$ 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