A corporation had 50,000 shares of $20 par value common stock outstanding on July 1. Later that day, the board of directors declared a 10% stock dividend when the market value of each share was $27, to be distributed one month from now. The entry to record this dividend declaration is: E. No entry is made until the stock is issued A company issued 7% preferred stock with a $100 par value. This means that: A. Preferred shareholders have a guaranteed dividend. B. The amount of the potential dividend is $7 per year per preferred share. C. Preferred shareholders are entitled to 7% of the annual income. D. The market price per share will approximate $100 per share. A company's board of directors votes to declare a total cash dividend of $25,000. The company has 2, 500 shares of $1 par common stock and 400 shares of 4%, $200 par preferred stock outstanding. Preferred dividends are non-cumulative. What is the total amount that will be paid to the preferred shareholders? A. $1,000 B. $22, 500 C. $400 D. $3, 200 E. $25,000