Use the Following Information to Answer the Question Below

question 179

Multiple Choice

Use the following information to answer the question below. When Langston Corporation was formed on January 1,20x5,the corporate charter provided for 100,000 shares of $10 par value common stock.The following transactions were among those engaged in by the corporation during its first month of operation:
1) The corporation issued 400 shares of stock to its lawyer in full payment of the $10,000 bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency.
2) The company issued 16,000 shares of stock at a price of $50 per share.
3) The company issued 14,000 shares of stock in exchange for equipment that had a fair market value of $320,000.

-The entry to record transaction 2 is

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Definitions:

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Matrix Structure

An organizational design that combines two or more types of structures, typically functional and product-based, to leverage the advantages of both.

Functional Manager

is a manager who has authority over a specific department or unit within an organization, specializing in a particular function such as marketing or finance.

Product Manager

A role responsible for the strategy, roadmap, and feature definition for a product or product line, often acting as a liaison between various teams.