On december 2, coley corp. acquired 1,400 shares of its $3 par value common stock for $24 each. on december 20, coley corp. resold 1,000 shares for $10 each. which of the following is correct regarding the journal entry for the resold shares? a. credit treasury stock $5,000b. credit treasury stock $12,000c. credit additional paid in capital $3,000d. debit cash $9,000
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Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?
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