17) A corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $22.00 per share. 17) $306,000 172,000 520.000 5995.000 Common Stock. $6 par, 102,000 shares authorized, 51,000 shares issued and outstanding Paid in Capital in Excess of Par Retained Earings Total Stockholders' Equity Which of the following would be included in the entry to record the distribution of a 17% stock dividend? A) Stock Dividends would be debited for $104,040 B) Stock Dividends would be credited for 552,020. C) Common Stock-56 Par Value would be credited for 552,020 D) Paid-In Capital in Excess of Par-Common is debited for $104,040. 18) On June 30, 2017. Rangers, Inc. showed the following data on the equity section of their balance 18) sheet: Stockholders' Equity Common Stock, Si par; 197,000 shares authorized, 159,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholder's Equity $159,000 $261,000 951.000 $1371.000 On July 1, 2017, the company declared and distributed a 12% stock dividend. The market value of the stock at that time was $22 per share. Following this transaction, what is the number of shares issued? A) 178,080 B) 159,000 C) 342,600 D) 119,640 19) 19) On March 1, 2016, Baker Services issued a 9% long-term notes payable for $18,000. It is payable over a 3-year term in $6,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2017. How will the notes payable be shown on the balance sheet dated December 31, 2016? A) $18,000 shown as current liability only B) $6,000 shown as current liability and $12,000 shown as long-term liability C) the entire $18,000 shown as long-term liability D) $6,000 shown as current liability and 518,000 shown as long-term liability 20) 20) Lafayette, Inc. was incorporated on January 1, 2014. Lafayette issued 5,000 shares of common stock and 700 shares of preferred stock on that date. The preferred stock is cumulative. S100 par, with an 10% dividend rate. Lafayette has not paid any dividends yet. In 2017, Lafayette had its first profitable year, and on November 1, 2017. Lafayette declared a total dividend of $40,000. What is the total amount that will be paid to common stockholders? A) 528,000 B) $40,000 C) $12,000 D) $7,000