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The stockholders' equity of TVX Company at the beginning of the day on February 5 follows. Common stock-$10 par value, 150,000 shares authorized, 62,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 620,000 423,000 552,000 $1,595,000 Total stockholders' equity 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 $31 per share on February 5 before the stock dividend. Journal entry worksheet > 1 2 Record the declaration of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Retained earnings Feb 05 Common stock dividend distributable Paid-in capital in excess of par value, Common stock Journal entry worksheet 2 1 Record the distribution of a 2% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 28 2. Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.) Answer is not complete. TVX COMPANY Stockholders' Equity Section of the Balance Sheet February 28 Common stock 93,000 Paid-in capital in excess of par value, common stock Retained earnings $ Total stockholders' equity 93,000 In Draco Corporation's first year of business, the following transactions affected its equity accounts. Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares. Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares. Reacquired 360 shares of common stock for $62 each Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock-$2 par value Paid-in capital in excess of par value, preferred stock Paid-in capital in excess of par value, common stock Preferred stock-$10 par value Retained earnings Less: Cost of treasury stock Total stockholders' equity 0

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