The Mars Company Issued 150 Shares of Its $13 Par

question 108

Multiple Choice

The Mars Company issued 150 shares of its $13 par value stock for $21 per share. The entry to record the receipt of cash and issuance of the stock would include a:

• A) debit to Cash of $1,950; credit to Common Stock for $1,950.
• B) debit to Cash for $3,150.
• C) credit to Common Stock for $3,150.
• D) debit to Discount on Common Stock for $1,200.

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Definitions:

Desired Behavior

The specific actions or reactions that an organization aims to elicit from its members or employees.

Apprenticeship

A system of training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study (classroom work and reading).

Master Carpenters

Highly skilled and experienced craftsmen in carpentry, capable of managing complex projects and mentoring apprentices.

Carpentry Skills

The abilities and competencies related to constructing, fitting, and repairing wooden structures and components.