Bruce told Adam that he was selling his house in Syracuse, New York. Adam sent Bruce an e-mail containing an offer of $300,000 for the house. Bruce responded via e-mail that he wanted $315,000 for the house. After further e-mails, the parties finally agreed on a sale with a price of $310,000. A series of e-mails contained the terms of the sale, and all included a salutation containing their typewritten names. However, Bruce later decided to sell the house to Marty for $325,000. Adam sued Bruce, claiming that Bruce breached their contract for the sale of the house. Most likely, Adam will:
Answer: Win, because the essential terms of the contract were set forth in the signed e-mails.
Explanation:
Based on the information given in the scenario, Adam will win because the essential terms of the contract were set forth in the signed e-mails.
In this situation, Bruce told Adam that he was selling his house and they both negotiated and agreed agreed on a sales price of $310,000 and there were series of e-mails that indicates the terms of the sale, and all included a salutation containing their typewritten names.
Therefore, based on the above reason, the fact that Bruce sold the house to Marty is a breach of contract and Adam will likely win if he sued Bruce.
Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a permanent record for the Cost of Goods Sold account. monitor costs incurred to date and to predict and control costs for each job. provide a subsidiary ledger for the Finished Goods Inventory account. provide a subsidiary ledger for the Raw Materials Inventory account.
Answer: • provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
Explanation:
Job cost sheet refers to the document that is used for the recording of the manufacturing costs and it is used as a subsidiary ledger for the work in process account due to the fact that it contains every details about the job in process.
From the options given, the job cost sheets can be used to:
• provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
What is the intent of a Pigouvian​ tax? A. To encourage producers of a negative externality to increase production to the socially optimal level. B. To eliminate the force of the invisible hand in market transactions. C. To mandate by government fiat the reduction of production to the socially optimal level. D. To induce producers of a negative externality to reduce production to the socially optimal level.
Answer:
D
Explanation:
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
Coase theorem has been proposed as a solution to externality. According to this theory, when there are conflicting property rights, bargaining between parties involved can lead to an efficient outcome only if the bargaining cost is low
Another solution to negative externality is through the activities of charities. Charities can raise donations to limit or regulate the activities of firms that constitutes a negative externality.
Barto Company provides this information for the month ended October 31, 2017: sales on credit $300,000, cash sales $150,000, sales discounts $5,000, and sales returns and allowances $19,000. Prepare the sales section of the income statement based on this information. Only this part: Explain where each of these items would appear on a multiple-step income statement: gain on disposal of plant assets, cost of goods sold, depreciation expense, and sales returns and allowances.
Answer:
The Multi-step income statement is attached, Please find it
Explanation:
The multi-step income statement is attached with this answer please find it.
Gain On Disposal will appear in the other income section of the multi-step income statement
Cost of goods sold will appear in the cost of goods sold section of the multi-step income statement
Depreciation expense will appear in the operating expense section of the multi-step income statement
Sales returns and allowances will appear in the sales / net sales section of the multi-step income statement
Greenbaum Inc. sells a new product with a 2-year warranty. The company estimates that during the two years, the costs and related probabilities are: Year 1: $20,000 (40%) and $30,000 (60%); Year 2: $30,000 (70%); $20,000 (30%).The company's effective interest rate is 5%. Calculate the estimated warranty liability using the expected cash flow method.
Answer:
$49,252
Explanation:
Calculation to the estimated warranty liability using the expected cash flow method.
Estimated warranty liability =[($20,000 x .4)+($30,000 x .6) x 0.95238]+ [($30,000 x .7)+($20,000x .3) x 0.90703]
Estimated warranty liability =[($8,000+$18,000)×0.95238]+[($21,000+$6,000)×0.90703
Estimated warranty liability =($26,000×0.95238)+($27,000×0.90703)
Estimated warranty liability =$24,762+$24,490
Estimated warranty liability =$49,252
Therefore the estimated warranty liability using the expected cash flow method is $49,252
4. When Jenna confided in Lew and Al that she, too was concerned about adding additional risk, Lew suggested that they explore the possibility of one of the newest forms of business ownership, a(n) ____________, which has very flexible ownership rules and would give them more choices in how the company's earnings are taxed while still protecting all owners from high levels of risk. Group of answer choices
Answer:
limited liability company
Explanation:
A limited liability company (LLC) can be regarded as a business structure that is very common in the United States, these business structure can be regarded as a one in which the owners can not be regarded as been personally liable for debts as well as the liabilities of the company. Limited liability companies can be regarded as hybrid entities which is the combination of the features of corporation s well as partnership
Suppose that the market for haircuts in a community is a perfectly competitive constant-cost industry and that the market is initially in long-run equilibrium. Subsequently, an increase in population increases the demand for haircuts. In the long run, we expect that: Question 7 options: a) firms will leave the market, driving the price of haircuts up and the profits of individual firms up. b) more firms will enter the market, driving the price of haircuts up and the profits of individual firms back down to zero. c) firms will leave the market, driving the price of haircuts up and the profits of individual firms back down to zero. d) more firms will enter the market, driving the price of haircuts down and the profits of individual firms back down to zero.
Answer:
d) more firms will enter the market, driving the price of haircuts down and the profits of individual firms back down to zero.
Explanation:
In the case when the demand is increased, the price of haircuts would also increased and due to this the firm could earn positive economic profit. And for earning the economic profit in a positive way, the no of firm should be rised that increased the supply so automatically the prices are decreasing
Therefore the above option should be the answer
A print cartridge company sent a letter to a business office offering to supply a free premium printer if the business office would agree to purchase all the print cartridges the office would need from the print cartridge company. This letter arrived in the hands of the business owner on the same day the office printer failed. The business office had experienced a slow month and the business owner was trying to decide whether to pay the office rent for the month or fix the printer. Based on the offer, the owner paid the rent. A week after she put the rent check in the mail, the owner received a second letter from the print cartridge company indicating that the printer program was being canceled due to a lack of printers. The next day, before she read the second letter, the owner mailed her acceptance letter to the print cartridge company. The print cartridge company refused to supply the business owner with a printer. If the business owner brings a breach of contract action against the print cartridge company, how should the court rule
Answer:
B. For the print cartridge company, because its revocation latter was received by the business owner before she dispatched the acceptance letter.
Explanation:
The print cartridge company had issue a business offer to customers for a free premium printers if they buy cartridges from them. The print cartridge company should have communicated that this is limited time offer or offer is valid till stock lasts. The company can still have option to revoke its offer but it should communicate to all its customers whom they have sent this offer. The business owner has received mail before she had provided the acceptance.
Vaughn Manufacturing uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $421,400 at the end of the year, and the allowance for doubtful accounts has a credit balance of $3,027. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $839 instead of a credit balance of $3,027, prepare the adjusting journal entry for bad debt expense.
Answer:The adjusting journal entry will be
a)Debit Bad debts expense $9,615
Credit Allowance for doubtful accounts $9,615
b))Debit Bad debts expense $13,481
Credit Allowance for doubtful accounts $13,481
Explanation:
Estimated uncollectible= $421,400 × 3% = $12,642
Allowance for doubtful accounts with a credit balance of $3,027
Allowance for Bad debts expense = $12,642 - $3,027= $9,615
Account titles and explanation Debit Credit
Bad debts expense $9,615
Allowance for doubtful accounts $9,615
When the Allowance for doubtful accounts has a debit balance of $839
$12,642+$839= $13,481
Account titles and explanation Debit Credit
Bad debts expense $13,481
Allowance for doubtful accounts $13,481
Suppose that Sandy owns a farm in North Carolina and Pat owns a farm in lowa, and Sandy's farm is generally more productive than Pan's. If both Sandy and Pat sell their com in the same market Sandy should produce the output at the marginal cost that is
A. equal to the marginal cost of Pars production
B. greater than the marginal cost of Pat's production
C. less than the marginal cost of Pat's production
D. equal to total revenue in the market
Answer:
A. equal to the marginal cost of Pars production
Explanation:
In the case when both sandy and pat sold their come in the similar market so here sandy should generated the result at the marginal cost that should be equivalent to the pat marginal cost of production
So as per the given situation, the option a is correct
And, the rest of the solutions are considered to be wrong
To combat rising insurance rates, a state formed a state-owned insurance company that operated exclusively within the state. The company provided insurance on the basis of premiums calculated according to a schedule of fees. Under the schedule, premiums for residents of a particular city were 25% higher than the premiums for any other municipality in the state. Forty percent of that city's residents were of Mexican descent compared with a state-wide Mexican-American population of approximately 15%. A Mexican-American citizen living in the city brings suit, alleging that the state insurance company's rate structure violates the Equal Protection Clause. Will the citizen's suit prevail
Answer:
No, Unless citizens show that Mexican-American citizens pay higher rates than similarly situated non Mexican-American citizens of that city.
Explanation:
Equal protection clause prohibits states from treating similarly situated people in dissimilar manner without any adequate justification. The insurance premium rates differ for Mexican and American citizens. The residents of the city get 25% while other state residents receive 15%. A citizen may file successful law suit if he is able to prove that Mexican Americans get higher pay rates than non Mexican Americans.
Higher uncertainty of losses forces property-casualty firms to _________. A. invest in more short-term assets than life insurance firms. B. invest in more long-term assets than life insurance firms. C. hold a lower percentage of capital and reserves than life insurance firms. D. invest in riskier equity securities than life insurance firms. E. conduct more separate accounts business than life insurance firms.
The unemployment rate may underestimate the true extent of unemployment if: Question 26 options: many part-time employees would like to work fulltime, but are unable to get the additional work. employees increase the number of hours they work overtime. there are a large number of people working in the underground economy. people are pretending to look for work so that they can continue receiving unemployment benefits.
Answer:
there are a large number of people working in the underground economy.
Explanation:
The unemployment rate is the rate of people in the labour force that is without a job but they are actively looking for employment
Types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
If a large number of people are working underground, they would not be counted as part of the labour force and so the labour force would be smaller. This understates unemployment rate
A paper manufacturer is forced to make staff cutbacks because of declining profits. It decides to cut back each employee's hours and pay by one-half day per week rather than laying off two people. Senior managers believe that by allowing all their employees to keep their jobs, they are producing the greatest good for the greatest number of people. Which rule for ethical decision making does this example show
Answer:
Utilitarian
Explanation:
Utilitarianism is a morality theory that advocated the actions in order to foster the happiness and the actions that result harm or unhappiness could be opposed. It is an action that could be right so this would create a happiness for the larger no of people as a group or society as a whole
So as per the given situation, it is a utilitarian theory
On January 1, 2013, Warfield Co. purchased a $600,000 machine, with a five-year useful life and no salvage value. The machine was depreciated by an accelerated method for book and tax purposes. The machine's carrying amount was $240,000 on December 31, 2014. On January 1, 2015, Warfield changed the depreciation method prospectively to the straight-line method for financial-statement purposes. Warfield can justify the change. Warfield's income tax rate is 30%. On December 31, 2015, what amount should Warfield report as deferred income tax
Answer:
$0
Explanation:
In the case when the depreciation method is changed so it should be treated propectively. The past year depreciation amount remains the same. So the starting year of change having no difference should be produced but the beginning to the closing year of change the deferred tax liability should be recorded the difference occured in the future that lies between the book and tax depreciation
So, it should be zero
a. Serving as a team player in a company where independent thinking is a top priority b. An entry-level position in the marketing area with a possibility of promotion c. A challenging job at an organization that raises the bar in data security d. An accounting position in which 10 years' experience and a license as a CPA will allow me to assist your company with payroll, employee benefits, and governmental tax and records reporting
Answer: d. An accounting position in which 10 years' experience and a license as a CPA will allow me to assist your company with payroll, employee benefits, and governmental tax and records reporting.
Explanation:
A career objective in a resume should include the person's skills, qualifications and work experience as this would convince the people doing the hiring that the person can do a good job based on their track record.
The above sentence does all that by stating that the person has a qualification as a CPA, 10 years work experience and skills to engage in payroll and employee benefits amongst others. It therefore satisfies the requirements.
which one of the following is not a financial intermediary?
A) Security dealers
B) Insurance companies
C) Real estate investment trusts
D) Pension funds
A. Security Dealers are not a financial intermediary.
Select all that apply Job cost sheets can be used to: (Check all that apply.) Multiple select question. provide a subsidiary ledger for the Raw Materials Inventory account. provide a subsidiary ledger for the Finished Goods Inventory account. monitor costs incurred to date and to predict and control costs for each job. provide a permanent record for the Cost of Goods Sold account.
Answer:
provide a subsidiary ledger for the finished goods inventory account
monitor costs incurred to date and to predict and control costs for each job
provide a permanent record for the cost of goods sold account
Explanation:
job cost sheet is a recording of all expenses that should be related to the job segment or an individual job.
Also it give the subsidiary ledger for the finished goods. It checks the cost that should be incurred till date and to predict and control the cost. Moreover, it gives the permanenet record for the cost of goods sold
These 3 above statements should be considered
Media Corp. is an accrual-basis, calendar-year C corporation. Its reported book income included $6,000 in municipal bond interest income. Its expenses included $1,500 of interest incurred on indebtedness used to carry municipal bonds and $8,000 in advertising expense. What is Media's net M-1 adjustment on its Form 1120, U.S. Corporation Income Tax Return, to reconcile to its taxable income
Answer:
-$4,500
Explanation:
The computation of the Media's net M-1 adjustment is given below:
= Expense included in interest that incurred on indebtness - book income reported
= $1,500 - $6,000
= -$4,500
Hence, the Media's net M-1 adjustment is -$4,500
The same should be considered and relevant
Therefore we ignored $8,000
Kelly owns a massage studio and is offering free 15 minute massages to the participants of a popular 5K race event. This is an example of...
A. co-branding
B. bartering
C. Co-sponsoring
D. advertising (not the answer)
The condition when Kelly offers free 15 minute massage to the participants of a popular 5K race event is an example of co-branding.
What is co-branding?A type of marketing strategy in which two or more brands are being promoted in a single event or a campaign with a joint agreement, is known as a marketing method of co-branding.
Hence, option A states about co-branding.
Learn more about co-branding here:
https://brainly.com/question/12436812
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Abe receives a check from Bea for fixing Bea's car. Bea's bank is Bank B. Abe deposits the check into his bank, Bank A. Select all the statements that correct describe the check-clearing process. Multiple select question. Bank A increases its reserves at the Federal Reserve Bank by more than the amount of the check. Bank A increases Abe's checkable deposits by the amount of the check. Total reserves in the banking system remain unchanged. Total reserves in the banking system increase.
Answer:
Bank A increases its reserves at the Federal Reserve Bank by more than the amount of the check.
Bank A increases Abe's checkable deposits by the amount of the check.
Total reserves in the banking system remain unchanged.
Explanation:
In the case when Abe received the check from bea in order to fixed out the bea car so here Bank A should increased the reserve that should be exceed the check amount
Also it increased the abe checkable deposit via the amount check and the total reserves should remain the same
These should be considered
McDonnell-Myer Corporation reported net income of $741 million. The company had 544 million common shares outstanding at January 1 and sold 36 million shares on February 28. As part of an annual share repurchase plan, 6 million shares were retired on April 30 for $47 per share. Calculate McDonnell-Myer's earnings per share for the year. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
the earning per share is $1.43 per share
Explanation:
The computation of the earning per share is shown below:
= Net income ÷ weighted no of shares
= $741 million ÷ (544 million shares - 36 million × 10 ÷ 12 + 6 million × 8 ÷ 12)
= $741 million ÷ (544 - 30 + 4)
= $1.43 per share
Hence, the earning per share is $1.43 per share
The same should be considered and relevant
Please what is the answer??
I need help
Answer:
10 dollars
Explanation:
what benefit dose a corporation have that a partnership and sole proprietorship do not
Answer:
An unlimited life spam
Explanation:
If your firm has an existence independent, it will continue to exist indefinitely unless it is legally disbanded. Limited liability prevents you from being held personally liable for their company's obligations or legal judgements. Shareholders were protected from legal responsibilities and debts by corporate entities.
"If a loan of P dollars, at an interest rate of r percent per year compounded monthly, is payable in n monthly installments of m dollars each, then m is determined by the formula \small m=\frac{\frac{rP}{1,200}}{1-\left (1+\frac{r}{1,200}\right)^{-n}}. John and Sue took out loans whose monthly installments were determined using the formula above. Both loans had the same interest rate and the same number of monthly installments. John's monthly installment was what percent of Sue's monthly installment? (1) The amount of Sue's loan was 4 times the amount of John's loan. (2) Sue's monthly installment was 4 times John's monthly installment. "
Answer:
John's monthly installment was 25% of Sue's monthly installment.
Explanation:
The problem gives us the following data:
Sue's monthly installment was 4 times John's monthly installment.
if we wrote this as an equation we would get that:
[tex]m_{S}=4m_{J}[/tex]
where:
[tex]m_{S}[/tex]= Sue's monthly installment
[tex]m_{J}[/tex]= John's monthly installment
in order to find what percent of Johns monthly installment represented regarding Sue's monthly installment, we would need to find the following ratio.
[tex]percent=\frac{m_{J}}{m_{S}}*100\percent[/tex]
Therefore:
[tex]percent=\frac{m_{J}}{4m_{J}}*100\percent[/tex]
or:
percent=25%
If you wanted to use the given formula, you could also do that. Notice that the formula tells us that the monthly installments are proportional to the loan in dollars, so we get the following:
[tex]m=\frac{\frac{rP}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}[/tex]
so we can use it to build our ration:
[tex]\frac{m_{J}}{m_{S}}*100\percent=\frac{\frac{\frac{rP_{J}}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}}{\frac{\frac{rP_{S}}{1,200}}{(1-(1+\frac{r}{1200})^{-n}}}*100\percent[/tex]
Since most of the data remains constant and the monthly installments are proportional to the original amount of the loan, that ratio can be simplified to:
[tex]\frac{m_{J}}{m_{S}}*100\percent=\frac{P_{J}}{P_{S}}*100\percent [/tex]
So, the problem tells us that the amount of Sue's loan was 4 times the amount of John's loan, so:
[tex]P_{S}=4P_{J}[/tex]
so:
[tex]percent=\frac{P_{J}}{4P_{J}}*100\percent [/tex]
or:
percent=25%
According to the principle of comparative advantage, Group of answer choices countries should specialize in the production of goods for which they use more resources than their trading partners countries with a comparative advantage in the production of every good need not specialize countries should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners countries should specialize in the production of goods for which they use fewer resources than their trading partners PreviousNext
Answer:
should specialize in the production of goods for which they have a lower opportunity cost of production than their trading partners
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Country A should specialise in the production of beans and B should specialise in the production of rice
Violette is the CEO of Lafarge Advertising, based in Paris. Many distinctions exist between the different classes of people in her society. Most of the top managers in her organization, for example, come from the upper classes. This implies that French society has a high degree of
Answer:
social stratification
Explanation:
Social stratification is the way by which communities classify their citizens into socioeconomic tiers. These classifications are as a result of race, education, power, wealth, and education.
People that are at the top of the strata have more resources at their disposal and are fewer in number.
Those with less resources are at the bottom and are many.
In the give scenario many distinctions exist between the different classes of people in the society, and most of the top managers in her organization come from the upper classes.
This is an example of social stratification
Zoe, the owner of Zoe's Bakery, determines that, at her optimal level of production in the short run, P < ATC and P > AVC. In the short run, Zoe should: Group of answer choices raise the price until she has maximized her profits. continue to operate, as she is making an economic profit. continue to operate, even though she is taking an economic loss. shut down immediately, as she is taking an economic loss.
Answer: continue to operate even though she is taking an economic loss.
Explanation:
Since at Zoe's optimal level of production in the short run, the price is more than the average total cost and P > AVC, then she should continue to operate even though she is taking an economic loss.
This is because even though she's making loss as the price is less than the average total cost, since the price is greater than the average variable cost, then she should continue in operation. Assuming P < AVC, then the company should shutdown in this case as only th fixed cost is incurred.
The board of directors for TundraPro, Inc., is searching for a new CEO. The firm is in need of new direction after suffering several years of declining performance and increasingly demoralized management and employees. Under these circumstances, TundraPro would benefit from a(n): Group of answer choices internal CEO with short tenure. CEO with long tenure who has a strong sense of hubris. external CEO with a heterogeneous top management team. dual CEO/chairperson with a homogenous top management team.
Answer:
external CEO with a heterogeneous top management team
Explanation:
In simple words, the most suitable individual is someone from outside the organisation having relevant experience in management. The heterogeneity in the team will help the manager to understand the needs and desires of all the individuals that might be affected from the decisions they make.
The outside perspective will be good to see the problems that someone from inside might not be able to see. Also, the tenure should be long enough to completely impact the different corners of the organisational framework.
Fidelity Investments is selling a real estate income mutual fund for $10.94 per share. The fund charges a load of 2.5%. What is the offer price?
Answer:
The offer price is $ 11.21.
Explanation:
Given that Fidelity Investments is selling a real estate income mutual fund for $ 10.94 per share, and the fund charges a load of 2.5%, the following calculation must be performed to determine what is the offer price:
10.94 x 1.025 = X
11.2135 = X
Therefore, the offer price is $ 11.21.
