Table 14-6
Following Is the Shareholders' Equity Section of the Balance

question 60

Multiple Choice

Table 14-6
Following is the shareholders' equity section of the balance sheet of Thomson Corporation:
$$\begin{array} { | l | r | } \hline \text { Contributed capital } & \\\hline \text { Preferred shares, } \$ 6 \text {, cumulative, } 25,000 \text { shares } & \\\hline \text { authorized, } 7,000 \text { shares issued } & \$ 700,000 \\\hline \text { Common shares, } 1,000,000 \text { shares authorized, } 500,000 & \\\hline \text { shares issued } & 2,500,000 \\\hline \text { Total contributed capital } & 3,200,000 \\\hline \text { Retained earnings } & \$ 90,000 \\\hline \text { Total shareholders' equity } & \$ 4,190,000 \\\hline\end{array}$$ The preferred shares are currently selling for $89.50 per share and the common shares are currently selling for $12.50 per share.
-Refer to Table 14-6.The entry to record the sale of 8,000 repurchased shares that cost $12.50 per share for $13.50 per share includes a:

• A) credit to retained earnings for $8,000
• B) credit to common shares for $108,000
• C) credit to common shares for $40,000
• D) credit to gain on sale of shares for $8,000

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Definitions:

Permissive

A parenting style characterized by low demands with high responsiveness, where parents are lenient and may only step in when necessary.

Influenced

Being influenced refers to having one's behavior, actions, or thoughts altered or directed by forces or opinions outside of oneself.

Authoritative Parents

A parenting style characterized by high responsiveness and high demands, balancing clear, strict guidelines with emotional support and recognition of independence.

Personality Development

The growth and development of the organized pattern of behaviors and attitudes that makes a person distinctive.