Centrador Issues 200,000 No-Par Value Shares for $150 Per Share

question 50

Multiple Choice

Centrador issues 200,000 no-par value shares for $150 per share in 2018.Three years later,it repurchases 30,000 of these shares for $80 per share.Centrator records the repurchase in which of the following ways?

• A)Debit Common Shares for $2.4 million,debit cash for $2.1 million and credit Contributed capital for $4.5 million.
• B)Debit Common Shares for $4.5 million and credit Cash for $2.4 million and contributed surplus for $2.1 million.
• C)Debit common shares for $4.5,debit contributed surplus for $2.4 and credit cash for $2.1 million.
• D)Debit Cash for $4.5 million,credit Common shares for $2.4 million and credit Contributed Surplus for $2.1 million.

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Definitions:

Premotor Cortex

A brain region located anterior to the primary motor cortex, involved in the planning and preparation of movements.

Dorsal Visual Stream

The pathway in the brain that processes spatial and motion information, extending from the occipital lobe to the parietal lobe.

Ventral Visual Stream

A pathway in the brain involved in object recognition and form representation, extending from the visual cortex to the lower temporal lobe.

Dorsal Regions

Areas located on the back side of the body or brain, opposite to ventral regions.