16. Landess Corporation currently has 120,000 shares outstanding of $1 par value common stock. The stock was originally issued for $12 per share. On March 15, the board of directors declares a 10% stock dividend when the stock is selling for $16 per share. Which of the following is the correct journal entry to record this transaction? A. Debit Common stock $12,000, debit Paid-in capital $180,000 and credit Stock Dividends $192,000. B. Debit Stock Dividends $192,000 and credit Common stock $192,000. C. Debit Stock Dividends $192,000, credit Common stock Distributable $12,000 and credit Paid-in capital $180,000. D. Debit Paid-in capital $192,000 and credit Stock Dividends $192,000 17. Which of the following occurs when the board of directors declares a 2-for-1 stock split on 20,000 outstanding shares of $15 par common stock? A. The par value of the stock remains the same. B. The par value of the stock increases to $30 per share. C. Outstanding shares decrease to 10.000. D. Outstanding shares increase to 40,000. 18. Which of the following is the correct order of accounts in the stockholders' equity section of the balance sheet? (Assume preferred stock is issued at par.) A. Common stock, Preferred stock, Paid-in capital in excess of par-Common Stock, Retained earnings. B. Common stock, Paid-in capital in excess of par-Common Stock, Preferred stock, Retained earnings Preferred stock, Paid-in capital in excess of par-Common Stock, Common stock, Retained earnings Preferred stock, Common stock, Paid-in capital in excess of par-Common Stock, Retained earnings