If Kiner Company Issues 4,500 Ordinary Shares with a $5

question 15

Multiple Choice

If Kiner Company issues 4,500 ordinary shares with a $5 par value for $80,000, the account

• A) Share Capital-Ordinary will be credited for $22,500.
• B) Share Premium-Ordinary will be credited for $22,500.
• C) Share Premium-Ordinary will be credited for $80,000.
• D) Cash will be debited for $57,500.

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Definitions:

Ratio Data

A type of quantitative data that not only measures the magnitude but also allows for the comparison of differences and the calculation of ratios, having an absolute zero point.

Categorical Data

Data that can be categorized into groups or categories that are mutually exclusive, without any natural ordering.

Obtaining

The act of acquiring or getting something through effort or request.

VLOOKUP

A function in spreadsheet programs that searches for a value in the first column of a table and returns a value in the same row from a specified column.