re orbreterred stock often do ownership rigtts to nmentsofthe corporan voting riahts the naht to el theit G. Preferred stock that been passed beto provides for t dviden t he pwyment of pretetred smay be paid on common stock cumulative stnted value participnting When Trensury Stock is ro-Issued,the Treasury Stock account in nmou s ant equal to it par value credited tor an C. d. cout stated value original common stock issue price 8. On January 1 of the current year, NSC Corp had $850,000 in its Rotained Earnings account. During the year, dividends of $200,000 were declared. in addition, the company had a net loss of $50,000 for the current yoar. What is the balance in the Retained Earning account as of r 31? b. C. d. $1,100,000 $800,000 $600,000 $500,000 When the contract rate of interest on bonds is higher than the market rate of interest, the bonds sell at 9. b. c. d. a premium their face value their maturity value a discount In a c rporation, the Income Summary account is closed into the a. Cash b. Paid-in Capital c. Retained Earnings d. Stockholder's Equity ac 10. A liability for dividends exists a. b. when cumulative preferred stock is sold on the date of declaration on the date of record 11. d. when dividends in arrears accrue on cumulative preferred