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ZY Companys Stockholders equity is comprised o 1,000 shares of P2 par common stock, P4,000 of additional paid-in capital on common stock and retained earnings

ZY Companys Stockholders equity is comprised o 1,000 shares of P2 par common stock, P4,000 of additional paid-in capital on common stock and retained earnings of P6,000.

If 40% stock dividend is declared when the stock was selling at P5 per share, the amount to be transferred from retained earnings account to share premium treasury stock is:

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