,700,000 On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividend. The stock's market value is $35 per share on February 28. Exercise 11-6 Part 1 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet Record the declaration of 14% stock dividend. Note: Enter debits before credits. General Journal Debit Credit Date Feb 05 Record entry Clear entry View general journal