Use the Following Information to Answer Questions

question 24

Multiple Choice

Use the following information to answer questions
Prague Corp.is authorized to issue 400,000 no par value common shares.Subscribers agree to purchase shares at $15 per share with a 30% down payment.
-Assume that subscribers agree to purchase 50,000 shares and make the required down payment.The journal entry to record receipt of the subscriptions includes a

• A)debit to Common Shares Subscribed for $750,000.
• B)credit to Common Shares Subscribed for $750,000.
• C)credit to Common Shares for $225,000.
• D)credit to Subscriptions Receivable for $525,000.

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Definitions:

Self-Important

Having an exaggerated sense of one's own value or importance.

Happy

Experiencing a state of contentment, joy, or pleasure.

Self-Disclosure

The act of revealing personal information about oneself to others, which can create intimacy and trust in relationships.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, often considered as the drive behind personal growth and self-improvement.