If a Corporation Issues 5000 Shares of $5 Par Value

question 18

Multiple Choice

If a corporation issues 5000 shares of $5 par value common stock for $85,000,the journal entry would include a credit to:

• A)Common Stock for $85,000.
• B)Paid-in Capital in Excess of Par-Common for $85,000.
• C)Common Stock for $60,000.
• D)Paid-in Capital in Excess of Par-Common for $60,000.

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Definitions:

Public Employee Unions

Labor organizations representing the interests of workers employed by government agencies, focusing on negotiation of wages, benefits, and working conditions.

Wages and Pensions

Wages and pensions are forms of compensation; wages are paid for employment, while pensions are long-term payments made after retirement as financial security.

Lobbyists

Individuals or groups who attempt to influence lawmakers in favor of or against specific legislation or policies.

Interest Groups

Interest groups are organized groups of people who come together to pursue common interests and influence public policy.