Answer:
A. This is a change in accounting principles
B.
Dr Common stock 6
Dr Paid-in capital—excess of par 24
Dr Retained earnings 5
Cr Treasury stock 35
Explanation:
A. This is a change in accounting principle
B. Entry to reclassify treasury shares as retired shares.
General Journal
Dr Common stock 6
Dr Paid-in capital—excess of par 24
Dr Retained earnings 5
Cr Treasury stock 35
Common stock ($1 par × 6million shares retired) $6 million.
Paid-in capital—excess of par
$900 million ÷ 225 million shares = $4
$4 × 6million shares retired = $24 million.
It is RECKLESS CONDUCT. Reckless conduct refers to a practitioner's careless act which deviates significantly from the standard of care a reasonable individual would exhibit under a similar situation. Reckless conduct is a culpable offence and is punishable under the law.
Answer:
yes it does
Explanation:
It's because without capital you can't even start the business, because you wouldn't have the machines or computers and stuff that is needed for your business. So it' used to pay ongoing production of goods and services to make profit form your business
Allison Corporation acquired all of the outstanding voting stock of Mathias, Inc., on January 1, 2017, in exchange for $6,059,500 in cash. Allison intends to maintain Mathias as a wholly owned subsidiary. Both companies have December 31 fiscal year-ends. At the acquisition date, Mathias’s stockholders’ equity was $2,045,000 including retained earnings of $1,545,000
Answer:
Adam Smith;
d. and David Ricardo both supported free trade
Explanation:
A free market is a market where international trade relations is subjected minimal interference from the government. Government interference are usually in the form of tariffs, quotas and other restrictions. Adam Smith was a staunch advocate of free trade. He argued that people were ca[able of reasoning and thus should object to unreasonable government regulations on them. Using the policy of Laissez-Faire which argued that government intervention on the economy should be minimal. According to Smith, the natural laws of supply and demand should take cause to balance the market properly.
David Ricardo was also a strong advocate for free trade. He use the theory of comparative advantage to prove his point. The law of comparative advantage states that one needs when one country can produce a good or service at a lower cost than the other country, then they have comparative advantage over that country. Therefor they will produce more of that good that they have an advantage over as compared to another good or service that is more costly. This law he argued could be used in international free trade.
We can conclude that Adam Smith and David Ricardo supported the concept of free trade.
