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When recording the conversion of preferred stock into common stock, if the total contributed capital eliminated in regard to the preferred stock is less than the common stock par value, the difference is debited to Question 20 Which of the following represents shares of stock that will be issued upon completion of an installment purchase contract? Question 21 Common stock issued to employees through the exercise of stock warrants under a stock option plan that is classified as a noncompensatory stock option plan is recorded by the corporation at the Question 22 Which set of accounting principles directly uses the term "reserve"? Question 23 What account should be debited when stock issuance costs are associated with the initial issuance of stock at incorporation? Question 24 A corporation is a legal entity Question 25 Preferred stockholders share with common stockholders in any "extra" dividends when the preferred stock is ACC 499 Midterm Part 1 (Set 2) Question 1 Minimum lease payments do not include Question 2 A direct financing lease differs from a sales-type lease in that Question 3 When a lessee makes periodic cash payments for a capital lease, which of the following accounts is increased? Question 4 Executory costs Question 5

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