Question 3 (1 point) For the first time since its inception, a company purchased 5,000 shares of its own $10 par Common Stock for $20 per share. It later reissued 2,000 of these shares for $21 per share. A few days after this reissue, they reissued an additional 1,500 shares for $17 per share. The journal entry to record the reissue of the 1,500 shares will include a: a credit to Common Stock for $1,500 a credit to Common Stock for $25,500 debit to Retained Earnings for $2,500 a credit to Treasury Stock for $25,500 Question 5 (1 point) A company's stockholder's equity consists of $10 par Common Stock, 40,000 shares authorized, 24,000 shares issued and 2,400 shares held in Treasury. The company has a 3 for 1 stock split at a time when the market price of the share of stock is $24. The journal entry prepared to record the stock split will include a: credit to Common Stock for $172,800 No journal entry needed. credit to Common Stock for $648,000 debit to Retained Earnings for $648,000 debit to Retained Earnings for $216,000 Question 7 (1 point) A company's stockholder's equity consists of $10 par Common Stock, 48,000 shares authorized, 26,000 shares issued and 2,400 shares held in Treasury. The company declares a cash dividend of $0.15. Determine the amount debited to retained Earnings as a result of the Cash Dividend. $3,540 $4,260 $6,840 $3,900 $7,200 Question 9 (1 point) A company's stockholder's equity consists of $10 par Common Stock, 40,000 shares authorized, 24,000 shares issued and 2,400 shares held in Treasury. The company declares a 35% stock dividend at a time when the market price of the share of stock is $24. As a result of the stock dividend Retained Earnings decreases by: $181,440 $92,400 $75,600 $84,000