Organization Expenses Dr 7,500
Cash 7,500
June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000
June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000
Answer:
The contract would be described as <em>International Contract.</em>
Explanation:
<em>International Contracts: </em>International contracts refers to a legally binding agreement between parties based in different countries, in which they are obligated to do or not do certain things. International contracts may be written in a formal way such as the example of Frank contracting an Indian television provider.
Consequently, Frank and the Indian television provider having entered into a contract, are governed by international contract law unless they agree to abide by the laws of one of the US and India.
Moreover, <em>International sales contracts </em>are governed by the <em>United Nations Convention on Contracts for the International Sale of Goods (CISG) from 1980.</em>
Answer:
See below
Explanation:
Maurice and Sons
Statement of stockholder's equity at the end of the year (December 31)
Particulars Common stock
Retained earnings Total
Beginning
Balance $16,300
$2,200. $18,500
Net income
$3,410. $3,410
Dividend paid
-$1,550. -$1,550
Additional common
Stock $5,800. $5,800
Total
$4,060. $22,100. $26,160
Answer:
D. The Fed decreases the discount rate relative to the federal funds rate.
Explanation:
The discount rate is the interest rate charged by the Central bank when commercial banks borrows funds from it.
When the discount rate is lowered, excess reserves increase and money supply increases.
The reserve requirement is the amount of deposits of commercial banks that should be kept as reserves. The higher the reserve requirement, the lower the money supply.
If banks hold more excess reserves, money supply falls.
An open market sale decreases money supply while an open market purchase increase money supply.
I hope my answer helps you.
