Exercise 11-6 Stock dividends and per share book values LO P2 The following information applies to t

 
   

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Exercise 11-6 Stock dividends and per share book values LO P2 The following information applies to the questions displeyed below 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, 56,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 560,000 525,000 675,000 $1,760,000 Total stockholders' equity On February 5, the directors declare a 12% stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $39 per share on February 5 before the stock dividend. The stock's market value is $35 per share on February 28. Exercise 11-6 Part 1 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 2 1 Record the declaration of 12% stock dividend. Note: Enter debits before credits Debit Credit General Jourmal Date Feb 05 Next of 6 Exercise 11-6 Stock dividends and per share book values LO P2 [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-$10 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 $ 560,000 525,000 675,000 $1,760,000 On February 5, the directors declare a 12 % stock dividend distributable on February 28 to the February 15 stockholders of record. The stock's market value is $39 per share on February 5 before the stock dividend. The stock's market value is $35 per share on February 28. Exercise 11-6 Part 1 1. Prepare entries to record both the dividend declaration and its distribution. View transaction list Journal entry worksheet 1 2 Record the distribution of 12 % stock dividend. Note: Enter debits before credits. Debit Credit General Journal Date Feb 28 co of 6 Next > 3 45