JPIndustries Purchased 2,000 Shares of Yang's Common Stock for $143,000

question 147

Multiple Choice

J.P.Industries purchased 2,000 shares of Yang's common stock for $143,000 as a long-term investment.The investment is classified as available-for-sale securities.The par value of the stock was $1 per share.J.P.paid $375 in commissions on the transaction.J.P.'s entry to record the purchase transaction would include a:

• A)Credit to Common Stock for $2,000.
• B)Credit to Common Stock for $143,000.
• C)Credit to Common Stock for $143,375.
• D)Debit to Long-Term Investments-AFS for $143,000.
• E)Debit to Long-Term Investments-AFS for $143,375.

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Definitions:

Disparate Treatment

Refers to unequal behavior towards an individual or group based on protected characteristics such as race, age, or gender, violating anti-discrimination laws.

Title VII

A section of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin.

Basis of Race

A consideration or judgement made regarding individuals or groups specifically related to their racial background.

Punitive Damages

Monetary compensation awarded in court cases that goes beyond what the plaintiff actually lost, intended to punish the defendant for particularly egregious conduct.