Badger Corporation Issued 5000 Shares of Its $5 Par Value

question 136

Multiple Choice

Badger Corporation issued 5000 shares of its $5 par value common stock in payment for attorney services billed at $40,000.Badger Corporation's stock has been actively trading at $8 per share.The journal entry for this transaction would include a:

• A)debit to Legal Expense $25,000.
• B)debit to Legal Expense $40,000.
• C)credit to Common Stock $15,000.
• D)credit to Paid-in Capital in Excess of Par-Common $40,000.

Recognize the role of the hypothalamus in hunger, thirst, and other motivational states.

Understand the significance of early life experiences and genetics in determining body weight and fat cell number.

Understand the concept of Maslow's hierarchy of needs and its implications on human motivation and behavior.

Recognize and describe the basic physiological and psychological principles of emotions.

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Definitions:

Current Assets

Assets owned by a company that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle.

Gross Profit

The difference between total revenue and the cost of goods sold, before deducting any selling, administrative, or other expenses.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, salaries, and other operating expenses.

Stockholders' Equity

The residual interest in the assets of an entity that remains after deducting its liabilities.