On January 1, 2020, Automatic Train Corporation Had 30,000 Common

question 18

Multiple Choice

On January 1, 2020, Automatic Train Corporation had 30,000 common shares outstanding issued at $10 each. On June 1, 2020, Automatic Train Corporation issued 12,000 shares of its common shares at $15 per share. On November 30, 2020, Automatic Train Corporation repurchased 3,000 shares of its common shares for $17 per share. The balance in Common shares on December 31, 2020, as shown on the statement of shareholders' equity, is:

• A) $445,714
• B) $480,000
• C) $429,000
• D) $445,200

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.