A Corporation Issued 6,000 Shares of Its $2 Par Value

question 138

Multiple Choice

A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,000.The entry to record this transaction would include:

• A)A debit to Common Stock for $12,000.
• B)A debit to Land for $12,000.
• C)A credit to Land for $12,000.
• D)A credit to Paid-in Capital in Excess of Par Value,Common Stock for $72,000.
• E)A credit to Common Stock for $84,000.

Understand the concept of social roles and how they are formally recognized and sanctioned within societies.

Recognize the dynamics of power within family structures and the impact of individual conditions on family power dynamics.

Comprehend the significance of worldviews in shaping relationships within the micro, mezzo, and macro social contexts.

Grasp the importance and method of family assessments within the family systems framework.

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Definitions:

Tobacco Growers

Farmers and agricultural workers who specialize in cultivating tobacco, a crop used primarily for smoking, chewing, snuff, and for the manufacture of nicotine products.

Backcountry Farmers

Individuals farming in remote, rural areas, often with limited resources and technology, primarily for subsistence in the 18th and 19th centuries.

Continental Association

An agreement adopted by the First Continental Congress in 1774 to halt trade with Great Britain as a protest against taxation without representation.

Nonimportation

An agreement or policy to not import goods from a particular source, often used as a form of economic protest or sanction.