The Entry to Record a Subscription for 100 Shares of Common

question 32

True/False

The entry to record a subscription for 100 shares of common stock at par value would consist of a debit to Subscriptions Receivable-Common and a credit to Common Stock.

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Definitions:

Pressurized Lubricant

Lubrication method in which oil or another fluid is pumped under pressure to bearings, gears, and other components needing reduced friction and wear.

Spider

The axle hub mounting to which truck foundation brakes are mounted. Also a slang term for a U-joint cross or trunnion.

Four Pinions

Describes a gear assembly configuration that includes four pinion gears, often found in differential assemblies to evenly distribute torque to the wheels.

Truck Differential

A mechanical device in a truck that allows the outer drive wheel to rotate faster than the inner drive wheel during a turn, improving traction and handling.