Question 1 A company whose shares of stock are available to sale to outside parties is known as a: non-profit organization government agency publicly held company privately held company Question 2 Rights of preferred shareholders include all of the following except: the right to liquidated assets in case of bankruptcy the right to vote the right to receive a fixed, or stated, amount of dividends if any are declared the right to receive dividends if declared Goofy Corporation issues 1,000 shares of its $5 par value stock when the market price is $6 per share. The journal entry to record this issuance would include: Credit to Common Stock for $6,000 Credit to APIC, Common stock for $1,000 Debit to Cash for $5,000 Debit to APIC, Common stock for $1,000 Star Trek Company has 1,000,000 shares authorized; 400,000 shares issued and outstanding of its $2 par value common stock. On March 15, the board of directors declares a 10% stock dividend to be distributed March 15th. On this date, the market price is $18. Which of the following statements is true regarding the declaration on March 1st. Common stock dividend distributable will be credited for $720,000 No journal entry will be required Retained earnings will be debited for $720,000 The number of new shares to be issued will be 100.000