1.On June 1, 2019, Lilo Inc. announces a 3:1 stock split on its 30,000 shares of $6 par value common stock outstanding. The memo announcing the split will include information about the increase in the number of stocks outstanding which will be: *

$2

$18

10,000 shares

90,000 shares

2.On the dividend payment date *

a dividend becomes a current obligation

no entry is required

an entry may be required if it is a stock dividend

dividends payable is debited

3.ABC Company is incorporated on January 1, 2018. During its first year, the corporation issued 20,000 shares of $10 par value preferred stock and 300,000 shares of $1 par value common. At December 31, 2018, the company declared $50,000 cash dividend to be paid on January 13, 2019. The record on payment date will include: *

Debit Cash Dividend

Credit Cash Dividend

Debit Dividend Payable

Credit Dividend Payable

4.The maturity date of a 60- day note date March 10, 2020 is *

May 7, 2020

May 8, 2020

May 9, 2020

May 10, 2020