Retained Earnings Assignment

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    Retained Earnings Assignment

    Dillion Company is authorized to issue 1,000,000 shares of $40 par value common stock. By November 15, 2016, the company had issued 50,000 shares at $50 per share. On November 15, 2016, the company declared a 30% stock dividend when the market price was $52 per share. What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend? A. $ 600,000 B. $ 780,000 C. $3,120,000. Get Accounting homework help today

    Dillion Company is authorized to issue 1,000,000 shares of $40 par value common stock. By November 15, 2016, the company had issued 50,000 shares at $50 per share. On November 15, 2016, the company declared a 30% stock dividend when the market price was $52 per share.

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    What amount is transferred from retained earnings to paid-in capital as a result of the stock dividend?

    A. $ 600,000

    B. $ 780,000

    C. $3,120,000. Get Accounting homework help today