Using the Following Accounts

question 10

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Sold common stock at a price equal to the par value.
Debit ________ Credit ________

• A)Subscription receivable-common stock
• B)Cash
• C)Machinery
• D)Building
• E)Land
• F)Organization costs
• G)Preferred stock
• H)Common stock
• I)Paid in capital in excess of par value - common
• J)Paid in capital in excess of par value - preferred
• K)Common stock subscribed
• L)Discount on common stock
• M)Organization Expense

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Definitions:

Ego Identity

A sense of self that develops through social interaction, as proposed by Erik Erikson, playing a crucial role in one's feelings of continuity and sameness across time.

Personality

A mixture of feelings, attitudes, and patterns of action that characterizes a person.

Environmental Approach

A method or strategy that focuses on altering the physical or social environment to influence behavior, rather than changing the behavior itself.

Genetic Factors

Elements within an organism's genes that influence its physical and behavioral traits.