Cole Corporation Issues 10,000 Preference Shares with a $50 Par

question 181

Multiple Choice

Cole Corporation issues 10,000 preference shares with a $50 par value for cash at $60 per share.The entry to record the transaction will consist of a debit to Cash for $600,000 and a credit or credits to

• A)Preference Shares for $600,000.
• B)Preference Shares for $500,000 and Share Premium-Preferred Share for $100,000.
• C)Preference Shares for $750,000 and Share Premium for $100,000.
• D)Share Premium for $600,000.

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Definitions:

Prospect's Time

The period a potential buyer allocates to engage with a salesperson, crucial for presenting and discussing product or service offerings.

Sincere Desire

A genuine and earnest wish or aspiration to achieve a particular outcome or goal.

Approach Techniques

Specific methods or tactics used by sales professionals to initiate contact and build rapport with potential customers.

Sales Presentation

A structured pitch or demonstration aimed at persuading a prospect to purchase a product or service.