Rakish Co Purchases 3,500 Shares of the Company's $6 Par Value

question 157

Multiple Choice

Rakish Co. purchases 3,500 shares of the company's $6 par value common stock for $8 per share. It later sells 2,000 shares for $12 per share. Which of the following is the correct journal entry to record this transaction?

• A) Debit Cash $24,000 and credit Treasury stock $24,000.
• B) Debit Cash $24,000, credit Treasury stock $16,000 and credit Paid-in capital $8,000.
• C) Debit Treasury stock $24,000 and credit Cash $24,000.
• D) Debit Common stock $12,000, debit Paid-in capital $12,000 and credit Cash $24,000.

Understand the principles of span of control within an organizational hierarchy.

Appreciate the role of functional design in fostering skill specialization and technical decision-making.

Acknowledge the impact of organizational design on resource allocation and conflict management.

Identify the various parts of the pharynx and distinguish which are not part of it.

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Definitions:

Fromm's Theory

A psychoanalytic theory developed by Erich Fromm that focuses on the human need for freedom and the ways societal structures can impede or foster personal development.

Kelly's Theory

A psychological framework proposing that people develop personal constructions of reality to understand their experiences and guide their behavior.

Homosexual

A sexual orientation characterized by attraction to people of the same sex.

"Real Man"

A societal concept that often refers to stereotypical male behaviors and traits emphasizing strength, stoicism, and dominance.