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A corporation issued 6,000 shares of its exist10 par value common stock in exchange for land that has a market value of exist84,000. The entry to record this transaction would include: A) A debit to Common Stock for exist60,000. B) A debit to Land for exist60,000. C) A credit to Land for exist60,000. D) A credit to Contributed Capital in Excess of Par Value, Common Stock for exist24,000. E) A credit to Common Stock for exist84,000. A company issued 60 shares of exist100 par value stock for exist7,000 cash. The total amount of contributed capital in excess of par is: A) exist 100. B) exist 600. C) exist1,000. D) exist6,000. E) exist7,000. A company declared a exist0.50 per share cash dividend. The company has 20,000 shares authorized, 9,000 shares issued, and 8,000 shares of common stock outstanding. The journal entry to record the dividend declaration is: (A) Retained Earnings 4,000 Common Dividends Payable 4,000 (B) Common Dividends Payable 4,000 Cash 4,000 (C) Retained Earnings 4, 500 Common Dividends Payable notequalto 4, 500 (D) Common Dividends Payable 4, 500 Cash 4, 500 (E) Retained Earnings 5,000 Common Dividends Payable 5,000 A) A Above. B) B Above. C) C Above. D) D Above. E) E Above. A corporation had 50,000 shares of exist20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market valued of each share was exist27. The entry to record this dividend is: (A) Retained Earnings 135,000 Common Stock Dividend Distributable 135,000 (B) Retained Earnings 135,000 Cash 135,000 (C) Retained Earnings 135,000 Common Stock Dividend Distributable 100,000 Contributed Capital in Excess of Par Value, Common Stock 35,000 (D) Retained Earnings 100,000 Common Stock Dividend Distributable 100,000