Bradley Corporation Issued 10,000 Shares of Common Stock on January

question 55

Multiple Choice

Bradley Corporation issued 10,000 shares of common stock on January 1, 2015. The stock has a par value of $0.01 per share and was sold for cash at par. Which of the following is the correct journal entry to record this transaction?

• A)Cash debited for $100 and Common Stock-$0.01 Par Value credited for $100
• B)Cash credited for $10,000 and Common Stock-$0.01 Par Value debited for $10,000
• C)Paid-In Capital in Excess of Par-Common debited for $9,900 and Common Stock-$0.01 Par Value credited for $9,900
• D)Cash debited for $10,000, Common Stock-$0.01 Par Value credited for $100, and Paid-In Capital in Excess of Par-Common credited for $9,900

Understand the effects of government assistance and fiscal policy on unemployment.

Understand the significance of fiscal policy during different economic conditions (recession, inflation).

Grasp the long-term implications of national debt management and fiscal policy decisions.

Understand the conceptual differentiation between the public self and self-concept.

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Definitions:

Virus

A virus is a microscopic infectious agent that replicates only inside the living cells of other organisms, potentially causing disease.

Allergic Reaction

An allergic reaction is an immune system response to a usually harmless substance, resulting in symptoms ranging from mild irritation to severe anaphylaxis.

Allergen

A substance that can cause an allergic reaction by stimulating the immune response in susceptible individuals.

Anaphylactic Shock

Severe systemic form of anaphylaxis involving bronchiolar constriction, impaired breathing, vasodilation, and a rapid drop in blood pressure with a threat of circulatory failure.