What Is the Entry to Record Subscriptions Received for 1,700

question 57

Multiple Choice

What is the entry to record subscriptions received for 1,700 shares of $100 par value common stock at $130 per share?

• A)Debit Common Stock Subscribed $221,000;credit Cash $221,000
• B)Debit Subscriptions Receivable-Common Stock $221,000;credit Common Stock Subscribed $170,000;credit Paid-in Capital in Excess of Par Value-Common $51,000.
• C)Debit Subscriptions Receivable-Common Stock $221,000;credit Common Stock Subscribed $221,000
• D)None of these answers is correct.

---

Definitions:

General Social Survey

A sociological survey conducted in the United States to collect data on demographics, behaviors, attitudes, and societal trends.

Conflict Perspective

A theoretical framework in sociology that views social life as a competition for limited resources, emphasizing the conflicts between differing social classes and groups.

Reproduce Inequality

The perpetuation and maintenance of unequal social structures and relationships across generations, often through institutional practices and cultural norms.

Unequal Funding

The disparity or imbalance in financial resources allocated to different institutions, organizations, or sectors, often leading to inequalities in quality and outcomes.