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Accounting
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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, 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,100,000 429,000 554,000 $2,083,000 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. 1. Prepare entries to record both the dividend declaration and its distribution. 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list View journal entry worksheet Debit Credit No 1 Date Feb 05 General Journal Retained earnings Common stock dividend distributable 34,100 34,100 N 2 Feb 28 34,100 Common stock dividend distributable Common stock, $20 par value Paid-in capital in excess of par value, Common stock 22,000 12,100
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