If 10,000 Shares with Par Value of $15/share Are Issued

question 10

Multiple Choice

If 10,000 shares with par value of $15/share are issued for $20/share,how much will be presented as "contributed surplus" for financial statement purposes?

• A)$10,000
• B)$50,000
• C)$150,000
• D)$200,000

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Definitions:

Legally Accountable

Being responsible or answerable in law; legally obligated to face the consequences of one's actions or decisions.

Concentration

Term applied to designated groups whose numbers in a particular occupation or level are high relative to their numbers in the labour market

Protected Class

Groups of people legally protected from discrimination and harassment, based on characteristics such as age, race, gender, religion, and disability.

Labour Market

The supply and demand for labor, where employees provide the supply and employers create the demand.