Korgen Company Sells Common Stock at Par Value, and Records

question 45

Multiple Choice

Korgen Company sells common stock at par value, and records a:

• A) debit to Common Stock and a credit to Cash.
• B) debit to Equipment and a credit to Common Stock.
• C) debit to Cash and a credit to Common Stock.
• D) debit to Cash, credit to Common Stock and a credit to Paid in Capital in Excess of Par Value-Common Stock.

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Definitions:

Apicomplexans

A group of protozoan parasites, known for their role in diseases such as malaria.

Parasitic

Describes organisms that live on or in a host organism and get their food at the expense of their host, often causing harm.

Amoebozoa

Members of the unikont clade characterized by lobose pseudopodia at some time in the life cycle; include amoebas, plasmodial slime molds, and cellular slime molds. Compare with opisthokonts.

Unicellular

Describes organisms made up of a single cell, which performs all necessary functions for life, such as bacteria and some algae.