Question
A company with 100,000 authorized shares of $4 par common stockissued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on adate
A company with 100,000 authorized shares of $4 par common stockissued 40,000 shares at
$8. Subsequently, the company declared a 2% stock dividend on adate when the market price
was $11 a share. What is the amount transferred from the retainedearnings account to paid-in
capital accounts as a result of the stock dividend?
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Cornerstones of Financial Accounting
Authors: Jay Rich, Jeff Jones
4th edition
978-1337690881, 9781337669450, 1337690880, 1337690899, 1337669458, 978-1337690898
