Question 23 A On January 1, 2013, Mehrzad Co. Issued 10,000 shares of $1 par stock for total proceeds of $50,000. On October 31, 2013 Mehrzad recorded a stock dividend of 8% when the market price of the stock was $12/share. The consequence of this transaction would be: Reduce Retained earnings by $6.400 and increase common stock at Par by $5,000 Increase shares outstanding by $9,600 O Reduce retained earnings by $9,600 and increase Paid-in-Capital in excess of par by $8,800 No effect on the account common stock No effect on the account additional paid-in capital D Question 24 1 pts 1 pts On January 1, 2013, Mehrzad Co. Issued 10,000 shares of $1 par stock for total proceeds of $50,000. On October 31, 2013 Mehrzad recorded a stock dividend of 8% when the market price of the stock was $8/share. On December 1, 2013, Mehrzad bought 4,000 shares at a price of $7/share. The consequence of this transaction would result in: O None of the other answers given O Reduce Additional Paid-in Capital by $28,000 O Decrease Shares Outstanding to O Decrease shares outstanding to 6,500 shares O Increase cash by $28,000