$ 20,000 3- Multiple Choice Question 201 A net loss occurs if operating expenses exceed cost of goods sold .
is closed to Retained Earnings even if it would result in a debit balance .
is closed to the paid-in capital account of the stockholders ’ equity section of the balance sheet .
is not closed to Retained Earnings if it would result in a debit balance . 4- Multiple Choice Question 98
Hsu , Inc . issued 7,500 shares of stock at a stated value of $ 8 / share . The total issue of stock sold for $ 15 per share . The journal entry to record this transaction would include a
debit to Cash for $ 60,000 . credit to Common Stock for $ 60,000 . credit to Common Stock for $ 112,500 . credit to Paid-in Capital in Excess of Par for $ 112,500 . 5- Multiple Choice Question 169
The per share amount normally assigned by the board of directors to a large stock dividend is