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What is the amount transferred from the retained earnings

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Problem 1: A company with 84,000 authorized shares of $6 par common stock issued 31,000 shares at $15. Subsequently, the company declared a 2% stock dividend on a date when the market price was $33 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. 520,460

b. $55,440

c. $16,740

d. $3,720

Reference no: EM132787474

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