A. Sunshine Company issued 4,000 shares of its $5 par value common stock in payment of its attorney's bill of $80,000. The bill was for services performed in helping the company incorporate. Crain should record this transaction by debiting a. Legal Expense for $20,000. b. Legal Expense for $80,000. c. Organization Expense for $20,000. d. Organization Expense for $80,000. B. The following data is available for Santos Service Corporation at December 31, 2017: Common stock, par $10 (authorized 100,000 shares) $400,000 Treasury Stock (at cost $15 per share) $ 27,000 Based on the data, how many shares of common stock are outstanding? a. 38,200 b. 40,000 C. 49,880 d. 50,000 C. A partners' capital statement explains a. the amount of legal liability of each of the partners. b. the types of assets invested in the business by each partner. c. how the partnership will be capitalized if a new partner is admitted to the partnership. d. the changes in each partner's capital account and in total partnership capital during a period. D. Common Stock Dividends Distributable is classified as a(n) a. asset account. b. stockholders' equity account. C. expense account. d. liability account