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.
I would say that Dan should learn how to type with a keyboard instead of by hand as I know that with practice one can learn to type quite fast and with a keyboard one doesn't need to worry about writing neatly or legibly since all the letters and numbers are pre-determined and always the same.
Answer:
C) performance of the contract is commercially impracticable.
Explanation:
Contract law contemplates certain situations where performing the contract is either difficult or impossible and therefore the party is not liable for breaching the contract.
Commercial impracticability applies to contracts where the performance of at least one party is impracticable and cannot be accomplished.
In this case, Quinn cannot perform his duty since the price of scrap steel increased beyond any reasonable price contemplated in the contract. Since Quinn is not responsible for setting the price of scrap steel, he is not liable for breaching the contract.
B it will show that he is actually in need of a break instead of him saying that he is tiered and getting a break
Answer:
The reserve ratio - The Federal Reserve Bank increases the share of total deposits that banks can legally loan.
The reserve ratio is the percentage of deposits that banks have to keep as reserve and cannot loan. If the fed lowers the reserve ration, it means that banks can loan a higher share of the total deposits that they store.
Open-market operation - The European Central Bank purchases bonds from commercial banks.
In Open-market operations, central banks purchase bonds and other securities in the open market in order to lower the interest rate, or they sell securities in order to raise the interest rate.
The term auction facility - The Federal Reserve requests secret bids from banks for the right to borrow money.
The term auction facility is a program in which the Federal Reserve bids loans under special conditions to bidding banks.
The discount rate - The central bank decreases the rate that it charges to commercial banks for loans.
The discount rate is the rate at which central banks loan money to commercial banks.
