• 1

  Record the declaration of a 2% stock dividend.

• 2

  Record the distribution of a 2% stock dividend.

! 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-$25 par value, 150,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $1,500,000 424,000 551,000 $2,475,000 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. 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 Journal entry worksheet Record the declaration of a 2% stock dividend. Note: Enter debits before credits. General Journal Debit Credit Date Feb 05 Record entry Clear entry View general journal