A Corporation Issued 300 Shares of Its $5 Par Value

question 36

Multiple Choice

A corporation issued 300 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 $1,500 debit to Organization Expenses.
• C)A $300 credit to Contributed 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:

Xanax

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A health professional who uses physical interventions and medications to treat psychological disorders, often with a focus on biological factors.

ECT

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