ACCOUNTING - STOCK PROBLEM

Which of the following would be included in the entry to record the issuance of 5,000 shares of $10 par value common stock at $13 per share cash? Common Stock would be debited for $50,000 Cash would be debited for S65.000 Common Stock would be credited for $65,000 Paid - In Capital in Excess of Par-Common would be debited for $15,000 The formation of a patnership firm requires a minimum of one partner three partners two partners four partners Which of the following corporate characteristics is a disadvantage of a corporation? There is no mutual agency among the stockholders and the corporation. Earnings of a corporation are taxed twice. Stockholders of a corporation have limited liability. A corporation has a continuous life. A corporation originally issued $5 par value common stock for $6 per share. Which of the following would be included in the entry to record the purchase of 300 shares of treasury stock for S10 per share? Retained Earnings would be debited for $1,500. Treasury Stock-Common would be debited for $3,000. Treasury Stock-Common would be credited for S1,800. Treasury Stock-Common would be debited for $1,500