The Entry to Record the Sale of 7,000 Shares of Treasury

question 93

Multiple Choice

The entry to record the sale of 7,000 shares of treasury stock that cost $11 per share for $13 per share includes a:

• A)credit to Paid-in Capital in Excess of Par Value-Common for $98,000.
• B)debit to debit to Retained Earnings for $98,000.
• C)credit to Paid-in Capital from Treasury Stock transactions for $14,000.
• D)debit to Treasury stock for $24,000.

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Definitions:

Nitrogens

A rephrasing of "Nitrogens" would be: Chemical elements with the symbol N, essential for all living organisms as a constituent of proteins and nucleic acids.

HCN Bond Angle

The angle between the hydrogen, carbon, and nitrogen atoms in hydrogen cyanide, typically close to 180 degrees due to its linear molecular shape.

Hydrogen Cyanide

A highly toxic and volatile chemical compound with the formula HCN, characterized by a distinctive bitter almond odor.

Hybridization

The concept in chemistry where atomic orbitals mix to form new hybrid orbitals, which are suitable for the pairing of electrons to form chemical bonds in molecular compounds.