Caesar Cruise Lines, Inc $$\begin{array} { | l | l | l | } \hline \text { Cash } & 192,000 & \\\hline \text { Common Stock -no par } & & 192,000 \\\hline\end{array}$$

question 123

Multiple Choice

Caesar Cruise Lines, Inc. issues 8,000 shares of its no-par common stock. The issue price of the stock is $24 per share. What is the journal entry required to record the issuance of the shares?

• A) \[\begin{array} { | l | l | l | }
• \hline \text { Cash } & 192,000 & \\
• \hline \text { Common Stock -no par } & & 192,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 8,000 & \\
• \hline \text { Common Stock-nopar } & & 8,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Cash } & 192,000 & \\
• \hline \text { Common Stock-nopar } & & 8,000 \\
• \hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 184,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Common Stock } & 8,000 & \\
• \hline \text { Addl. Paid-in Capital in Excess of Par-Common } & & 8,000 \\
• \hline
• \end{array}\]

Apply significance levels to determine the outcome of statistical tests.

Calculate expected frequencies for chi-square goodness-of-fit tests.

Understand the foundations of significance testing and its application in real-world scenarios.

Interpret the results of chi-square tests for independence and goodness-of-fit.

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Definitions:

Trend

A general direction in which something is developing or changing.

Adjusted Trial Balance

A trial balance after adjustments, showing the balances of all accounts including those adjusted, which will be used for preparing financial statements.

Supplies Expense

An accounting term referring to the cost consumed in using up supplies such as office materials over a specific accounting period.

Error

A mistake in the recording, classification, or processing of financial and non-financial transactions in accounting records.