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

Question

1 Approved Answer

A company with 94,000 authorized shares of $7 par common stock issued 36,000 shares at $16. Subsequently, the company declared a 2% stock dividend on

A company with 94,000 authorized shares of $7 par common stock issued 36,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $21 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a.$10,080

b.$5,040

c.$15,120

d.$39,480

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

Advanced Accounting

Advanced Accounting

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

11th Edition

978-0132568968, 9780132568968

More Books

Students also viewed these Accounting questions

Question

★★★★★
Pure monopoly guarantees economic profits. Discuss whether this is a valid statement.

Answered: 1 week ago

Question

★★★★★
Write an SQL query that makes use of the Model clause to estimate the monthly production of milk in 2011 for each region to be equal to the average of the production of milk for that month during the...

Answered: 1 week ago

Question

★★★★★
For each of the following scenarios, determine if there is an increase or a decrease in demand for the good in italics. a. b. c. d. 102 The price of oranges increases. The cost of producing tires...

Answered: 1 week ago

Question

★★★★★
You are the CFO of RealNetworks on July 1, 2008. The companys stock price is $6.74 and its convertible debt (as shown in Table 15.7) is now callable. a. What is the value of the shares the...

Answered: 1 week ago

Question

★★★★★
A company with 94,000 authorized shares of $7 par common stock issued 36,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $21 per share....

Answered: 1 week ago

Question

★★★★★
Abhijeet owns a 3 0 % interest in the capital and profits of Emerald Company ( a calendar year partnership ) . For tax year 2 0 2 4 , the partnership earned revenue of $ 9 0 0 , 0 0 0 and had...

Answered: 1 week ago

Question

★★★★★
Indicate which one of the following biases/fallacies are of concern in this case. My last car repair cost me $200. This time the mechanic said that my car needs repairs that will cost over $1000....

Answered: 1 week ago

Question

★★★★★
David Porter is the management accountant at Spruce Bank, where the data science department is leading an initiative to predict whether loans will default or repay. The default rate in the training...

Answered: 1 week ago

Question

★★★★★
Explain the following based on Professional Career Planning: 1. Self-Assessment - Self Analyzing, Self-Upgrading and Self-Improvement 2. Hard Skills 3. Soft Skills 4. Importance of Vision in Career...

Answered: 1 week ago

Question

★★★★★
Analysis of Financial Projections - With Given Case Data ----------Total Number of Students---------- 20 25 30 37 Total Revenue: 2-3 year olds ($17 per day x 250/12 x 80%) 2,550 3,400 4,250 5,383...

Answered: 1 week ago

Question

★★★★★
Matt cannot go through 24 million scholarship search results. What are some strategies he can use to narrow his scholarship search and maximize his chances of getting more scholarship money?

Answered: 1 week ago

Previous Question Next Question