Exercise - Small Stock Dividends
Question # 00766666
Posted By:
Updated on: 06/24/2020 07:00 AM Due on: 07/02/2020
Exercise - Small Stock Dividends
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 - $560,000
Paid-in capital in excess of par value, common stock - 423,000
Retained earnings - 547,000
Total stockholders' equity - $1,530,000
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.
Prepare the stockholders' equity section after the stock dividend is distributed. (Assume no other changes to equity.)
-
Rating:
/5
