21. On January 1, $2,000,000, 5-year, 10% bonds, were issued for $1,960,000. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the semiannual amortization amount is $8,000 $2,000 $4,000 $10,000 b. C. d. 22. Which account is not included on stockholders' equity section Dividends in Arrears a. b. Common Stock Paid-In Capital in Excess of Par Retained Earnings C. d. 23. The proceeds received from the issuing bond depends on which of the following? coupon rate of interest market rate of interest a. b. C. principal all of the above d. none of the above . 24. The balance in Discount on Bonds Payable that is applicable to bonds due in three years would be reported on the balance sheet in the section entitled a. investments b. long-term liabilities current assets C. d. intangible assets 25. Who has the authority to declare a cash dividend Chief Operating Officer Chief Financial Officer a. b. Chief Executive Officer C. d. Board of Directors 26. Which accounts will be credited to record the issuance of preferred stock at a price above par Cash and Common Stock Preferred Stock and Paid in Capital Excess Additional paid in capital and gain a. b. C. d. None of the Above 27. The maximum number of shares of common stock that may be issued according to the corporation's charter is referred to as the authorized shares. issued shares. unissued shares a. b. C. d. outstanding shares