Question 24 (1 point) When a company declares a cash dividend cash dividends payable is decreased retained earnings is increased cash is decreased retained earnings is reduced Question 25 (1 point) A company issues no par stock for $135 per share. What effect will this transaction have on the accounting records? Assets and stockholders' equity will increase Cash will increase, but since this is no par stock, paid-in capital in excess of par will decrease. Assets and Retained Earnings will increase. O A "stated value" must be determined before this transaction can be recorded in Question 26 (1 point) The maximum number of shares that our company can issue is called outstanding shares par value shares treasury stock authorized shares Question 27 (1 point) A machine was purchase on January 1, Year 1, for $150,000. The expected useful life is 20 years, and the salvage value is $10,000. If the company uses double declining balance, how much depreciation expense will it record for Year 1? $7,000 O $16,000 $14,000 $15,000