The Following Selected Transactions Pertain to Nesley Corporation

question 181

Essay

The following selected transactions pertain to Nesley Corporation:
Jan. 3 Issued 100,000 shares, $10 par value, common stock for $22 per share.
Feb. 10 Issued 6,000 shares, $10 par value, common stock in exchange for special purpose equipment. Nesley Corporation's common stock has been actively traded on the stock exchange at $25 per share.
Instructions
Journalize the transactions.

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Definitions:

Theory Perseverance

The persistence of one's initial beliefs, even in the face of contradicting evidence or after the evidence for their foundation has been discredited.

Availability Heuristic

The availability heuristic is a mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision, often leading to bias.

False Consensus Effect

The tendency to overestimate the number of other people who share one’s opinions, attitudes, values, and beliefs.

Illusion Of Control

The false belief that one can influence certain events, especially random or chance ones.