Global Corporation Had 50,000 Shares of $20 Par Value Common

question 214

Multiple Choice

Global Corporation had 50,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $27. The entry to record the dividend declaration is:

• A) No entry is made until the stock is issued.
• B) Debit Retained Earnings $135,000; credit Common Stock Dividend Distributable $135,000.
• C) Debit Retained Earnings $135,000; credit Cash $135,000.
• D) Debit Retained Earnings $100,000; credit Common Stock Dividend Distributable $100,000.
• E) Debit Retained Earnings $135,000; credit Common Stock Dividend Distributable $100,000; credit Paid-In Capital in Excess of Par Value, Common Stock $35,000.

Grasp the necessity of a "beginner's mind" in learning and critical thinking.

Acknowledge the role of critical thinking in questioning and challenging traditional practices and beliefs.

Understand the importance of research and inquiry skills in critical thinking.

Understand the historical context and significance of the Fifteenth Amendment.

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Definitions:

Communal Orientation

An attitude or approach focused on sharing and prioritizing communal goals and responsibilities over individual needs or achievements.

Collective Guilt

Feelings of guilt experienced by members of a group due to actions or misdeeds perceived as perpetrated by the group.

Communal Orientation

A personality trait or orientation characterized by a focus on the community and others, emphasizing cooperation and sharing.

Narcissism

A personality trait characterized by an excessive focus on oneself, a need for admiration, and a lack of empathy for others.