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The stockholders’ equity of TVX Company at the beginning of the day on February 5 follows:
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Common stock—$15 par value, 150,000 shares authorized, 54,000 shares issued and outstanding |
$ |
810,000 |
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Paid-in capital in excess of par value, common stock |
525,000 |
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Retained earnings |
675,000 |
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Total stockholders’ equity |
$ |
2,010,000 |
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On February 5, the directors declare a 10% 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.
Record the declaration of 10% stock dividend.
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Date |
General Journal |
Debit |
Credit |
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Feb 28 |
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