Question 9 palva Corporation splits its common stock 2 for 1, when the market value is $80 per share. Prior to the split, Paiva had 100,000 shares of $10 par valve common stock issued and outstanding. After the split, the par value of the stock is reduced to $5 per share remains the same. is reduced to $2 per share is reduced to $20 per share. CES Question 10 A corporation differs from a proprietorship and a partnership in that O the historical cost principle only applies to proprietorships and partnerships. the owners of the corporation do not have a claim on the net assets of the business. O assets and liabilities are presented differently on the balance sheet. O a corporation is considered a separate legal entity for taxation purposes. Question 11 Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was s-for-1 O 3-for-1. 2-for-5. O 1-for-s. RCES Question 12 Waterway Inc. has 5500 shares of 6%, $100 par value, cumulative preferred stock and 50200 shares of $1 par value common stock outstanding at December 31, 2017. What is the annual dividend on the preferred stock? $0.66 per share $50200 in total O $33000 in total O$55 per share s Question 13 Langdon Company issued 5,000 shares of its $4 par value common stock in payment of its attorney's bill of $28,000. The bal was for services performed for the company to help it incorporate. Langdon Company should record this transaction by debiting organization Expense for $20,000 O organization Expense for $28,000 legal Expense for $20,000. legal Expense for $28,000