If Kiner Company Issues 3,000 Ordinary Shares with a $5

question 101

Multiple Choice

If Kiner Company issues 3,000 ordinary shares with a $5 par value for $70,000, the account

• A)Share Capital-Ordinary will be credited for $15,000.
• B)Share Premium-Ordinary will be credited for $15,000.
• C)Share Premium-Ordinary will be credited for $70,000.
• D)Cash will be debited for $55,000.

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Definitions:

Capillaries

The smallest blood vessels in the body's circulatory system, where the exchange of water, oxygen, carbon dioxide, and other nutrients and waste substances occurs between blood and tissues.

Arterioles

Small blood vessels that extend and branch out from arteries and lead to capillaries, playing a key role in regulating blood pressure.

Vena Cava

The two large veins (the superior vena cava and the inferior vena cava) that carry deoxygenated blood from the body back to the heart.

Atrioventricular Valve

One of the two valves that separate the atrium and the ventricle in the heart, preventing backflow of blood.