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When Bunyan Corporation was formed on January 1, the corporate charter provided for 83,500 shares of $5 par value common stock. The following transaction was
When Bunyan Corporation was formed on January 1, the corporate charter provided for 83,500 shares of $5 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 7,080 shares of stock at a price of $20 per share. Which of the following would be included when recording the transaction? Select the correct answer. O debit to Common Stock for $83,500 O credit to Paid-in Capital in Excess of Par for $106,200 O credit to Common Stock for $141,600 O debit to Cash for $35,400 The charter of a corporation provides for the issuance of 89,270 shares of common stock. Assume that 41,661 shares were originally issued and 3,382 were subsequently reacquired. What is the amount of cash dividends to be paid if a $1 per share dividend is declared? Select the correct answer. O$89,270 O $38,279 O$41,661 O$3,382 The charter of a corporation provides for the issuance of 106,379 shares of common stock. Assume that 37,023 shares were originally issued and 3,794 were subsequently reacquired. What is the amount of cash dividends to be paid if a $3 per share dividend is declared? Select the correct answer. O $11,382 O$99,687 O $111,069 O$319,137
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