Which of the Following Is Included in the Entry to Record

question 128

Multiple Choice

Which of the following is included in the entry to record the issuance of 5,000 shares of $8 par value common stock at $22 per share cash?

• A)Cash is debited for $110,000.
• B)Common Stock is debited for $40,000.
• C)Common Stock is credited for $110,000.
• D)Paid-In Capital in Excess of Par-Common is debited for $70,000.

---

Definitions:

General Manager

A high-ranking executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as the profit & loss (P&L) responsibility.

Job Specifications

A detailed description of the qualifications, skills, and experience required for a specific job, including duties and responsibilities.

Educational Requirements

The specified level of education or training necessary for an occupation or for admission to an institution or program.

Job Elements

The basic duties and responsibilities that make up a specific job.