Use the Following Information for Questions

question 6

Multiple Choice

Use the following information for questions.
Galba Corp.'s shareholders' equity at January 1, 2020 was:
Common shares, no par value; authorized 200,000 shares; During 2020, Galba had the following share transactions:
Acquired 2,000 treasury shares for $ 30,000
Sold 1,200 treasury shares at $ 19 a share
Retired the remaining treasury shares
No other share transactions occurred during 2020.
-Instead, assume Galba cancelled the 2,000 shares when it acquired them for $ 30,000. The journal entry to record the retirement would be

• A) Dr. Common Shares, $ 30,000; Cr. Cash, $ 30,000.
• B) Dr. Treasury Shares, $ 30,000; Cr. Cash, $ 30,000.
• C) Dr. Common Shares, $ 28,000; Dr. Contributed Surplus, $ 2,000; Cr. Cash, $ 30,000.
• D) Dr. Common Shares, $ 28,000; Dr. Retained Earnings, $ 2,000; Cr. Cash, $ 30,000.

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Definitions:

Seating Dynamics

The study or implementation of seating arrangements to optimize interaction, comfort, or performance in various settings.

Proxemics

The study of human use of space and the effects that population density has on behavior, communication, and social interaction.

Phonemics

The study of the system and pattern of sounds that occur in a language, focusing on phonemes, which are the smallest units of sound that can distinguish meaning.

Paralanguage

Refers to the non-verbal elements of communication used to modify meaning and convey emotion, such as tone of voice, loudness, and pitch.