Bramble Corporation issues 11200 shares of $50 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $784000 and a credit or credits to: A. Preferred Stock for $224000 and Paid-in Capital from Preferred Stock for $560000.
B. Preferred Stock for $560000 and Paid-in Capital in Excess of Par-Preferred Stock for $224000.
C. Preferred Stock for $784000.
D. Paid-in Capital from Preferred Stock for $784000.

answer; lags, push the econ below the natural level of output;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.