QUESTION 27 On January 1, 2015, Kylie's Plumbing, Inc declared a $2.00 per share dividend payable on February 1, to holders of record on January 15. Before the dividend was declared, the company had 100,000 shares On the date of payment, the journal entry would include a A. There would be no journal entry on this date. B. None of these is correct. C. credit to Common Stock of $200,000. D. credit to Dividends Payable of $200,000 E. debit to Dividends Payable of $200,000. QUESTION 28 Baker Company bought a new pickup for $50,000 to use in their business. They estimate the truck will be useful for 5 years and then will be worth $5,000. If Baker uses the straight-line method of depreciation, how much would depreciation expense be for the fourth year? A $7,000 B. $ 6,000 C. $ 9,000 D. $ 18,000 E. $ 10,000 QUESTION 30 At December 31, 2015, Johnson Co. stock price was $ 30 per share. If the EPS was $5. The Current (Earnings) Yield was approximately O A. 6.00% B. 15.48% C. None of these D. 10.90% E. 16.67% QUESTION 31 Melton Co. issues 5,000 shares of $1 par value stock for $100,000. The credit to "common stock" would be A. $ 95,000 B. None of these C. $ 105,000 D. $ 98,000 E. $ 5,000