11.

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? (2 pts)

A.	Credit Common Stock $300,000.

B.	Credit Cash $300,000.

C.	Credit Common Stock $15,000.

D.	Debit Additional Paid-In Capital $285,000.

12. Preferred stock is called preferred because it usually has two preferences over common stock. These preferences relate to: (2 pts)

A.	Dividends and voting rights.

B.	Par value and dividends.

C.	The preemptive right and voting rights.

D.	Dividends and distribution of assets if the corporation is dissolved.

13. Treasury Stock is normally reported as: (1 pt)

A.	A reduction of total stockholders' equity.

B.	An asset account.

C.	A liability account.

D.	An expense account.