$1.$A share dividend $(1$ Point$)$Is a distribution of additional shares to its shareholders without receiving any payment.Transfers a portion of equity from retained earnings to contributed capital.Is often referred to as a stock dividend.Does not reduce a corporation's assets and equity.All of the above. $2.$There is no journal entry required for share split. $(1$ Point$)$TrueFalse $3.$Best Garbage Inc. originally issued its shares at an average price of $$12.$ On January $1,$ the company purchased and retired $2,000$ of its shares at the same price for which they were issued. What should be the entry on January $1?(1$ Point$)$Dr Cash $$24,000$ Cr Common Shares $$24,000$ Dr Common Shares $$24,000$ Cr Cash $$24,000$ Dr Common Shares Redemption $$24,000$ Cr Cash $$24,000$Dr Cash $$24,000$ Cr Common Shares Redemption $$24,0004.$Following Question $7,$ on February $12,$ Best Garbage Inc. retires another $6,500$ common shares, paying $$14,$ What should be the entry related to the retained earnings? $(1\mathrm{.}5$ Points$)$Cr Retained Earnings $$1,000$ None of the above. Dr Retained Earnings $$1,000$Cr Retained Earnings $$13,000$ Dr Retained Earnings $$13,0005.$Corporations may repurchase shares of its own outstanding share capital in order to avoid a hostile takeover by an investor.$(1$ Point$)$TrueFalse$6.$Retained earnings $(1$ Point$)$Are the cumulative net profits or losses minus dividends paid since the date of incorporation.Are part of the income statement.Represent an amount of cash available to pay shareholders.Are the cumulative net profits or losses minus dividends paid since the date of incorporation and are part of shareholders' equity.All of the above. $7.$Restrictions on retained earnings can be $(1$ Point$)$Limits that identify how much of the retained earnings balance is not available for dividends or the repurchase of shares.Statutory limits set by government.Due to loan agreements.Set by a corporation's directors in order to limit dividends and maintain cash.All of the above. $8.$Companies use share dividends to$(1$ Point$)$keep the market price of the shares affordableincrease the market value of sharesincrease contributed capital raise capital for the company for future expansionAll of the above are valid reasons. $9.$The directors of Telsa declare a $10\%$ share dividend on December $31,2023.$ The company currently has $40,000$ shares outstanding, and the market price of the shares is $$15$ per share. The dividend is to be distributed on January $10$ to the shareholders of record on January $8.$ The format of your answer should be like this: $x$,$xxx$,$xxx$.(1$ Point$)10.$Bath and Body Works Inc. had $840,000$ common shares outstanding on January $1$st $.$ It issued $420,000$ shares on March $1$st$,$ retired $180,000$ shares on November $1$st and there was a $2\mathrm{.}5$ :$1$ share split on December $1$st$.$ What should be the weighted average number of shares on December $31?$ The format of your answer should be like this xxx$,$xxx$.(2$ Points$)$