Using the Following Accounts

question 113

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold treasury stock at a price below cost when there was sufficient paid-in capital from treasury stock to absorb the difference between cost and selling price.
Debit ________ & ________ Credit ________

• A)Cash
• B)Dividends payable
• C)Preferred stock
• D)Common stock
• E)Common Stock dividend distributable
• F)Paid-in capital in excess of par value-common
• G)Paid-in capital in excess of par value - preferred
• H)Paid-in capital from treasury stock
• I)Retained earnings
• J)Treasury stock
• K)Paid-in capital in excess of par value-Stock dividend

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Definitions:

Fundamental Attribution Errors

The tendency to overemphasize personality-based explanations for behaviors observed in others while underemphasizing the role of situational factors.

Situational Attribution

Attributing a behavior to some external cause or factor operating within the situation; an external attribution.

Social Psychology

The scientific study of how individuals think, feel, and behave in social contexts.

Imagined Presence

The psychological phenomenon of feeling or sensing that another person or entity is present when they are not.