When a company issues 33,000 shares of $4 par value common stock for $40 per share, the journal entry for this issuance would

Debit  Cash or Bank  Account       $1,320,000

                    Credit Share Capital Account        $132,000

                    Credit Share Premium Account     $1,188,000

Explanation:

The journal entry to record issue of common stock for more than its par value will be as follows:

Debit  Cash or Bank  Account

              (33,000 shares × $40 per share)                   $1,320,000

Credit  Share Capital Account  

               (33,000 shares × $4 par value per share)            $132,000

Credit  Share Premium Account

               (33,000 shares × ($40 - $4)per share)                  $1,188,000

Share capital account is always credited for issuance of shares at par value and the difference between par value and issuance value is taken to the share premium account. Here, the company issued its shares at $36 per share premium.

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.

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