The Entry to Record Selling 700 Shares of Stated Value

question 28

Multiple Choice

The entry to record selling 700 shares of stated value $50 common stock for $74 per share would be:

• A)debit Cash $51,800; credit Common Stock $51,800.
• B)debit Cash $35,000; credit Common Stock $35,000.
• C)debit Cash $35,000; debit Paid-in Capital in Excess of Stated Value-$16,800; credit Common Stock $51,800.
• D)debit Cash $51,800; credit Common Stock $35,000; credit Paid-in Capital in Excess of Stated Value-$16,800.

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Definitions:

Midsaggital

A plane that divides the body or an organ vertically into right and left halves; also known as the median plane.

Midsaggital Plane

An anatomical plane that divides the body or an organ vertically into equal right and left halves; also known as the median plane.

Thoracic Cavity

The compartment of the body located between the neck and the abdomen, housing organs such as the heart and lungs.

Spinal Cord

The spinal cord is a long, thin, tubular structure made up of nervous tissue that extends from the brainstem to the lower back, conducting signals between the brain and the body and controlling reflexes.