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Required information Skip to question [The following information applies to the questions displayed below.] The stockholders equity section of TVX Company on February 4 follows.
Required information
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[The following information applies to the questions displayed below.] The stockholders equity section of TVX Company on February 4 follows.
Common stock$15 par value, 150,000 shares authorized, 64,000 shares issued and outstanding | $ 960,000 |
---|---|
Paid-in capital in excess of par value, common stock | 421,000 |
Retained earnings | 547,000 |
Total stockholders equity | $ 1,928,000 |
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.
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