Gertrudis Corporation Has $10 Par Value Common Stock and Has

question 108

Multiple Choice

Gertrudis Corporation has $10 par value Common Stock and has 1,000,000 shares authorized, 750,000 shares issued. The entry to record Gertrudis' purchase of 10,000 shares of common stock at $15 per share is a:

• A)credit to Common Stock for $130,000.
• B)credit to Paid- in Capital in Excess of Par Value-Common for $65,000.
• C)debit to Retained Earnings for $65,000.
• D)debit to Treasury Stock for $150,000.

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Definitions:

Contradictory

Refers to statements that cannot both be true at the same time because they express opposite assertions.

Real Estate Deals

Transactions or agreements made in the context of buying, selling, or leasing property.

Forms

The structures, shapes, or external appearances of objects as perceived or conceptualized.

Contradictory Propositions

Propositions that cannot both be true at the same time, as they make opposite claims.