12 BNP Corp. issues 4.000 shares with a $10 par value at $16 per share. When the transaction is recorded, accounts credited are

Select one:

a Share Capital $24.000 and Additional Paid-in Capital $40.000.

b Share Capital $40.000 and Additional Paid-in Capital $24.000.

c Share Capital $64.000.

d Share Capital $40.000 and Retained Earnings $24.000.

14 If five years rent paid in advance, which one is not true at the time of payment?

Select one:

a Second year rent will be recorded to prepaid expenses (LT)

b Third year rent will be recorded to prepaid expenses (LT)

c Five years rent will be recorded to prepaid expenses (LT)

d First year rent will be recorded to prepaid expenses (ST)