The Bean Counter Corporation Received Subscriptions for 100 Shares of Its

question 36

Multiple Choice

The Bean Counter Corporation received subscriptions for 100 shares of its $10 par value common stock at $13 per share.The entry to record receipt of the subscriptions would include a:

• A)debit to Cash $1,300 and a credit to Common Stock $1,300.
• B)debit to Cash $1,300; a credit to Common Stock $1,000; and a credit to Paid-in Capital in Excess of Par $300.
• C)debit to Common Stock Subscribed $1,300 and a credit to Subscriptions Receivable-Common Stock $1,300.
• D)debit to Subscriptions Receivable-Common Stock $1,300; a credit to Common Stock Subscribed $1,000; and a credit to Paid-in Capital in Excess of Par for $300.

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Definitions:

HR Department

The division within a company responsible for managing all aspects of employee relations, including recruitment, training, payroll, and benefits administration.

Business Partner

An individual or organization that collaborates with another entity in a mutually beneficial relationship.

Change Manager

A professional responsible for overseeing and facilitating the process of organizational change, including managing resistance and ensuring smooth transitions.

Professional Responsibility

The ethical and legal duties that individuals in professional roles are expected to uphold, including competence, integrity, and respect for confidentiality.