July C Common Stock par value S6 per share Sept 1 Common Stock 16,000 Retained Earmings Cash (hrchased 4,000 shares issued on July 1 treasury at 510 per share) Instructions On the basis of the explanation for each entry, prepare the entry that should have beem made for the transactions 5. OnOctober 10, the board ofdirectors ofPatem Crporation declared a 15% stock dividend. On October 10, the company had 10,000 shares of S1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to sharcholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend 6. Parker Company has 24,000 shares of S1 par common stock issued and outstanding. The company also has 2,000 shares of$100 par 5%om ulative preferred stock outstanding. The company did not pay the preferred dividends in 2017 or 2018. What amount of dividends must the company pay the preferred shareholders in 2019 if they wish to pay the common stockholders a dividend? 7. Domaine Corporation is authorized to issue 1,000,000 shares of SI par value common stock. During 2018, the company has the following stock transactions Jan. 15 Issued 500,000 shares of stock at $7 per share. Sept. 5 Purchased 30,000 shares of common stock for the treasury at $9 per share. Instructions Journalize the transactions for Domaine Corporation