Q1. South Beach Apparel issued 10,000 shares of S1 par value stock for $5 per share. What is true about the journal entry to record the issuance? A. Debit Common Stock $10,000 B. Credit Cash $50,000 C. Credit Common Stock $50,000 D. Credit Additional Paid-In Capital $40,000 Q2. The Surf's Up issues 1,000 shares of 6%, S100 par value preferred stock at the beginning of 2017. All remaining shares are common stock. The company was not able to pay dividends in 2017, but plans to pay dividends of $18,000 itn 2018. Assuming the preferred stock is Cumulative, how much of the $18,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2018? $6,000 to preferred stockholders and S12,000 to common stockholders. $18,000 to preferred stockholders and S0 to common stockholders $12,000 to preferred stockholders and S6,000 to common stockholders. $9,000 to preferred stockholders and S9,000 to common stockholders A. B. C. D. Q3. The issuer of a 5% common stock dividend to common stockholders should credit common stock for an amount equal to the A. Book value of the shares issued. B. Par or stated value of the shares issued. C. Market value of the shares issued D. Minimum legal requirements Q4. On February 22, Brett Corporation acquired 200 shares of its $5 par value common stock for S25 each. On March 15, the company reissued 70 shares for S30 each. What is true of the entry for reissuing the shares? A. Credit Cash S1,750 B. Credit Additional Paid in Capital $350 C. Debit Treasury Stock S1,7510 D. Credit Treasury Stock $2,100