24. On Dec. 2, 2020 a company declares a cash dividend to be paid on Jan. 15, 2021. The Dec. 2 journal entry will: a. Decrease assets b. Increase liabilities c. Both a and b d. Neither a nor b. 25. All of the following are normally found in the owners' equity section of a balance sheet g a. Dividends payable. b. Common stock c. Additional paid-in capital. d. Retained earnings. 26. A transaction that decreases a liability may also a. Increase an asset account. b. Increase owners' equity. c. Decrease owners' equity. d. Decrease a different liability account. 27. The current ratio a. Is a measure of a company's liquidity. b. Divides current asset by annual operating expenses. c. Divides annual revenues by current liabilities. d. Is a measure of profitability. 28. On December 31, 2021, ABC company had 50,000 shares of its $100 par value common stock outstanding ABC declared a 2-for-1 stock split on January 1, 2022. Which of the following statements correctly describes ABC's common stock after the split? a ABC has 25,00 shares of $200 par value common stock outstanding b. ABC has 25,000 shares of $50 par value common stock outstanding ABC has 50,000 shares of $100 par value common stock outstanding ABC has 100,000 shares of $50 par value common stock outstanding c. 10.000. The