Answer Happy

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, 59,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 5885,000 422.000 549,000 $1,856,000 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. Exercise 11-8 Part 1 1. Prepare entries to record both the dividend declaration and its distribution
View transaction list Journal entry worksheet < 1 2 Record the declaration of a 2% stock dividend. Note: Enter debits before credits Debit Credit Date Feb 05 + 31,860 General Journal (Retained earnings Common stock dividend distributable Paid-in capital in excess of par value, Common stock Record entry Clear entry View general journal
View transaction list Journal entry worksheet < 2 > Record the distribution of a 2% stock dividend. Note: Enter debits before credits General Journal Debit Credit Date Feb 28 Record entry Clear entry View general Journal
2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other chang TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 S 0 Total stockholders' equity