Badger Corporation Issued 5,000 Shares of Its $5 Par Value

question 148

Multiple Choice

Badger Corporation issued 5,000 shares of its $5 par value common stock in payment for attorney services billed at $40,000.Badger Corporation's stock has been actively trading at $8 per share.The journal entry for this transaction would include a:

• A)debit to Legal Expense $25,000.
• B)debit to Legal Expense $40,000.
• C)credit to Common Stock $15,000.
• D)credit to Common Stock $40,000.

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Definitions:

Avoidant Attachment

A type of attachment style characterized by a desire to maintain independence and emotional distance from others.

Securely Attached

A type of attachment characterized by the individual's ability to form secure, loving relationships with others.

Long Term

Refers to a period of time extending far into the future, often used in the context of planning, goals, effects, or investments.

Socio-emotional

Relating to the combination of social and emotional aspects of an individual's experience and behavior.