If Vickers Company Issues 4,000 Ordinary Shares with a $5

question 71

Multiple Choice

If Vickers Company issues 4,000 ordinary shares with a $5 par value for $140,000,

• A)Share Capital-Ordinary will be credited for $140,000.
• B)Share Premium-Ordinary will be credited for $20,000.
• C)Share Premium-Ordinary will be credited for $120,000.
• D)Cash will be debited for $120,000.

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Definitions:

Americas

A collective term for the continents of North America and South America, including all its countries and regions.

Negros De Ganhos

A term from Brazilian history referring to enslaved Africans who were allowed to work for their own earnings, albeit under conditions set by slaveholders.

Roman Catholicism

The largest branch of Christianity, led by the Pope, characterized by its liturgical traditions and doctrines like the sacraments and the teaching authority of the Church.

Brazilian Interior

Refers to the inner, often less developed and less populated regions of Brazil, contrasted with the coastal areas where the majority of the population lives.