QUESTION 17

a. Entity J had the following accounts: Common stock, $2 par, 10,000 shares authorized, 500 shares issued, ?? shares outstanding $ 1,000 Paid-in-capital in excess of par 16,500 Treasury stock (20 shares at cost) 1,200 Retained earnings 75,000 What is number of common shares outstanding?

		9,500
		480
		500
		10,000

b.

When a company pays (think of the journal entry) a previously declared dividend:

		Stockholders' equity decreases.
		Liabilities decrease.
		Assets decrease.
		Liabilities decrease and assets decrease.