18-ABC Corporation issues 1,000 shares of $10 par value common stock at $12 per share. In recording the transaction, credits are made to: (a) Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $2,000. (b) Common Stock $12,000. (c) Common Stock $10,000 and Paid-in Capital in Excess of Par $2,000. (d) Common Stock $10,000 and Retained Earnings $2,000. 19-XYZ, Inc, sells 100 shares of $5 par value treasury stock at $13 per share. If the cost of acquiring the shares was $10 per share, the entry for the sale should include credits to: (a) Treasury Stock $1,000 and Paid-in Capital from Treasury Stock $300. (b) Treasury Stock $500 and Paid-in Capital from Treasury Stock $800. (c) Treasury Stock $1,000 and Retained Earnings $300. (d) Treasury Stock $500 and Paid-in Capital in Excess of Par $800. 20-Preferred stock may have priority over common stock except in: (a) dividends. (b) assets in the event of liquidation. (c) cumulative dividend features. (d) voting. 21-Entries for cash dividends are required on the: (a) declaration date and the payment date. (b) record date and the payment date. (c) declaration date, record date, and payment date. (d) declaration date and the record date. 22-On January 1, 2015, Carter Corporation issued $5,000,000, 10-year, 8% bonds at 102. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2015 is: a. Cash ......... ........ 5,000,000 Bonds Payable... 5,000,000 5,100,000 b. Cash .... Bonds Payable............ 5,100,000 23-If the market interest rate is 10%, a $10,000, 12%, 10-year bond that pays interest semiannually would sell at an amount a. less than face value. b. equal to face value. c. greater than face value. d. that cannot be determined. . . 24-Four thousand (4,000) bonds with a face value of $1,000 each, are sold at 105. The entry to record the issuance is a. Cash ...... 4,200,000 Bonds Payable. 4,200,000 b. Cash Premium on Bonds Payable .... 4,000,000 200,000 Bonds Payable ......... 4,200,000 C. Cash .......... .......... 4,200,000 Premium on Bonds Payable 200,000 Bonds Payable ........... 4,000,000 d. Cash 4,200,000 Discount on Bonds Payable ...... 200,000 Bonds Payable 4,000,000