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.

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Definitions:

Demographic Information

Data that describes the characteristics of a population or a particular segment, such as age, gender, income, and education.

Record

An individual entry in a database that typically represents a single item, person, or transaction.

Compacting

The process of optimizing database efficiency by reducing the file size and reorganizing data to eliminate unused space.

Backing Up

The process of creating a copy of data stored on a computer or system to prevent loss of information in case of a hardware failure, data corruption, or other disasters.