The stockholders equity of TVX Company at the beginning of the day on February 5 follows:

Common stock$15 par value, 150,000 shares authorized, 69,000 shares issued and outstanding	$	1,035,000
Paid-in capital in excess of par value, common stock		525,000
Retained earnings		675,000
Total stockholders equity	$	2,235,000

On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stocks market value is $34 per share on February 5 before the stock dividend. The stocks market value is $30 per share on February 28.

Journai entry worksneet 2 Record the declaration of 12% stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit Feb 05 Retained earnings Common stock dividend distributable 124,200 Paid-in capital in excess of par value, Common stock Record entry Clear entry View general journal