A Corporation Originally Issued $5 Par Value Stock for $6

question 142

Multiple Choice

A corporation originally issued $5 par value stock for $6 per share. Which of the following would be included in the entry to record the purchase of 200 shares of treasury stock for $8 per share?

• A) Treasury stock would be debited for $1,600.
• B) Treasury stock would be credited for $1,600.
• C) Retained earnings would be debited for $1,000.
• D) Treasury stock would be debited for $1,000.

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Definitions:

World Power

A nation or state that has significant influence and authority on a global scale, often through economic, military, or political means.

Terrorism

Defined by American law as premeditated, politically motivated violence against noncombatant targets including unarmed or off-duty military personnel by subnational groups or clandestine agents, usually intended to influence an audience. However, a broader definition would include the use by states of indiscriminate violence against civilians in order to achieve military and political goals. Moreover, what one side in a conflict would call terror might be regarded by the other side as legitimate resistance to occupation, as well as ethnic, religious, or national oppression.

Welfare State

A government system that provides social security, health care, and financial aid to its citizens.

Policy Group

involves a collective or body focused on the development, advocacy, or implementation of specific policies or guidelines within an organization or society.