A Corporation Received a Subscription for 1,000 Shares of 10

question 74

Multiple Choice

A corporation received a subscription for 1,000 shares of 10 percent, $100 par-value preferred stock at $103 a share. The entry to record this transaction consists of a debit to Subscriptions Receivable-Preferred for $103,000 and a credit to:

• A)Preferred Stock for $100,000 and a credit to Retained Earnings for $3,000.
• B)Preferred Stock Subscribed for $100,300.
• C)Preferred Stock Subscribed for $100,000 and a credit to Paid-in Capital in Excess of Par Value-Preferred Stock for $3,000.
• D)Preferred Stock Subscribed for $100,000 and a credit to Gain on Sale of Preferred Stock for
• $3,000.

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Definitions:

F-ratio

A statistic used in ANOVA tests to compare the variability between group means to the variability within groups.

Participants

Individuals who take part in a study or experiment, providing data for analysis.

Groups

Collections of subjects, items, or categories that are studied in research or statistical analyses.

One-way ANOVA

A statistical test used to determine if there are statistically significant differences between the means of three or more independent groups based on one variable.