4. Swifty Company is a publicly held corporation whose $1 par value stock is actively traded at $61 per share. The company issued 3200 shares of stock to acquire land recently advertised at $226000. When recording this transaction, Swifty Company will

A.credit Paid-In Capital in Excess of Par for $195200.

B. debit Land for $226000.

C. credit Common Stock for $195200.

D. debit Land for $195200.

5.Bramble Company is authorized to issue 22800 shares of 7%, $100 par value preferred stock and 1060000 shares of no-par common stock with a stated value of $1 per share. If Bramble issues 11400 shares of preferred stock for land with an asking price of $1208000 and a market value of $1151000, which of the following would be the journal entry for Bramble to record?

a.

Land	1140000
Preferred Stock		1140000

b.

Land	1208000
Preferred Stock		1140000
Paid-in Capital in Excess of Par-Preferred		68000

c.

Land	1151000
Preferred Stock		1140000
Paid-in Capital in Excess of Par-Preferred		11000

d.

Land	1151000
Preferred Stock		1151000

6.G. Sunland Corporation was organized on January 1, 2020, with authorized capital of 1120000 shares of $10 par value common stock. During 2020, Sunland issued 66000 shares at $11 per share, purchased 6100 shares of treasury stock at $12 per share, and sold 6100 shares of treasury stock at $14 per share. What is the amount of additional paid-in capital at December 31, 2020?

A.$78200

B.$0

C.$12200

D.$66000

7.The following data is available for Sunland Service Corporation at December 31, 2020:

Common stock, par $10 (authorized 100000 shares)	$426000
Treasury Stock (at cost $15 per share)	30000

Based on the data, how many shares of common stock are outstanding?

A.40600

B.50000

C.49000

D.42600

8.Concord Manufacturing Corporation purchased 9300 shares of its own previously issued $10 par common stock for $188000. As a result of this event,

A.Concords Common Stock account decreased $93000.

B. Concords total stockholders equity decreased $188000.

C. Concords Paid-in Capital in Excess of Par account decreased $95000.

D.All of these answer choices are correct.

9.Waterway Corporation splits its common stock 2 for 1, when the market value is $89 per share. Prior to the split, Waterway had 100000 shares of $20 par value common stock issued and outstanding. After the split, the par value of the stock

A. is reduced to $2 per share.

B. remains the same.

C. is reduced to $10 per share.

D.is reduced to $40 per share.