n) that sells for a high prie O tal dist..buted by owporations to avoid liquidation D) that distr nated to emphyees as anmsal terns-es 3 the event of a corporate liquistaticm. Preferred stockholder 3) A) are guaranteed to receive a full refund of the stouck purchase price B) may retain their proportionate share of voting rights O) have first claim on remaining corporate assets after debts are paid D) are guaranteed to receive the par value of the preferred stock 38) Which of the following is included in the entry to record the issuance of 5,000 shares of $8 par value 38) A) Common Stock is debited for $40,000 B) Common Stock is credited for $110,000 O Cash is debited for $110,000 D) Paid-In Capital in Excess of Par Common is debited for $70,000 39) Moretown, Inc. had the following transactions in 2017, its first year of operations 39) Issued 32,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $28.00 per share. .Earned net income of $80,000. . Paid no dividends At the end of 2017, what is total stockholders' equity? A) $976,000 B) $32,000 C) $80,000 D) $896,000 40) Jenkins Realty, Inc. issued 13,000 shares of $1 stated value common stock for $13 per share. The 0) journal entry to record this transaction includes a credit to A) Common Stock -$1 Stated Value for $156,000 B) Paid-In Capital in Excess of Stated -Common for $156,000 C) Paid-In Capital in Excess of Stated Common for $13,000 D) Common Stock for $169,000 41) 41) The purchase of treasury stock A) increases assets and stockholders' equity B) increases assets and decreases stockholders' equity C) decreases assets and increases stockholders' equity D) decreases assets and stockholders' equity 42) following is included in the entry to record the purchase of 300 shares of treasury stock for $12 per share? 42) A corporation originally issued $7 par value common stock for $15 per share. Which of the A) Retained Earnings is debited for $1,800. B) Treasury Stock-Common is debited for $3,600. C Treasury Stock-Common is debited for $1,800. D) Treasury Stock-Common is credited for $45