Darman Company Issued 700 Shares of No-Par Common Stock for $7,700

question 127

Short Answer

Darman Company issued 700 shares of no-par common stock for $7,700. Which of the following journal entries would be made if the stock has a stated value of $2 per share? a.
$\begin{array}{lrl}\text { Cash } & 7,700 & \\\text { Common Stock } && 7,700\end{array}$

b.
$\begin{array}{lll}\text { Cash } & 7,700 & \\\text { Common Stock } && 1,400 \\\text { Paid-in Capital in Excess of Par } && 6,300\end{array}$

c.
$\begin{array}{lrl}\text { Cash } & 7,700 & \\\text { Common Stock } & & 1,400 \\\text { Paid-in Capital in Excess of Stated Value } & & 6,300\end{array}$

d.
$\begin{array}{cc}\text { Common Stock }&7,700 \\\text { Cash }& & 7,700 \\\end{array}$

Identify the components of operations planning in manufacturing.

Understand the advantages of standardization in manufacturing processes.

Differentiate between customization and standardization in product manufacturing.

Distinguish between the operational characteristics of service providers and manufacturers.

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Definitions:

Accountable

Being responsible for one's actions or decisions, often within a professional context, and facing potential consequences for failures.

Detrimental Effects

Negative impacts or outcomes that arise from a particular action or set of conditions, often leading to harm or disadvantage.

Perceive Leaders

How individuals within an organization view its leaders, often based on leadership style, effectiveness, and personal interactions.

Men and Women

Refers to the two fundamental human sexes, each with its own biological and social characteristics, playing diverse roles in society.