Dallkin Corporation Issued 5,000 Shares of Common Stock on January

question 40

Multiple Choice

Dallkin Corporation issued 5,000 shares of common stock on January 1, 2015. The stock has no par value and was sold at $18 per share. The journal entry for this transaction would include a:

• A)debit to Cash for $90,000 and a credit to Common Stock-No-Par Value for $90,000.
• B)debit to Cash for $90,000 and a credit to Paid-In Capital in Excess of Par-Common for $600,000.
• C)credit to Cash for $90,000 and a debit to Common Stock-No-Par Value for $90,000.
• D)credit to Cash for $90,000, a debit to Paid-In Capital in Excess of Par-Common for $5,000, and a debit to Common Stock-No-Par Value for $85,000.

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Definitions:

Consciousness

The condition or characteristic of being conscious of an external entity or an internal aspect of oneself.

Altered States

Conditions in which the mind's perception of the world is significantly different from normal, such as during meditation, hypnosis, or drug-induced experiences.

Consciousness

The state of being awake and aware of one's surroundings and experiences.

EEG

Electroencephalography, a method to record electrical activity of the brain via electrodes placed on the scalp.