Thomas Robert Malthus is the economist who supported it the most
Answer:
The correct option is A,Debit Land and Building, $130,000; Credit Common Stock, $5,000; Credit Paid-in Capital in Excess of Par Value, Common Stock, $125,000.
Explanation:
The sum of the two market values of both land and building is $130,000($100,000+$30,000),which would be debited to land and building account to show that the asset has increased due to new acquisition.
In the common stock account the par value of the shares which is $5,000($1*5000) would be credited to it.
The difference between the market value of assets acquired and the common stock amount which is $125,000($130,000-$5,000) would be credited to paid in capital in excess of par account.
Answer:
$600,000
Explanation:
The computation of the amount to be recorded for the building is shown below:
But first we have to determine the total acquisition cost of land which is as follows
= Cash + mortgage
= $750,000 + $250,000
= $1,000,000
Now it is mentioned that 60% is allocated to the building
So, it would be
= $1,000,000 × 60%
= $600,000
Answer:
c. shoe leather cost.
Explanation:
During times of high inflation, interest rates usually go up. Money in the banks earns higher interest compared to when inflation is low. When the inflation rate is high, the prices of goods and services increase rapidly, resulting in a reduction in currency's purchasing power.
Individuals and firms opt to keep as little cash in hand as possible. Holding a lot of cash at such times is not prudent as banks offer high-interest rates. Keeping cash become costly due to currency depreciation. As firms and households keep most of the money in banks, they incur a lot of transport costs and time going to banks to withdraw cash for normal expenses. The time and transport costs incurred are referred to as shoe leather costs.
Answer:
The expertise acquired by the employees in the company.
