Answer:
No adjustment in records can be made until the asset is sold.
Explanation:
This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.
Answer:
The correct answer is letter "D": are damages in excess of the plaintiff's injuries, awarded to punish the defendant.
Explanation:
Punitive Damages are penalties passed to the defendant of court cases on top of compensations they must pay to plaintiffs because of the faults they committed. The punitive damage is not provided to the plaintiffs but is imposed to punish defendants when their faults are negligent and should not be repeated.
Thus, <em>punish damages are imposed in an attempt to avoid other individuals to commit the same gross faults.</em>
I think the answer is true, but if I’m wrong sorry
Answer: The answer is c $1,080 $560
Explanation:
The journal entry will be
Dr: common stock $200 million
Dr: paid in capital $180 million
In the stockholders equity section , the treasury stock is seen as a separate line item in the stockholders equity. The treasury stock will be deducted from the total stockholders equity. The treasury stock is not a part of paid in capital nor part of the retained earning.
Therefore the balance in the paid in capital excess of par Retained Earnings is 1,080 $560
Answer:
A sudden sharp reduction in the availability of money or credit from banks and other lenders.