Please Refer to the Following Information for Petra Sales Company

question 2

Multiple Choice

Please refer to the following information for Petra Sales Company: If Petra Sales sells 10,000 shares of treasury stock at $14 per share, what journal entry will be made?

• A)Debit Cash $140,000 and credit Treasury stock $140,000.
• B)Debit Cash $140,000, credit Treasury stock $120,000 and credit Paid-in capital $20,000.
• C)Debit Treasury stock $140,000 and credit Cash $140,000.
• D)Debit Cash $140,000, credit Treasury stock $120,000 and credit Gain on sale of treasury stock $20,000.

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Definitions:

Reciprocal Determinism

Reciprocal Determinism is a concept introduced by Albert Bandura which posits that a person's behavior is influenced by personal factors and their environment, and these factors influence each other.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, emphasizing the role of reinforcement in shaping actions.

Self-Actualized

The state in which an individual achieves their fullest potential, including creative expression, quest for spiritual enlightenment, pursuit of knowledge, and the desire to give to society.

Physiological Needs

Basic, essential life requirements such as food, water, and shelter that must be met for survival.