A Corporation Received a Subscription for 100 Shares of 10

question 44

Multiple Choice

A corporation received a subscription for 100 shares of 10 percent, $100 par-value preferred stock at $103 a share. The entry to record this transaction consists of a debit to Subscriptions Receivable
-Preferred for $10,300 and a credit to:

• A)Preferred Stock Subscribed for $10,300.
• B)Preferred Stock Subscribed for $10,000 and a credit to Gain on Sale of Preferred Stock for
• $300.
• C)Preferred Stock for $10,000 and a credit to Retained Earnings for $300.
• D)Preferred Stock Subscribed for $10,000 and a credit to Paid-in Capital in Excess of Par Value
• -Preferred Stock for $300.

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Definitions:

Underlying Drives

Fundamental motivations or impulses that influence behavior and decision-making.

Health Insurance

Financial protection that covers the cost of an individual's medical and surgical expenses based on the type of insurance coverage secured.

Psychotherapy

Psychotherapy is a form of treatment for mental health issues which involves talking with a mental health professional to understand and change problematic thoughts, feelings, and behaviors.

HMOs

Health Maintenance Organizations, which are medical insurance groups that provide health services for a fixed annual fee, emphasizing preventive care.