The number of shares that a corporation's charter allows it to sell is referred to as: Multiple Choice Authorized stock, Outstanding stock Issued stock. Common stock Preferred stock. 29 Torino Company has 2.100 shares of $10 par value, 6.5% cumulative and nonparticipating preferred stock and 21000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $1,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: Multiple Choice $1000. A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: 3. Multiple Choice Adebit to Cash for $110.000 A credit to Paid in Capital in Excess of Par Value, Common Stock for $264,000 A credit to Common Stock for $154.000 A credit to Common Stock for $110,000 A debito din Capital in Excess of Pur Value, Common Stock for $154.000