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Question 6 3.33 pts XYZ Corporation reissued 1,000 shares of treasury stock, originally purchased for $10 a share, for $8 per share. It had not previously reissued any treasury stock. The journal entry to record this transaction includes O a debit to PIC, treasury stock for $2,000 O a credit to PIC, treasury stock for $2.000 a debit to treasury stock for $8.000, O a debit to retained carnings for $2.000 3.33 pts >> Question 7 3.33 pts REF Corporation declared a $0.50 per share cash dividend on 100,000 shares of preferred stock outstanding. The journal entry to record this transaction includes a debit to retained earnings for $50,000 two of the answers the answers are correct a credit to cash for $50.000 O a credit to retained earnings for $50,000 Question 8 3.33 pts SETA Company declared and distributed a 100% stock dividend (dividend paid in stock, not cash) on 800,000 share of $4 par value common stock outstanding. Market price per share on this date was $25. The journal entry to record this transaction includes O a debit to retained earnings for $20,000,000 O a credit to dividends payable for $20,000,000 a credit to common stock for $3,200,000 0 Two of the answers are correct. Question 9 3.33 pts New West issued $5,000,000 par value. 12%, 5 year bonds on January 1, 2020. Interest is to be paid semiannually on June 30 and December 31. The bonds were sold for $4,648,580 when the market rate was 14%. The company uses the effective interest method for amortization. The entry to record the bonds on January 1, 2020 includes O a debit to bond discount for $351,420 O a credit to bond premium for $351,420. O a credit to bond discount for $351,420 O a debit to bond premium for $351.420 Question 10 3.33 pts New West issued $5,000,000 par value, 12%, 5 year bonds on January 1, 2020. Interest is to be paid semiannually on June 30 and December 31. The bonds were sold for $4,648,580 when the market rate was 11%. The company uses the effective interest method for amortization. What is the following is true on June 30, 2020? Interest Expense is debited for $300,000 Interest Expense is debited for $325,400. O Bond Payable is credited for $300,000 Bond Payable is credited for $325,400 Question 11 3.33 pts New West issued $5,000,000 par value, 12%, 5 year bonds on January 1, 2020. Interest is to be paid semiannually on June 30 a December 31. The bonds were sold for $4,648,580 when the market rate was 14%. The company uses the effective interest method for amortization. Which of the following is true on June 30, 2020? O Premium is credited for $25,420 O Discount is debited for $25,400 0 Two of the answers are correct. Cash is credited for $300.000