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Question 3 1 Goofy Corporation issues 1,000 shares of its $5 par value stock when...

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Question 3 1 Goofy Corporation issues 1,000 shares of its $5 par value stock when the market price is $6 pe share. The journal entry to record this issuance would include: Credit to APIC-Common stock for $1,000 Debit to Cash for $5,000 Debit to APIC, Common stock for $1,000 Credit to Common Stock for $6,000 Question 4 1 pt StarTrek Company has 1,000,000 shares authorized: 400,000 shares issued and outstanding of its $2 par value common stock. On March 1st, the board of directors declares a 10% stock dividend to be distributed March 15th. On this date, the market price is $18. Which of the following statements is true regarding the declaration on March 1st Retained earnings will be debited for $720,000 Common stock dividend distributable will be credited for $720,000 O O O The number of new shares to be issued will be 100.000 Retained Earnings will be debited for $80.000

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