The declaration of a dividend _______.

a. increases total liabilities

b. reduces total assets

c. increases total assets

d. increases total stockholders' equity

The entry to record the issuance of 55,000 shares of no-par common stock at $13.50 per share includes a _______.

a. credit to paid-in capital in excess of no-par value-common for $742,500

b. credit to common stock for $742,500

c. credit to cash for $742,500

d. debit to paid-in capital in excess of no-par value-common for $742,500