Use the Following Information to Answer Questions

question 8

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.
-The journal entry to record the issuance of the shares upon receipt of the final instalment includes a

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

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Definitions:

Intrusion

An act of entering into a place or situation where one is unwelcome or not authorized.

Externality

A consequence of an industrial or commercial activity that affects other parties without this being reflected in market prices.

Uncompensated Impact

Uncompensated impact refers to effects borne by parties who are not directly involved in a transaction or activity and are not compensated for their losses.

Well-Being

The state of being comfortable, healthy, or happy, often considered in a broad perspective including physical, psychological, and social aspects.