83) A corporation sold 14,000 shares of its S1 par vau common stock at a ceash price of $13 per share. The entry to record entry to record this transaction would include 83) A) A debit to Cash for $14,000. B) A credit to Paid-in Capital in Excess of Par Value, Common Stock for $196,000. C) A credit to Common Stock for $14,000. D) A debit to Paid-in Capital in Excess of Par Value, Common Stock for $182,000 E) A credit to Common Stock for $182,000 84) A premium on common stock: SA) A) Occurs whon a corporation sells its stock for more than par or stated value B) Is prohibited in most states. C) Is the difference between par value and issue price when the amount paid is below par. D) Represents capital gain on sale of stock E) Represents profit from issuing stock 85) The date the directors vote to declare and pary a dividend is called thic: A) Date of payment. B) Liquidating date. C) Date of stockholders' meeting D) Date of record E) Date of declaration 96 86) 86) A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash dividend is A) Debit Retained Earnings $12,000, credit Common Dividend Payable $12,000 B) Debit Common Dividend Payable $12,000, credit Retained Eamings $12,000 C) Debit Dividend Expense $12,000, credit Cash $12,000, D) Debit Dividend Expense S12,000, credit Common Dividend Payable $12,000. E) Debir Common Dividend Payable $12,000, credit Cash $12,000 87 87) Preferred stock which confers nights to prior periods unpaid dividends even if they were not declared is called A) Noncumulative preferred stock B) Cumalative preferred stock C) Convertible preferred stock D) Callable preferred stock E) Participating preferred stock 20