Osbourne Company issued 50,000 shares of common stock in exchange for manufacturing equipment. The equipment was valued at $1,000,000. The stock has par value of $0.01 per share. The entry to record this transaction would include which of the following line items? Debit Cash $5,000. Credit Gain on sale of common stock $1,050,000. Credit Paid-in capital $999,500. Credit Common stock $1,000,000. Peterson Company issued 4,000 shares of preferred stock for $240,000. The stock has a par value of $60 per share. The journal entry to record this transaction would: credit Cash $240,000, debit Common stock $4,000, and debit Paid-in capital $236,000. debit Cash $240,000, credit Common stock $4,000, and credit Paid-in capital $236,000. credit Cash $240,000 and debit Inferred stock $240,000. debit Cash $240,000 and credit Preferred stock $240,000. Occidental Produce Company has 40,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $0.01 par value; the preferred stock is 4% non-cumulative, with $100 par value. On October 15, 2014, the company declares a total dividend payment of $40,000. What is the total amount of dividends that will be paid to the common shareholders? $40,000 $32,000 $400 $4,500 From its inception through the year of 2014, Quicksales Company was profitable and made strong dividend payments each year. In the year 2015, Quicksales had major losses and paid no dividends. In 2016, the company started making large profits again, and they were able to pay dividends to all shareholders both common and preferred. There are 1,500 shares of cumulative, 7% preferred stock outstanding. The preferred stock has a par value of $100. What is the total amount of dividends which should be paid to the preferred shareholders in December, 2016? $210 $22,000 $10,500 $21,000