Using the Following Accounts

question 20

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Exchanged preferred stock for a building when the stock was selling at a premium.
Debit ________ Credit ________ & ________

• A)Subscription receivable-common stock
• B)Cash
• C)Machinery
• D)Building
• E)Land
• F)Organization costs
• G)Preferred stock
• H)Common stock
• I)Paid in capital in excess of par value - common
• J)Paid in capital in excess of par value - preferred
• K)Common stock subscribed
• L)Discount on common stock
• M)Organization Expense

---

Definitions:

Neuron

A specialized cell transmitting nerve impulses; a nerve cell, the fundamental unit of the nervous system with the ability to communicate information through electrical and chemical signals.

Nucleus

The central and most important part of an atom, cell, or structure, typically containing protons and neutrons in an atom or genetic material in a cell.

Organelles

Specialized subunits within a cell that have specific functions, crucial for the cell to live, operate, and replicate.

Motor Information

Motor Information refers to data or signals related to the control of muscle movements, including those directed from the brain to various parts of the body to initiate action.