Question
Question Content Area A company with 113,849 authorized shares of $4 par common stock issued 43,387 shares at $16. Subsequently, the company declared a 2%
Question Content Area
A company with 113,849 authorized shares of $4 par common stock issued 43,387 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $25 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? When required, round your answer to the nearest dollar.
a.$56,925
b.$21,694
c.$3,471
d.$18,223
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Survey of Accounting
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
3rd Edition
978-1259683794, 77490835, 1259683796, 9780077490836, 978-0078110856
