FILL-IN-THE-BLANK-PRINCIPLES AND TERMINOLOGY3 point Each INSTRUCTIONS: Complete each of the following questions and statements by writing the appropriate words or amounts in the Answers column. Answers nonpublic or private corporations $ QUESTIONS/STATEMENTS 0. Corporations whose shares are owned by a small group are often called 1. The excess of issue price over par of common stock is termed an) 2. Fully paid stock reacquired by the issuing corporation is called 3. Land is acquired by issuing 4,000 shares of $100 par common stock with a current market price of $125 per share. At what amount should the land be recorded? 4-5. A corporation's outstanding stock is composed of 200,000 shares of $1 preferred and 500,000 shares of common, $100 par. At the end of its first year of operations, a total of $250,000 in dividends is to be distributed. Determine the total amount of dividends to be paid on the preferred stock and common stock 4. Preferred 5. Common 6. A balance sheet indicated 100,000 shares of common stock authorized, 90,000 shares issued, and 10,000 shares of treasury stock. If a cash dividend of $5 per share is declared on the common stock, what will be the total amount of the dividend? 7-9 State the net effect (increase, decrease, no effect) of the declaration and issuance of a stock dividend on each of the following: 7. Paid-in capital in excess of par 8. Retained earnings ....... 9. Total stockholders' equity 10. The three things that a corporation has to have to pay a cash dividend are (1) formal action by the board of directors, (2) sufficient retained earnings, and (3) $ $ $1