Sandhill Inc. issued 7800 shares of no-par common stock with a stated value of $6 per share. The market price of the stock on the date of issuance was $15 per share. The entry to record this transaction includes a credit to Common Stock for $117000. debit to Cash for $46800. debit to Paid-in Capital in Excess of Par for $117000. credit to Common Stock for $46800. Marigold Corporation began business by issuing 406000 shares of $5 par value common stock for $22 per share. During its first year, the corporation sustained a net loss of $39900. The year-end balance sheet would show Total paid-in capital of $2069900. Common stock of $8932000. Common stock of $2030000. Total paid-in capital of $8892100. Swifty Corporation began business by issuing 691400 shares of $5 par value common stock for $20 per share. During its first year, the corporation sustained a net loss of $62100. The year-end balance sheet would show Total paid-in capital of $13765900. Total paid-in capital of $10371000. Common stock of $13828000. Common stock of $3457000. Outstanding stock of the Oriole Corporation included 44800 shares of $5 par common stock and 9600 shares of 5%,$10 par noncumulative preferred stock. In 2019, Oriole declared and paid dividends of $4100. In 2020, Oriole declared and paid dividends of $12500. How much of the 2020 dividend was distributed to preferred shareholders? $5760$7700$4800 None of these answer choices are correct A stockholder who receives a stock dividend would own more shares of stock. expect the market price per share to increase. expect retained earnings to increase. expect the par value of the stock to change. On December 31,2020 , Sunland, Inc. has 3500 shares of 4%$100 par value cumulative preferred stock and 60200 shares of $10 par value common stock outstanding. On December 31, 2020, the directors declare a $19900 cash dividend. The entry to record the declaration of the dividend would include: a credit of $19900 to Dividends Payable. a note in the financial statements that dividends of \$2 per share are in arrears on preferred stock for 2020. a credit of $19900 to Cash Dividends. a debit of $19900 to Common Stock. The purchase of treasury stock has no effect on common stock outstanding. decreases common stock outstanding. decreases common stock issued. decreases common stock authorized. When preferred stock is cumulative, preferred dividends not declared in a period are called dividends in arrears. never paid. considered a liability. distributions of earnings. If a corporation declares a 10% stock dividend on its common stock, the account to be debited on the date of declaration is Paid-in Capital in Excess of Par. Stock Dividends. Common Stock Dividends Distributable. Common Stock