Using the Following Accounts

question 22

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Sold common stock at a price above the par value.
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:

Repress

To block off memories that may cause pain, embarrassment, or guilt.

Experiences

Life events or activities that a person goes through, contributing to their knowledge, skills, and personal development.

Peak Communications

Peak Communications describes moments of optimal interaction, where communication is exceptionally clear, meaningful, and effective.

Empathy

The ability to understand and share the feelings of another.