Question
A company with 100,000 authorized shares of $5 par common stock issued 40,000 shares at $7. Subsequently, the company declared a 2% stock dividend on
A company with 100,000 authorized shares of $5 par common stock issued 40,000 shares at $7. Subsequently, the company declared a 2% stock dividend on a date when the market price was $9 a share. What is the amount transferred from the retained earnings to paid-in capital accounts as a result of the stock dividend?
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College Accounting A Practical Approach
Authors: Jeffrey Slater, Brian Zwicker
12th Canadian edition
133133230, 978-0133133233
