30. a b C. d. a C. (2 points) Which characteristic of a corporation is a disadvantage? Limited liability Double taxation Indefinite life None of these are disadvantages 31 (2 points) Eland Company issued 350,000 shares of $0.06 par common stock at $3 per share. What should Eland's JE be to record this issuance of stock? Debit Common Stock - $0.06 par value $1,050,000, credit Cash $1,050,000 b. Debit Common Stock - $0.06 par value, credit Cash $21,000, credit Paid- in Capital in Excess of Par (PIC) $1,029,000 Debit Cash $1,050,000, credit Common Stock - $0.06 par value $21,000, credit PIC $1,029,000 d. Debit Cash $1,050,000, credit Common Stock - $0.06 par value $1,050,000 32 (2 points) Yasoff, Inc. issues common stock in exchange for a building. How should Yasoff record the building on the books and records? a Book value b. Market value (fair value) c. Par value of the stock given up d. The value determined by the Board of Directors of Yasoff 33. (2 points) Bralison Corporation has 10,000 shares of 6%, $15 par cumulative preferred stock and 51,000 shares of common stock outstanding. Bralison declared no dividends in 2020 and had no dividends in arrears prior to 2020. In 2021, Bralison declares a total dividend of $48.000. How much of the dividend goes to the common shareholders? a. $30,000 b. $39,000 C. $48,000 d. None - all goes to the preferred shareholders 34. (2 points) A company's own stock that it has issued and repurchased is called outstanding stock. b. treasury stock dividend stock. d. issued stock. O DO - a UGOD