The Entry to Record Selling 800 Shares of Stated Value

question 105

Multiple Choice

The entry to record selling 800 shares of stated value $37 common stock for $59 per share would be:

• A)debit Cash $47,200; credit Common Stock $29,600; credit Paid-in Capital in Excess of Stated Value-$17,600.
• B)debit Cash $29,600; credit Common Stock $29,600.
• C)debit Cash $29,600; debit Paid-in Capital in Excess of Stated Value-$17,600; credit Common Stock $47,200.
• D)debit Cash $47,200; credit Common Stock $47,200.

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Definitions:

Secondary Information

Secondary information refers to data that was collected by someone else for a different purpose but is being utilized for a current research or analysis.

Minority Population Growth

The increase in the size of groups within a population that are not part of the majority racial, ethnic, or other demographic segment.

Immigration

The action of coming to live permanently in a foreign country.

Switching Costs

These are the costs that a consumer incurs as a result of changing from one product, service, or supplier to another, including financial, time, and effort expenses.