The correct answer is B. A debit to common stock distributed.
<em>The entry will be stock dividends debit, paid-in capital which is in excess per common credit stock, stock dividends which are being distributed.</em>
In credit entry it records distribution and declaration of stock dividend which includes the debit to the retained earnings and also a credit to the common stock.
Answer:
$165
Explanation:
The working capital of organization is the difference between the current assets and the current liabilities of the organization. It shows if a company has enough short term assets or asset that can be converted quickly to cash to settle obligations that will arise in the short term.
Working capital as at December 31, 2015
=$1,105 - $915
=$190
Working capital as at December 31, 2016
=$1,320 - $955
=$365
Change in working capital in 2016
= $365 - $190
= $165
Answer: to protect the economic freedom of all of its citizens
Explanation:
The above quote by Adam Smith was him criticizing the common practice in those days of nations trying to control the spending habits of their citizens by passing restrictive laws and limiting the importation and production of certain goods and services.
It would therefore support the U.S. policy of protecting the economic freedom of her citizens such that they may trade whatever it is that they want - so long as it is legal - without restrictions by the government.
Based on other stores, and what their prices are too
Answer:
An unrealized holding gain of $28 million in 2019.
Explanation:
At the financial year-end, the company have to reevaluate the investment to recognize the gain or loss.
If the fair value is higher than actual investment, the company gain and vice versa it lost.
In this scenario, the fair value adjustment = the valuation on 31st December – purchased value = $150 million - $132 million = $28 million.
Because this step is just an approach to record new valuation of investment, then it’s consider unrealized.
In short, Phillips Corporation should first update the fair value adjustment of $28 million on December 31 2021
