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

question 149

Multiple Choice

Bradley Corporation issued 10,000 shares of common stock on January 1, 2013. The stock has par value of $0.01 per share and was sold at $25 per share. The journal entry for this transaction would:

• A) debit Cash $250,000, credit Paid-in capital $100, and credit Common stock $249,900.
• B) credit Cash $250,000 and debit Paid-in capital $250,000.
• C) credit Cash $250,000, debit Common stock $100, and debit Paid-in capital $249,900.
• D) debit Cash $250,000, credit Common stock $100, and credit Paid-in capital $249,900.

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Definitions:

Sects

Relatively small religious groups that have branched off from a larger religion, often with distinct beliefs and practices diverging from mainstream traditions.

General Social Survey

A sociological survey conducted in the United States to collect data on demographic characteristics and attitudes covering a wide range of subjects.

Doubt

A feeling of uncertainty or lack of conviction about something, which may lead to questioning beliefs, decisions, or the reliability of information.

Respondents

Individuals who answer or respond to surveys and questionnaires as part of research studies.