Retake Done 21 Inc., has 2,500 shares of 5% $100 par value cumulative preferred stock and 20.000 Shares of $1 par value common stock outstanding from December 31, 2018 through Dec 31, 2020. There were no dividends declared in 2018 The board of directors declares and pays a $22,500 dividend in 2010 and in 2020. What is the amount of dividends received by the common stockholders in 2020? a $7,500 b. $12,500 c. $22.500 d. $0 22. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is a. Common Stock Dividends Distributable b. Common Stock C Paid-in Capital in Excess of Par. d. Stock Dividends. 23. On January 1, Layline Corporation had 160,000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The entry to record the transaction of June 17 would include a a. debit to Stock Dividends for $360,000. b. credit to Cash for $360,000. C. credit to Common Stock Dividends Distributable for $360,000. d. credit to Common Stock Dividends Distributable for $120,000