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Prepare entries to record both the dividend declaration and its distribution. The stockholders' equity section of TVX Company on February 4 follows. Common stock- $10
Prepare entries to record both the dividend declaration and its distribution.
The stockholders' equity section of TVX Company on February 4 follows. 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 On February 5, the directors declare a 20% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $40 per share on February 5 before the stock dividendStep by Step Solution
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