A Corporation Issued 100 Shares of Its $5 Par Value

question 118

Multiple Choice

A corporation issued 100 shares of its $5 par value common stock in payment of a $1,800 charge from its accountant for assistance in filing its charter with the state.The entry to record this transaction will include:

• A)A $1,800 credit to Common Stock.
• B)A $300 debit to Organization Expenses.
• C)A $1,300 credit to Paid-in Capital in Excess of Par Value,Common Stock.
• D)A $1,800 debit to Legal Expenses.
• E)A $1,800 credit to Cash.

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Definitions:

Hypodermis

The innermost and thickest layer of the skin, which consists of fat and connective tissues that house larger blood vessels and nerves, providing insulation and support to the skin.

ABCDE Rule

A guideline used for detecting skin cancer, focusing on Asymmetry, Border irregularity, Color variation, Diameter, and Evolving nature of skin lesions.

Melanoma

A serious form of skin cancer that arises from melanocytes, cells that produce the pigment melanin, which can spread to other parts of the body if not treated early.

Basal Cell Carcinoma

A type of skin cancer that arises from the basal cells, which are small, round cells found in the lower part of the epidermis. It is usually caused by long-term exposure to UV radiation from the sun.