Rules protecting private property are some of the most important rules in a free market system, because people need to own resources or assets in order to make free choices.
From the computation done, there'll be a debit to retained earnings for 239400.
The retained earnings will be:
= percentage of completion (1 - Tax rate)
Based on the values we've, this will be:
Retained Earnings = 399000 (1 - 40%)
Retained Earnings = = 399000 × 0.6
Retained Earnings = 239400
Therefore, there'll be a debit to retained earnings for 239400.
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In order for you to find out if Amy will be a valuable new business contact, you need to ask her questions about her business and tell her what you need.
Answer:
a. $20.00
Explanation:
Given that
Common Stock = $150,000
Additional Paid-in Capital = $850,000
Par Value per share = $3
So,
Number of shares issued = Common Stock ÷ Par Value per share
= $150,000 ÷ $3
= 50,000
Now
Total Common Stock Equity = Common Stock + Additional Paid-in Capital
= $150,000 + $850,000
= $1,000,000
So,
Average Issue Price per share = Total Common Stock Equity ÷ Number of shares issued
= $1,000,000 ÷ 50,000
= $20.00
The promise made to Belden by Apps Inc. to give stock options is unenforceable.
<h3>Enforceable and Unenforceable Contracts</h3>
For a contract to be enforceable, few conditions are required to be met. They are:
- Written or Oral Agreement
- Proper Details
- Offer and Acceptance
- Consideration
When the above conditions are met then the contract is legally enforceable.
However, if the contract is based on an illusory promise or a promise made on a task that is already performed in the past then this type of contract is not enforceable.
As such in this case, the promise is being made for a job Belden has already designed. Therefore, this promise is unenforceable.
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