If Lantz Company Issues 5,000 Shares of $5 Par Value

question 204

Multiple Choice

If Lantz Company issues 5,000 shares of $5 par value common stock for $210,000, the account

• A) Common Stock will be credited for $25,000.
• B) Paid-in Capital in Excess of Par Value will be credited for $25,000.
• C) Paid-in Capital in Excess of Par Value will be credited for $210,000.
• D) Cash will be debited for $185,000.

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Definitions:

Abnormal Dilations

unusual expansions or widenings of vessels, cavities, or organ passages in the body.

Metabolism

The set of life-sustaining chemical reactions in organisms that involve the conversion of food to energy, the construction of proteins and nucleic acids, and the breakdown of waste products.

Fats

Nutrients that give energy, support cell growth, and help in the absorption of certain vitamins.

Niacin

A water-soluble B vitamin (B3) that is essential for energy metabolism and the health of the nervous system, skin, and digestive system.