Which of the Following Would Be Included in the Entry

question 109

Multiple Choice

Which of the following would be included in the entry to record the issuance of 5,000 shares of $10 par value common stock at $13 per share cash?

• A)Cash would be debited for $65,000.
• B)Common Stock would be debited for $50,000.
• C)Common Stock would be credited for $65,000.
• D)Paid-In Capital in Excess of Par-Common would be debited for $15,000.

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Definitions:

Delay Gratification

The ability to resist the temptation for an immediate reward and wait for a later, often larger or more valuable, reward.

Incremental Theorists

Individuals who believe that abilities and intelligence can be developed through effort and persistence, in contrast to the belief that such traits are fixed.

Entity Theorists

Individuals who believe that personal qualities, such as intelligence and character, are fixed and cannot change significantly over time.

Delay Gratification

The skill to forgo an immediate pleasure to receive a benefit in the future.