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Please help me fill this out and explain the computations. At the bottom I'm supposed to do journal entries to record both the dividend declaration
Please help me fill this out and explain the computations. At the bottom I'm supposed to do journal entries to record both the dividend declaration and it's distribution along with journal entries to prepare the stockholders' equity section after the stock dividend is distributed (assume no other changes to equity). Let me know if you need any other information. If so, I can add another picture. Thanks!
50% stock dividend (par value) 3-for-1 stock split Stockholders' Equity section of balance sheet Common Stock, $10 par value, 75,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 200,000 410,000 $ 1,360,000 1,360,000 $ 1,360,000 Common stock shares outstanding 75,000 Add your computations under the column: Ex 13-8, TVX Company 10% stock dividend (FMV = $31/share) or 3-for-1 stock split Stockholders' Equity section of balance sheet Common Stock, $10 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 $ 600,000 425,000 550,000 $ 1,575,000 1,575,000 $ 1,575,000 Common stock shares outstanding 25,000 Add your computations under the column: Journal entries Feb 5 Feb 28Step by Step Solution
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