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Find what amount be transferred from ncts retained earning

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Reference no: EM132831226

NCT Corporation has the following information in its shareholders' equity:

  1. Ordinary Share Capital of $1,600,000 - P200 par value
  2. $400,000 of Share Premium
  3. Retained Earnings of $900,000.

Problem 1: Share dividend of 6% was declared when the share is selling for $500 per share. What amount should be transferred from NCT's Retained Earnings account?

a. 240,000

b. 96,000

c. 920,000

d. 4,800,000

Reference no: EM132831226

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