If cash dividends are distributed on a date after dividends have been declared, then overall total liabilities will decrease and total assets will decrease. True - 1 False Question 10 (4 points) Treasury stock is shown as a reduction to total stockholders' equity and is reported on the Statement of Stockholders' Equity. 12 True 15 False 18 Question 11 (4 points) A 9 month note payable is a current liability but a 2 year note payable is a noncurrent liability True False 2 6 Question 124 points When preferred stock is sold the company will see an increase in retained earnings 10 11 12 True False 13 14 21 16 17 16 Question 13 14 points Credits increase retained earnings and common stock True 19 20 21 22 BI 34 Question 144 points Bond Payable would be classified as a lability account and reported on the balance sheet 20 O True False 30 Question 15 i4 points Premium on Bond Payable is a contra lability reported on the balance sheet