On December 1 2019, Murphy, Inc had 35,000 shares of $7 par value common stock issued and outstanding The next day it declared a 50% stock didend The market value of the stock on that date was $15 per share Which of the following is the correct jounal entry to record this transaction? Most well-known companles are corporations and tend to be large multinational businesses O True O False O A. debit Stock Dividends $525.000, credit Common Stock $245.000, and credt Paid-In Capital in Excess of Par $280.000 O B. debit Stock Dividends $525,000 and credit Cash $525,000 O C. debit Common Stock $122,500 and credit Cash $122.500 O D. debit Stock Dividends $122,500 and credit Common Stock Dividend Distributable $122.500 The following information is from the December 31, 2018 balance sheet of May Corporation S390,000 25,000 152,000 356,000 80,900 Preferred Stock, $100 par Paid-In Capital in Excess of Par-Preferred Common Stock, $1 par Paid-In Capital in Excess of Par-Common Retained Earnings Total Stockholders Equity Which of the following items are not reported after income from continuing operations? OA. gross profit O B. net income OC. earnings per share O D. discontinued operations $1,003 What was the total paid-in capital as of December 31, 2018? OA. $1,003.900 O B. $746,000 OC. $898,000 O D. $923,000 Errors are corrected by adjusting the beginning balance in the Retained Earnings account in the period the error is discovered If a company retires preferred stock, O True O False 0 A, the number of outstanding shares wil increase O B. total stockholders equity will decrease C, O D. the company can record a gain or loss on retirement of stock total stockholders' equity will increase