Using the Following Accounts

question 10

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Sold common stock at a price equal to the par value.
Debit ________ Credit ________

• A)Subscription receivable-common stock
• B)Cash
• C)Machinery
• D)Building
• E)Land
• F)Organization costs
• G)Preferred stock
• H)Common stock
• I)Paid in capital in excess of par value - common
• J)Paid in capital in excess of par value - preferred
• K)Common stock subscribed
• L)Discount on common stock
• M)Organization Expense

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Definitions:

Deoxyhemoglobin

Hemoglobin without oxygen, the form present after oxygen has been released to the tissues.

Buffy Coat

The fraction of an anticoagulated blood sample that is composed of white blood cells and platelets, visible as a thin layer between the red blood cells and plasma in centrifuged blood.

Centrifuge Tube

A laboratory vessel specifically designed to withstand the forces generated during a centrifugation process, used for separating mixtures.

Platelets

Small blood cells involved in clotting, helping prevent bleeding by forming plugs in vessel injuries.