16) A corporation sold 17,500 shares of its $10 par value common stock at a cash price of S15 per share. The entry to record this transaction would include: A) A debit to Cash for $175,000. B) A debit to Paid-in Capital in Excess of Par Value, Common Stock for $87,500. C) A credit to Paid-in Capital in Excess of Par Value, Common Stock for $262,500. D) A credit to Common Stock for $262.500 E) A credit to Common Stock for $175,000. 17) A corporation issued 320 shares of its $5 par value common stock in payment of a $4000 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: A) A S1600 debit to Organization Expenses. B) A S4000 credit to Common Stock C) A S2400 credit to Paid-in Capital in Excess of Par Value, Common Stock. Stock D) A S4000 debit to Legal Expenses. E) A $4000 credit to Cash. 18) A company issued 180 shares of $100 par value common stock for $21,400 cash. The total amount of paid-in capital in excess of par is: A) $100. B) S18,000. C) $3400. D) $1800. E) $21,400. 19) A corporation issued 5300 shares of $10 par value common stock in exchange for some land with a market value of $76,000. The entry to record this exchange is: A) Debit Common Stock 553,000; debit Paid-In Capital in Excess of Par Value, Common Stock $23,000; credit Land $76,000. B) Debit Land $76,000; credit Common Stock $76,000 C) Debit Land $53,000; credit Common Stock $53,000. D) Debit Land $76,000; credit Common Stock S53,000; credit Paid-In Capital in Excess of Par Value, Common Stock $23,000. E) Debit Common Stock $76,000; credit Land S76,000. 20) Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 42,000 shares authorized, 22,200 shares issued, and 16,800 shares of common stock outstanding. The journal entry to record the dividend declaration is: A) Debit Retained Earnings $8400; credit Common Dividends Payable $8400. B) Debit Common Dividends Payable $8400; credit Cash $8400. C) Debit Common Dividends Payable $11,100; credit Cash $11,100. D) Debit Retained Earnings $11,100; credit Common Dividends Payable $11,100. E) Debit Retained Earnings $21,000; credit Common Dividends Payable $21,000. 21) A company's board of directors votes to declare a cash dividend of $1.30 per share of common stock. The company has 26,000 shares authorized, 21.000 issued, and 20.500 shares outstanding. The total amount of the cash dividend is: A) $53,950. B) S33,800. C) 532,800.. D) $26,650. E) $27,300