Which of the Following Journal Entries Is Correct for Smith $\begin{array}{lr}\text { Building } & 220,000 \\\text { Cash } && 20,000 \\\text { Common stock } \quad\quad\quad\quad&& 200,000\end{array}$

question 43

Multiple Choice

Which of the following journal entries is correct for Smith Company when Smith issues 10,000 shares of $20 par value common stock and pays $20,000 cash in exchange for a building? The market price of the Smith stock on the exchange date was $35 per share and the building's book value on the books of the seller was $200,000. a. $\begin{array}{lr}\text { Building } & 220,000 \\\text { Cash } && 20,000 \\\text { Common stock } \quad\quad\quad\quad&& 200,000\end{array}$

b. $\begin{array}{lr}\text { Building } \quad\quad\quad\quad\quad\quad\quad& 370,000 \\\quad \text { Cash } && 20,000 \\\text { Common Stock } && 350,000\end{array}$

c. $\begin{array}{lr}\text { Building } & 370,000 \\\text { Cash } &&200,000 \\\text { Common stock } && 20,000 \\\text { Additional paid-in capital }&&150,000\end{array}$

d. $\begin{array}{lr}\text {Building }&370,000\\\text { Common stock }\quad\quad\quad\quad\quad&&370,000\\\end{array}$

• A) Option A
• B) Option B
• C)Option C
• D)Option D

Understand the role of creative problem-solving in sales.

Appreciate the significance of empathy, kindness, and trust in building sales relationships.

Recognize the importance of setting goals and accomplishing them in sales planning.

Understand the process and strategies involved in effective sales calls.

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Definitions:

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Acts of violence, discrimination, or prejudice against Jewish people based on anti-Semitic beliefs.

Squadristi

Italian fascist paramilitary groups active during the rise of fascism in Italy, particularly known for their violence and intimidation tactics.

Night of the Long Knives

A purge that took place in Nazi Germany from June 30 to July 2, 1934, where Adolf Hitler ordered the execution of potential political rivals and dissenters.