Which of the Following Would Be Included in the Entry

question 109

Multiple Choice

Which of the following would be included in the entry to record the issuance of 5,000 shares of $10 par value common stock at $13 per share cash?

• A)Cash would be debited for $65,000.
• B)Common Stock would be debited for $50,000.
• C)Common Stock would be credited for $65,000.
• D)Paid-In Capital in Excess of Par-Common would be debited for $15,000.

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Definitions:

Reconstruction Plan

Relates to the strategies and policies implemented to rebuild and reorganize the Southern United States after the Civil War.

Presidential Pardons

A legal mechanism that allows the president of the United States to fully forgive an individual for federal crimes, thereby removing any remaining penalties or punishments.

Andrew Johnson

The 17th president of the United States, who served from 1865 to 1869, succeeding Abraham Lincoln following his assassination, and was the first American president to be impeached.

Radical Republicans

Group within the Republican Party in the 1850s and 1860s that advocated strong resistance to the expansion of slavery, opposition to compromise with the South in the secession crisis of 1860–1861, emancipation and arming of black soldiers during the Civil War, and equal civil and political rights for blacks during Reconstruction.