Business, 17.04.2020 04:35 1341220857

The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows. Common stock—$20 par value, 150,000 shares authorized, 64,000 shares issued and outstanding $ 1,280,000 Paid-in capital in excess of par value, common stock 424,000 Retained earnings 548,000 Total stockholders’ equity $ 2,252,000 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.

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The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows. Common st...

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