11. The par value of a company's common stock is $ 10. Suppose all the outstanding shares were sold at a price of $ 30. The company bought 1,000 of his shares paying $ 24 for each and decided to withdraw them immediately, so he did not use the "Treasury stock" account. The wage entry to account for this transaction will have a credit to: a. "Paid-in capital from retirement of common stock" b. Retained earnings c. "Gain on retirement of common stock" d. None of the above 12. A company has convertible bonds payable. Its book value (net of premium or discount and issuance costs) is $ 250,000. Its market value is $ 275,000. The bonds were converted into 100,000 common shares, each with an par value of $ 2. In the journal entry to record the conversion of the bonds, using the book value method, the Additional paid-in capital account will be credited for: a. $ 50,000 b. $ 75,000 c. $ 25,000 d. $o 13. When preferred shares are cumulative and no dividends have been declared during a particular year, the amount of dividends accrued by those shares: a. It must be presented as a debt in the balance sheet (preferred dividend payable) b. It must be presented in the equity section of the statement of situation (preferred dividend to be distributed) c. It must be disclosed in the notes, without acknowledgment in the body of the situation statement d. As these are preferred shares, they are presented as an expense in the statement of income and expenses