Answer:
June 30, repurchase of 100 shares:
Dr Treasury stock 4,000
Cr Cash 4,000
Explanation:
The other journal entries should be as follows
July 20, resale of 50 shares:
Dr Cash 2,300
Cr Treasury stock 2,000
Cr Additional paid in capital 300
August 1, resale of 20 shares:
Dr Cash 760
Dr Additional paid in capital 40
Cr Treasury stock 800
I think the correct answer for this would be enchancement
Colorado not even kidding
Answer:
The correct answer is B. Accounting firms are prohibited from providing many types of consulting services to the companies they audit.
Explanation:
The main reason for this policy is that it does not allow conflicts of interest to arise that eventually produce widely known cases of fraud, such as those presented at the Enron and Worldcom companies.
The Enron case broke out in the U.S. when that energy giant announced what was once the biggest bankruptcy in the history of the country, with a debt of 31,000 million dollars, something overcome a few months later by the collapse of another colossus, WorldCom.
In June 2002 WorldCom, the second US telephone. and of the world, he admitted that he had lied in his accounting books for almost 4,000 million dollars and his actions - which shortly before touched his maximum of 16 dollars - collapsed to 20 cents. His bankruptcy exceeded Enron's: $ 35 billion of liabilities.
