Indicate true or false by inserting T or F into the appropriate space

11. On a bank statement, a credit will result in a reduction of the account owner's bank balance. 12. Par value is a measure of the approximate market value of a corporation's stock. 13. When a corporation buys back some of its own issued and outstanding stock, the repurchased stock is called non-dividend stock. 14. Cumulative dividends that have not been paid are called dividends in arrears. 15. The general ledger Withheld Income Taxes Payable account is an example of a liability account 16. When an owner withdraws assets of a business for his/her personal use, the act decreases both business asset and total equity amounts. 17. Accounting information provided by financial accounting is usually less detailed in nature than is that provided by managerial accounting. 18. A $10,000 bond issued at "107" will result in a "premium" of $700. 19. The general ledger Discount on Bonds Payable account is a contra asset account 20. When using the allowance method to record bad debts, a company will debit Bad Debts Expense when writing off an account receivable