d. May decrease but not increase net income. 31. 8) Houser Corporation owns 4,000,000 shares of stock in Baha Corporation. On December 2014, Houser distributed these shares of stock as a dividend to its stockholders. This is an example of a a. property dividend. b. stock dividend. c. liquidating dividend. d. cash dividend. 9) Long Co. issued 100,000 shares of $10 par common stock for $1.200,000. A year later Long acquired 12,000 shares of its own common stock at $15 per share. Three months later Long sold 6,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 6,000 treasury shares, Long should credit a. Treasury Stock for $114,000. b. Treasury Stock for $60,000 and Paid-in Capital from Treasury Stock for $54,000. c. Treasury Stock for $90,000 and Paid-in Capital from Treasury Stock for $24,000. d Treasury Stock for $90,000 and Paid-in Capital in Excess of Par for $24,000. 10) Percy Corporation was organized on January 1, 2014, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2014, the corporation had the following capital transactions: January 5 issued 450,000 shares @ $10 per share December 31 sold the 60,000 shares held in treasury @ $18 per share What is the total amount of additional paid-in capital as of December 31, 2014? July 28 purchased 60,000 shares @ $11 per share to record the purchase and reissuance of the treasury shares b. $1,380,000. c. $1,800,000. d. $2,220,000