If Valley Corporation Issues 2,000 Common Shares for $140,000, Which

question 81

Multiple Choice

If Valley Corporation issues 2,000 common shares for $140,000, which account will be credited?

• A)Common Shares
• B)Retained Earnings
• C)Contributed Capital
• D)Cash

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Definitions:

Car Salesman

A person who sells new or used vehicles at a dealership.

Margins

The difference between the selling price of a good or service and its cost of production, often expressed as a percentage of the selling price, indicative of profitability.

Company Owned Store

A retail establishment directly controlled and operated by the corporation that owns the brand, as opposed to a franchise.

Manager

An individual responsible for controlling or administering all or part of a company or similar organization.