Using the Following Accounts

question 113

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold treasury stock at a price below cost when there was sufficient paid-in capital from treasury stock to absorb the difference between cost and selling price.
Debit ________ & ________ Credit ________

• A)Cash
• B)Dividends payable
• C)Preferred stock
• D)Common stock
• E)Common Stock dividend distributable
• F)Paid-in capital in excess of par value-common
• G)Paid-in capital in excess of par value - preferred
• H)Paid-in capital from treasury stock
• I)Retained earnings
• J)Treasury stock
• K)Paid-in capital in excess of par value-Stock dividend

---

Definitions:

Motivational Goals

Objectives that drive behavior by inspiring individuals to take action towards achieving them.

Internal

Pertaining to or happening within an entity, often used in contrast with external factors or influences.

External

refers to something situated on the outside, or beyond the internal or personal; in psychology, it often pertains to factors or influences that originate outside the individual.

Attitudes

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.