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Required information The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February
Required information 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-$5 par value, 150,000 shares authorized, 65,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 325,000 525,000 $1,525,000 Total stockholders' equity On February 5, the directors declare a 14% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $34 per share on February 5 before the stock dividend. The stock's market value is $30 per share on February 28. Record the distribution of 14% stock dividend. Note: Enter debits before credits. General Journal Credit Date Feb 28 etained earnings 273,000 Common stock dividend distributable 45,500 Paid-in capital in excess of par value, Common stock 227,500 View general journal Record entry Clear entry
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