2. Oceanview Wholesale Merchandise had 20,000 shares of 6%, $20 par value preferred stock and 15,000 shares of $25 par value common stock outstanding throughout 2014. Assuming that total dividends declared in 2014 were $25,000 and that the preferred stock is not cumulative, common stockholders should receive total 2014 dividends of: 13. Hallery Corporation issued 600 shares of 10% $15 par convertible preferred stock for $12,000. The entry to record the declaration of the annual cash dividend is: Question 13 options: debit Cash Dividends $1,200 and credit Dividends Payable $1,200. debit Cash Dividends $900 and credit Dividends Payable $900. debit Cash Dividends $1,200 and credit Cash $1,200. debit Cash Dividends $900 and credit Cash $900. 15. The resale of treasury stock for an amount greater than its cost: Question 15 options: increases net income. decreases total assets and increases total stockholders\' equity. increases total assets and decreases total stockholders\' equity. increases total assets and increases total stockholders\' equity. Solution Ans .