Required information Exercise 11-6 Stock dividends and per share book values LO P2 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, 70,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders equity $1,400,000 525.000 675,000 $2,600,000 On February 5, the directors declare a 16% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $41 per share on February 5 before the stock dividend. The stock's market value is $35 per share on Februry 28. Exercise 11-6 Part 1 Exercise 11-6 Part 1 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 2 1 Record the declaration of 16 % stock dividend. Note: Enter debits before credits. Debit General Journal Date Credit Feb 05 View general journal Clear entry Record entry View transaction list Journal entry worksheet 2 1 Record the distribution of 16% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 View general journal Clear entry Record entry