A Company Sold 200 Shares of Common Stock with a Par

question 96

Multiple Choice

A company sold 200 shares of common stock with a par value of $5 at a price of $13 per share.What is the effect on the accounts of this transaction?

• A) Increase cash $2,600; increase retained earnings $2,600
• B) Increase cash $1,000; increase common stock $1,000
• C) Increase cash $2,600; increase common stock $1,000 and increase paid-in capital $1,600
• D) Increase cash $2,600; increase common stock $1,600 and increase paid-in capital $1,000

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Definitions:

Attitude Accessibility

The ease with which an attitude can be retrieved from memory, impacting how quickly and consistently it influences an individual's response to related objects or situations.

Implicit Attitudes

Unconscious beliefs or feelings that may influence behavior and understanding, without conscious awareness.

Simple Attitude

A basic or uncomplicated viewpoint or belief about a person, object, or issue.

Complex Attitude

An attitude that contains both positive and negative components regarding an object, person, or issue.