1. Kedzie Corporation was organized on January 1, 2019, with an authorization of 5,000,000 shares of $2 par value common stock. During 2019, Kedzie had the following common stock transactions:

Jan. 4: Issued 300,000 shares of common stock @ $16 per share.

Apr. 8: Issued 100,000 shares of common stock @ $12 per share.

July 29: Purchased 20,000 shares of common stock for the Treasury at $10 / share

Kedzie had no other transactions affecting common stock during the year.

What will be the reported amount of Common Stock and APIC-CS, respectively, on the Company's December 31, 2019 Balance Sheet?

Select one:

a. 760,000; 5,040,000

b. 6,000,000; 0

c. 800,000; 5,200,000

d. 600,000; 5,200,000

2. On June 1, 2019, 4,000 shares of $10 par value common stock are issued in exchange for new equipment. The equipment has a fair market value of $116,000. In recording this transaction, what amount should be allocated to APIC - CS?

Select one:

a. 76,000

b. 112,000

c. 40,000

d. 116,000

3. True or false. Stock dividends decrease total stockholder's equity.