FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

47. A company with 100,000 authorized shares of $5 par common stock issued 40,000 shares at $7. Subsequently, the company declared 2% stock dividend on

image text in transcribed

47. A company with 100,000 authorized shares of $5 par common stock issued 40,000 shares at $7. Subsequently, the company declared 2% stock dividend on a date when the market price was $9 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? a. $4,000 b. $5,600 C. $18,000 d. $7,200. e. $14,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

AS9101D Auditing For Process Performance Combining Conformance And Effectiveness To Meet Customer Satisfaction

AS9101D Auditing For Process Performance Combining Conformance And Effectiveness To Meet Customer Satisfaction

Authors: Chad Kymal

1st Edition

0873898079, 978-0873898072

More Books

Students also viewed these Accounting questions

Question

★★★★★
What is the maximum saver's credit available to taxpayers? What taxpayer characteristics are relevant to the determination?

Answered: 1 week ago

Question

★★★★★
Assume that you are a new project manager about to lead your first construction team. The team consists of the owner, architect, engineers, jobsite superintendent, and you. Only the jobsite...

Answered: 1 week ago

Question

★★★★★
6.1 Define learning. (APA 1.1, 1.2)

Answered: 1 week ago

Question

★★★★★
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. (For specific identification, the March 9 sale consisted of 80 units...

Answered: 1 week ago

Question

★★★★★
Instructions The following selected transactions were completed during August between Summit Company and Bearfooth Co. Both companies use the net method under a perpetual inve Aug 1 2 5 15 Summit...

Answered: 1 week ago

Question

★★★★★
Teague was the only employee from AgriFund in Tanzania. Group of answer choices True False

Answered: 1 week ago

Question

★★★★★
Parker Thomas is the concierge at the Trans-Canada Resort in Michigan. He is single with one other dependent. He receives the standard tipped hourly wage for the state. During the week ending June 4,...

Answered: 1 week ago

Question

★★★★★
Several years after reengineering its production process, Biltmore Corporation hired a new controller, Christine Erickson. She developed an ABC system very similar to the one used by Biltmore's chief...

Answered: 1 week ago

Question

★★★★★
The performance management system at the Quantum Corporation focuses on measuring the productivity of frontline workers in the company. The system then provides feedback to workers to help motivate...

Answered: 1 week ago

Question

★★★★★
Air Meals is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company's planning budget for December appears below: Air Meals Planning Budget...

Answered: 1 week ago

Question

★★★★★
Suppose that the lifetime (x) of certain model of car battery follows an exponential distribution with a mean life of 5 years" a. What is the probability distribution of the life of the car battery?...

Answered: 1 week ago

Question

★★★★★
A neglect of American-style managerialism. A lack of emphasis on those general aspects of management normally emphasized in Anglo-Saxon countries, although criticized by American commentators, does...

Answered: 1 week ago

Question

★★★★★
2 How should the Belgian management in the joint venture have handled the issue of recruitment?

Answered: 1 week ago

Question

★★★★★
Goal setting and appraisal. Several companies use goal setting extensively, and see it as useful. This involves the setting of individual targets, face-to-face performance discussions, and weekly to...

Answered: 1 week ago

Previous Question Next Question