Chapter 12 Corporations Student Work Papers 9. If there is a difference between the shares issued and the shares outstanding, the corporation probably some of the stock to hold as treasury stock. Chapter 12 Corporations Student Work Papers Corporations Continued: 11. On September 5, Blue Saddle Corp. issued 4,000 shares of $20 par preferred stock and 25,000 shares of $5 par common stock at par for cash. Prepare the journal entry to record the stock issue. 10. Creek Corp. has $52,000 of common stock outstanding and $15,000 of treasury stock. If the corporation has $24,000 of common stock not issued, calculate the following: Dollar value of shares issued Dollar value of shares authorized to issue 12. If shares are issued at the shareholders did not pay any premium. The cash received is equal to the stock's 13. Preferred shareholders have higher rights than 14. should first be allocated to the preferred shareholders. 15. If the corporation has cumulative preferred stock outstanding, the dividends must be allocated to any dividends in to ensure the shareholders receive the amount promised annually. 16. White Corporation paid a total of $75,000 in dividends during 2015. For the year, the corporation had 3,000 shares of cumulative preferred $6 stock, $15 par and 15,000 shares of common stock, $10 par issued. The corporation did not pay dividends in 20Y3 or 2014. Determine how much each common and preferred shareholder will receive. Preferred Shareholders Common Shareholders Total Distributed Dividends in arrears Regular dividend Remainder Total dividends paid Per share dividends