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The stockholders equity section of TVX Company on February 4 follows. Common stock$5...

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Accounting

The stockholders equity section of TVX Company on February 4 follows.
Common stock$5 par value, 150,000 shares authorized, 58,000 shares issued and outstanding $ 290,000
Paid-in capital in excess of par value, common stock 428,000
Retained earnings 548,000
Total stockholders equity $ 1,266,000
On February 5, the directors declare a 2% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $36 per share on February 5 before the stock dividend.
1. Prepare entries to record both the dividend declaration and its distribution. Record the declaration of a 2% stock dividend. Record the distribution of a 2% stock dividend.

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