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Step2247 [10]
3 years ago
12

A company with 108,000 authorized shares of $4 par common stock issued 33,000 shares at $12. Subsequently, the company declared

a 2% stock dividend on a date when the market price was $31 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
Business
1 answer:
liq [111]3 years ago
8 0

Answer:

$20,460

Explanation:

Data provided as per the question below:-

Common stock = 33,000 shares

Market price per share = $31

Stock dividend percentage = 2%

The computation of stock dividend is shown below:-

Price per share = Common stock × Market price per share

= 33,000 × $31

= $1,023,000

Stock dividend = Price per share × Stock dividend percentage

= $1,023,000 × 2%

= $20,460

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It should be noted that the predetermined overhead rate is typically calculated at the beginning of an accounting period. It is gotten when the estimated manufacturing overhead is divided by estimated activity base.

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Marci Luner is going over the finances of her clothing boutique firm. If her firm has a net income of​ $131,000 and net sales of
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Yuki888 [10]

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3 years ago
Anytown households that earn more than $75,000 tend to buy sports equipment, while households that earn less than $75,000 tend t
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Answer:

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Hope this answer helps you :)

Have a great day

Mark brainliest

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3 years ago
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