If smart company issues 1,000 shares of $5 par value common stock for $90,000, the account

a. cash will be debited for $95,000.
b. common stock will be credited for $90,000.
c. paid-in capital in excess of par value will be credited for $85,000.
d. paid-in capital in excess of par value will be credited for $5,000.

wave corporation began the current year with a retained earnings balance of $25,000. during the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $5,000 on equipment. also, during the current year the company earned net income of $15,000 and declared cash dividends of $5,000. compute the year-end retained earnings balance.

a. $40,000.
b. $30,000.
c. $39,000.
d. $35,000.

which of the following statements is not true about a 4-for-1 split?

a. a stockholder with ten shares before the split owns forty shares after the split.
b. par value per share is reduced to one-fourth of what it was before the split.
c. the market price will probably decrease.
d. total contributed capital increases.

Richardson hired j. c. flood company, a plumbing contractor, to correct a stoppage in the sewer line of her house. the plumbing company's 'snake' device, used to clear the line leading to the main sewer, became caught in the underground line. to release it, the company excavated a portion of the sewer line in richardson's backyard. in the process, the company discovered numerous leaks in a rusty, defective water pipe that ran parallel with the sewer line. to meet public regulations, the water pipe, of a type no longer approved for such service, had to be replaced either then or later, when the yard would have to be excavated again. the plumbing company proceeded to repair the water pipe. though richardson inspected the company's work daily and did not express any objection to the extra work involved in replacing the water pipe, she refused to pay any part of the total bill after the company completed the entire operation. j. c. flood company then sued richardson for the costs of labor and material it had furnished. (c) for what, if anything, should richardson be liable? explain."

To : of $25 up to 35 2 35 up to 45 5 45 up to 55 7 55 up to 65 20 65 up to 75 16 is$25 up to $35 ?

What is the sequence of events that could lead to trade surplus