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Question 35 2 pts A $300,000 bond was redeemed at 98 when the carrying amount of the bond was $292,000. The entry to record the redemption would include a loss on bond redemption of $4,000 O gain on bond redemption of $4,000 O gain on bond redemption of $2,000 loss on bond redemption of $2,000 Question 36 2 pts The state charter allows a corporation to issue only a certain number of shares of each class of stock. This amount of stock is called treasury stock issued stock outstanding stock authorized stock Question 37 2 pts Which of the following is not a right possessed by common stockholders of a corporation? the right to vote in the election of the board of directors the right to receive a minimum amount of dividends the right to sell their stock to anyone they choose the right to share in assets upon liquidation Question 38 2 pts The entry to record the issuance of common stock at a price above par includes a debit to Organizational Expenses Common Stock Cash Paid-In Capital in Excess of Par-Common Stock Question 39 2 pts Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1: $10,000 Year 2: 45,000 Year 3: 90,000 Determine the dividends per share for preferred and common stock for the first year. $0.50 and $0.10 $0.00 and $0.10 $0.50 and $0.00 O $2.00 and $0.00 Question 40 2 pts The liability for a dividend is recorded on which of the following dates? the date of record the date of payment the last day of the fiscal year the date of declaration Question 41 2 pts A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? $3,200 O $6,400 O $4,800 O $8,800

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