Barton Company Is a Publicly Held Corporation Whose $1 Par

question 82

Multiple Choice

Barton Company is a publicly held corporation whose $1 par value stock is actively traded at $31 per share.The company issued 3,000 shares of stock to acquire land recently advertised at $100,000.When recording this transaction, Barton Company will

• A)debit Land for $100,000.
• B)credit Common Stock for $93,000.
• C)debit Land for $93,000.
• D)credit Paid-In Capital in Excess of Par for $93,000.

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Definitions:

Information-Processing

A cognitive approach that likens human thought to the way computers process information, emphasizing the ways we take in, use, and store information.

Self-Image

An individual's conception of themselves and their attributes.

Declarative Knowledge

Information held in memory that is able to be verbalized; sometimes called knowing that.

Ego

In psychoanalysis, the part of the psyche that mediates between the conscious, the unconscious, and the external world.