A Company Sold 10,000 Shares of Its Own $1 Par

question 3

Multiple Choice

A company sold 10,000 shares of its own $1 par value common stock for $60,000.The entry to record the sale would include a

• A) debit to treasury stock for $60,000.
• B) debit to contributed capital for $10,000.
• C) credit to common stock,$1 par value for $10,000..
• D) credit to common stock,$1 par value for $60,000.

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Definitions:

Detachment

The emotional state of being indifferent or disengaged from thoughts, feelings, or connections to others.

Body

The physical structure of a living organism, comprising all its biological systems and parts.

Multiple Personalities

A condition, also known as Dissociative Identity Disorder, characterized by the presence of two or more distinct personality states.

Secondary Personality

An alternate or supplementary personality that emerges distinct from an individual's primary personality, often in the context of dissociative identity disorder.