The Entry to Record the Issuance of Common Stock for Fully

question 24

Multiple Choice

The entry to record the issuance of common stock for fully paid stock subscriptions is

• A) a memorandum entry.
• B) Common Stock Subscribed,Common Stock Additional Paid-In Capital.
• C) Common Stock Subscribed,Subscriptions Receivable.
• D) Common Stock Subscribed,Common Stock.

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Definitions:

Insurance Policy

An insurance policy is a contract between an insurer and an insured, outlining the terms under which the insurer agrees to compensate the insured for specific losses.

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Unrelated Year-end Adjustments

Adjustments made to the financial statements at year-end that do not pertain to the normal operations of the business.

Prepaid Insurance

An asset account representing payments made for insurance coverage before the coverage period.