Required information. [The following information applies to the questions displayed below.] The stockholders' equity section of...

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Required information. [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, 56,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $840,000 429,000 554,000 $ 1,823,000 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. Required information. [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, 56,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $840,000 429,000 554,000 $ 1,823,000 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.