25. Solar Components Incorporated has 50,000 shares of $2 par value common stock outstanding. Solar Components declares a 5% stock dividend on July 1 when the stocks market value is $12 per share. The stock dividend is distributed on July 20. The journal entry for the distribution of the stock dividend is: Multiple Choice Account Title Debit Credit Retained Earnings 30,000 Common Stock Dividend Distributable 30,000 Account Title Debit Credit Common Stock, $2 Par Value 5,000 Common Stock Dividend Distributable 5,000 Account Title Debit Credit Common Dividend Payable 30,000 Cash 30,000 Account Title Debit Credit Common Stock Dividend Distributable 5,000 Common Stock, $2 Par Value 5,000 Account Title Debit Credit Common Stock Dividend Distributable 30,000 Common Stock, $2 Par Value 30,000 26. Market value per share is: Multiple Choice The price at which a stock is bought and sold. A contractual commitment by an investor to purchase unissued shares of stock. Stock not assigned a value per share. The right of common stockholders to protect their proportionate interests in a corporation by having the first opportunity to purchase additional shares of common stock issued by the corporation. An amount assigned to no-par stock. 27. Changes in accounting estimates are: Multiple Choice Considered accounting errors. Reported as prior period adjustments. Accounted for with a cumulative catch-up adjustment. Statement of cash flow items. Accounted for in current and future periods. 28. Prior period adjustments are reported in the: Multiple Choice Multiple-step income statement. Balance sheet. Statement of retained earnings. Statement of cash flows. Single-step income statement. 29.A company paid $0.55 in cash dividends per share. Its earnings per share is $2.55, and its market price per share is $26.25. Its dividend yield equals: Multiple Choice 9.7%. 46.4%. 4.6%. 2.1%. 21.6%.