CarWorks Company Has 100,000 Authorized Shares of $4 Par Common

question 119

Multiple Choice

CarWorks Company has 100,000 authorized shares of $4 par common stock.The company issued 40,000 shares at $8.Subsequently, CarWorks 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) $8,800
• B) $4,800
• C) $3,200
• D) $6,400

Identify and apply basic principles of legal writing across various types of documents.

Recognize and minimize the use of legalese to enhance clarity for laypeople.

Appreciate the role of drafting and editing in producing clear and effective legal documents.

Use gender-neutral language in legal writing.