24. Five years ago Ortis Company issued $300,000 of bonds at face value. The company at a price of 103. The journal entry to record this retirement will includea A. credit to Gain on Bond Retirement for $9,000. B. debit to Loss on Bond Retirement for $9,000 retires the bonds now credit to Cash for $300,000. D. debit to Bonds Payable for $291,00o. E. credit to Bonds Payable for $300,000. 25The number of shares of stock owned by sockholders is referred to as the: A. authorized shares. B. issued shares. C. outstanding shares D. treasury shares 26. Hough Company issued 2,000 shares of its $5 par value common stock for $15 per share. The jourmal entry to record this stock issuance include a: A. credit to Common Stock for $10,000. B. debit to Additional Paid-in Capital for $20,000 C. credit to Common Stock for $30,000. D. debit to Cash for $10,000. E. credit to Additional Paid-in Capital for $10,000. 27. Par value of a stock refers to the: A. amount assigned to a share of stock in the corporate charter . B. issue price of the stock. C. market value of the stock. D. maximum selling price of the stock. 28. On March 4h, Axel Company declared an $0.80 per share cash dividend. The dividend will be paid on March 30h Axel has 100,000 shares authorized, 45,000 shares issued, and 3,000 shares of treasury stock. The journal entry to record the dividend declaration on March 4th will include a: A. debit to Dividends for $36,000. B. credit to Cash for $33,600. C. debit to Retained Earnings for $36,000 D. debit to Dividends for $33,600. E. credit to Dividends for $33,600. 29. Treasury stock is a(n): A. asset account B. contra-asset account. C. liability account. D. stockholders' equity account. E contra-equity account