A Corporation Sold 14,000 Shares of Its $10 Par Value

question 188

Multiple Choice

A corporation sold 14,000 shares of its $10 par value common stock at a cash price of $13 per share.The entry to record this transaction would include:

• A)A debit to Contributed Capital in Excess of Par Value,Common Stock,for $42,000.
• B)A debit to Cash for $140,000.
• C)A credit to Common Stock for $182,000.
• D)A credit to Common Stock for $140,000.
• E)A credit to Contributed Capital in Excess of Par Value,Common Stock,for $182,000.

Understand the rationale for sales territory design and its impact on sales efficiency.

Recognize the application and importance of break-even analysis in sales.

Identify different selling approaches and their application to sales strategy.

Explain the role of technology in enhancing salesperson time efficiency.

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Definitions:

Condensed Income Statement

A simplified income statement that presents only key revenue and expense items, ignoring detailed breakdowns.

Discontinuance

The act of ending or terminating a business operation or the production of a product line.

Current Year

The present calendar or fiscal year in which a company operates and reports financial transactions.

Opportunity Cost

The benefit foregone by choosing one alternative over another.