20) it awte $30,000 on the top corner

cumulative preferre par value has 1,500 shaecember 31, 2017, the directors declare 20) On December 31, 2017, 90,000 shares of cash dividend. The entry to record the would include: $10 par value common stock declaration of the dividend a credit of $30,000 to Dividends Payable. A B a credit of $30,000 to Cash Dividends C a note in the financial statements that dividends of $3 per share are in arrears on preferred stock tr an. a debit of $30,000 to Common Stock. for 2017 D none of the above, E 21) On January 1, Layline Corporation had 160,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20, Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a credit to Common Stock Dividends Distributable for $360,000. A debit to Stock Dividends for $360,000. B credit to Cash for $360,000. C D credit to Common Stock Dividends Distributable for $120,000. E none of the above. 22) On January 1, Sly Corporation had 120,000 shares of $10 par value common stock outstanding. On March 17, the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was s 13 on March 17. The entry to record the transaction of March 17 would include a A credit to Stock Dividends for $54,000. B credit to Cash for $234,000. C credit to Common Stock Dividends Distributable for $180,000. debit to Common Stock Dividends Distributable for $180,000 D E none of the above. 23) In Ramon Company, Treasury Stock increased $20,000 from a cash purchase, and Retained Earnings increased $80,000 as a result of net income of $120,000 and cash dividends paid of $40,000. Net cash used by financing activities is A $120,000. B $40,000. $20,000. D $60,000. E none of the above