True or False:

#6) A discount on bonds payable occurs when bonds have a contract rate greater than the market rate at issuance.

10) When a company declares a cash dividend, retained earnings is reduced. I believe this one is false but I just want to confirm.

13) If a company has a beginning balance of retained earnings of $50,000, net income for the year of $35,000 and dividends declared of $10,000, the ending retained earnings should be $75,000.

15) To be classified as a cash equivalent, an investment must have a maturity of 18 months.