payment date QUESTION 23 4 points s A stock split decreases par value per share, whereas stock dividends do not affect par value per share. O True False QUESTION 24 4 points On December 1, 2015, Arthur Inc. had 30,000 shares of $5 par value common stock issued and outstanding. The next day they declared a 50% stock dividend. The market value of the stock on that date was $9 per share. Which of the following is the correct journal entry to record this transaction? O debit Retained Earnings $270,000 and credit Cash $270,000 O debit Retained Earnings $270,000, credit Common Stock $150,000, and credit Paid-In Capital in Excess of Par $120,000 O debit Common Stock $75,000 and credit Cash $75000 debit Retained Earnings $75,000 and credit Common Stock Dividend Distributable $75,000 QUESTION 25 4 points When a company sells stock for less than the par value, it will record a gain on sale for the amount in excess of par. O True O False Click Save and Submit to save and submit. Click Saue All Answers to save all answers. Save All Answers Save