Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ! required information exercise 13-10(algo) small

! Required information Exercise 13-10(Algo) Small stock dividend LO P2 [The following...

80.2K

Verified Solution

Question

Accounting

!
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 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
$57
[42],[,55],[$1,54]
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 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
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students