Answer:
Comet's E&P will decrease by $50,000 due to the exchange.
Explanation:
50 of Pam's shares are worth 50 x $1,000 = $50,000, since the corporation is redeeming them, it will do so by decreasing its earnings and profits (retained earnings account).
Generally when larger corporations buy back stocks (AKA treasury stocks), they will credit cash and debit treasury stocks, but since Pam's stocks are being retired, they are not going to be held as treasury stocks, therefore E&P must decrease.
It's C because 1-.15 is .85 then 1/.85 rounds to 1.18
Business Classifieds Section which has advertisements and announcements about local businesses.
By providing a means for reliable transportation, the railroads made the regular shipping of manufacturing supplies and manufactured goods in mass quantities possible.<span> As a result, the railroads laid the groundwork for the Industrial Revolution through providing a foundational need in the development of industry.</span>
