Question 67 (15 points) Tum-Tum Corp has 215.000 shares of common stock outstanding. The par value is $0.001 and the market value is $73.15 per share. On 24 January the Board of Directors declares a 15% stock dividend to be distribute on 11 February. The distribution would be recorded as a) Debit Retained Earnings 2,359,087.50 and Credit Common Stock 2,359,087.50 b) Debit Common Dividend Distributable 2.359,087.50 and Credit Common Stock 2,359,087.50 c) Debit Retained Earnings 32.25 and Credit Common Stock 32.25 d) Debit Common Dividend Distributable 32.25 and Credit Common Stock 32.25 Question 68 (10 points) During times of decreasing prices. FIFO is correlated with higher cost of goods sold than LIFO a) True b) False Question 69 (10 points) If a five-year bond is trading at a premium, then the carrying value of the bond at the maturity date will be greater than the par value, a) True b) False