5) Which is not a characteristic of a corporation? a. transfer of ownership through stock b. personal liability of stockholders C. continuous life beyond the life of stockholders d. separate legal existence 6) On December 2nd, when Rhoades Corp. has 20,000 outstanding shares of common stock outstanding, the Board of Directors declares a cash dividend of $2 per share to be paid on January 15th to stockholders as of December 20th (the date of record). a) What journal entry does Rhoades record on December 2nd? b) What journal entry does Rhoades record on December 20th? c) What journal entry does Rhoades record on January 15th? 7) On June 17th, Rhoades Corp. Board of Directors declares a 10% STOCK dividend to be paid in August to stockholders as of July 20th (the date of record). If there are 250,000 shares outstanding before the dividend is distributed, how many shares are outstanding after the dividend? 8) On November 4th, Rhoades Corp.'s $6 par value common stock is selling for $130, and there are 500,000 shares outstanding. After they affect a stock split, there are 1.5 million shares outstanding. a) What is the per share par value after the stock split? b) Does Rhoades make a journal entry to record the stock split? Why/why not