Which of the Following Journal Entries Is Correct When Common $\quad$

question 24

Multiple Choice

Which of the following journal entries is correct when common stock is sold for cash at a price greater than par value?

• A) Cash
• \( \quad \)Common stock
• \( \quad \)Gain on sale of stock
• B) Cash
• Additional paid-in capital
• \( \quad \)Common Stock
• C) Cash
• \( \quad \)Common Stock
• D) Cash
• \( \quad \)Common stock
• \( \quad \)Additional paid-in capital

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Definitions:

Major Sources

Principal or most important origins or points of supply, typically referring to information, materials, or resources.

Glocalization

A combination of globalization and localization, referring to the adaptation of global products, ideas, and cultural practices to local contexts and markets.

Homogenization

The process of making things uniform or similar, often used in cultural contexts to describe the reduction of cultural diversity through the dominance of particular cultural norms.

Local Differences

Variations or disparities that occur within regions, communities, or populations, often influenced by cultural, environmental, or socioeconomic factors.