Five Hundred Common Shares Trading at $25/share Were Exchanged for a Piece

question 68

Multiple Choice

Five hundred common shares trading at $25/share were exchanged for a piece of equipment with a current market value of $13,500. The journal entry to record the transaction would include a:

• A) credit to Equipment for $12,500.
• B) debit to Common Shares for $12,500.
• C) credit to Common Shares for $12,500.
• D) credit to Common Shares for $13,500.
• E) debit to Equipment for $13,500.

---

Definitions:

Cognitive Treatment

A psychotherapeutic approach aiming to change faulty, biased, or distorted thinking patterns and beliefs that contribute to psychological distress.

Anorexia

A psychological disorder characterized by an extreme reduction in body weight, acute fear of weight gain, and a warped perception of body dimensions or appearance.

Eating Disorder

A range of psychological disorders characterized by abnormal or disturbed eating habits, which can severely impact health and well-being.

Psychological Disorders

Disorders that involve abnormal thoughts, feelings, and behaviors, impairing the ability to function.