The par value of shares issued is normally recorded in the: 11 Multiple Choice (8 00:00 Additional Paid-in Capital account C) Common Stock account Retained Earnings account Treasury Stock account Jade Jewelers issued 15.000 shares of $1 par value stock for $20 per share. What is true about the journal entry to record the issuance? Multiple Choice Credit Common Stock $300,000 O Credit Cash $300.000 O O Credit Common Stock $15.000 O C Debit Additional Paid in Capital $285.000 O South Beach Apparel issued 10,000 shares of $1 par value stock for $5 per share. What is true about the journal entry to record the issuance? 13 Multiple Choice (8 040802 O Debit Common Stock $10.000 O Credit Cash $50,000 O Credit Common Stock $50.000 O Credit Additional Paid in Capital $40,000 Preferred stock is called preferred because it usually has two preferences over common stock. These preferences relate to 14 Multiple Choice (800 O Payment of dividends and tights Higher per value and payment of evidence Distribution O Distribution of assets if corporation is dissolved and payment of dividends. The Surf's Up issues shares of 6% $100 par value preferred stock at the beginning of 2020. All remaining shares are common stock. The company was not able to pay dividends in 2020, but plans to pay dividends of $18,000 in 2021 Assuming the preferred stock is cumulative how much of the $18.000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021? Multiple Choice 0 6.000 to preferred stockholders and $12,000 to common stockholders O O $18,000 to preferred stockholders and $0 10 common stockholders O $12000 to preferred stockholders and $6.000 to common stockholders O O 59000 to predstochodes and 9 000 10 C on stockholde Treasury Stock is normally reported as Multiple Choice 0 A reduction of total stockholders equity O O An asset account O O Aliability account O O An expense account Which of the following is TRUE regarding the accounting for treasury stock? 17 Multiple Choice (3017229) Treasury stock is reported on the balance sheet in the equity section The purchase and sale of treasury stock has no impact on the income statement Treasury stock represents a negative equity account All of the other answer choices are correct Retained Earnings represent a company's: Multiple Choice (8 01:12:36 0 O Net income less dividends since the company first began operations. 0 C) Undistributed net assets 0 Extra paid in capital 0 Undistributed cash Journal entries to record cash dividends are made on the: 19 Multiple Choice ( 8 01:12:34 Declaration date, record date, and payment date. Record date and payment date. Declaration date and payment date. Declaration date and record date. Journal entries to record cash dividends are made on the: 19 Multiple Choice ( 8 01:12:34 Declaration date, record date, and payment date. Record date and payment date. Declaration date and payment date. Declaration date and record date