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A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

a. $3,200

b. $6,400

c. $4,800

d. $8,800

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9411260

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