Using the Following Accounts

question 99

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transaction.
-Exchanged common stock for services of corporation organizers (valued at par) .
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

---

Definitions:

Media Violence

This encompasses representations of violent acts and aggression in various forms of media, which studies have shown can influence aggressive behavior in some individuals.

Aggressive Behavior

Actions that are intended to cause harm or pain to another person, or to destroy property.

Teenagers

Individuals typically between the ages of 13 and 19, characterized by rapid physical, emotional, and social development during the transition from childhood to adulthood.

High School

An educational institution that typically includes grades 9 through 12, focused on preparing teenagers for college, vocational training, or the workforce.