Suppose that Spain and Austria both produce oil and olives. Spain's opportunity cost of producing a crate of olives is 5 barrels of oil while Austria's opportunity cost of producing a crate of olives is 10 barrels of oil. By comparing the opportunity cost of producing olives in the two countries, you can tell that has a comparative advantage in the production of olives and has a comparative advantage in the production of oil. Suppose that Spain and Austria consider trading olives and oil with each other. Spain can gain from specialization and trade as long as it receives more than of oil for each crate of olives it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than of olives for each barrel of Oil it exports to Spain.

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

What is the correct percentage of texas teachers charged with ethics violations each year?

For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?