The Nice Corporation Issues 8,000 Preference Shares with a of $100

question 104

Multiple Choice

The Nice Corporation issues 8,000 preference shares with a of $100 par value for cash at $110 per share.The entry to record the transaction will consist of a debit to Cash for $880,000 and a credit or credits to

• A)Preference Shares for $880,000.
• B)Share Premium-Preference Shares for $880,000.
• C)Preference Shares for $800,000 and Retained Earnings for $80,000.
• D)Preference Shares for $800,000 and Share Premium-Preference for $80,000.

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A term used to refer to men who are of European descent or identify as belonging to the white racial group.