Using the Following Accounts

question 34

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Exchanged common stock for a building and land when the stock was selling at a discount.
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:

Arrhythmia

An irregular heartbeat that can range from too fast, too slow, or erratic, disrupting normal heart rhythm.

Blood Pressure

The force exerted by circulating blood on the walls of the body's arteries, typically measured to assess heart and circulatory health.

Arterial Walls

The layers of tissue that form the outer structure of arteries, responsible for maintaining blood pressure and flow throughout the body.

Heart Contracts

The process by which the heart muscle actively tightens and relaxes to pump blood throughout the body.