The Entry to Record the Issuance of 1,000 Shares of $10

question 17

Multiple Choice

The entry to record the issuance of 1,000 shares of $10 par-value common stock for $14 a share consists of a debit to Cash for $14,000 and a credit to Common Stock for

• A) $14,000.
• B) $10,000 and a credit to Gain on Sale of Common Stock for $4,000.
• C) $10,000 and a credit to Paid-in Capital in Excess of Par Value-Common Stock for $4,000.
• D) $10,000 and a credit to Treasury Stock for $4,000.

---

Definitions:

Senate

One of the two chambers of the legislature in many countries, known for its deliberative function, often representing regions or states.

Nurse Practice Acts

Sets of laws established in each state in the US that define the scope of nursing practice and provide for the regulation of the profession by a state board of nursing.

Scope of Practice

The bounds defined by law and professional standards within which a professional can practice and perform services.

Disciplinary Action

Measures taken by an authority or organization to correct or penalize misconduct or non-adherence to rules and policies.