1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zhannawk [14.2K]
2 years ago
11

Larue buys an ipod for $150 and a new laptop for $1,200, and signs a one-year employment contract for a $4,800 monthly salary to

start at the beginning of the next month. The statute of frauds covers.
Business
1 answer:
docker41 [41]2 years ago
5 0

As an employee, Larue will be covered by the statute of frauds for the employment contract and the laptop purchase only.

<h3>What is a statute of fraud?</h3>

This statute is a concept that maintains that some types of contracts need to be executed in writing.

This statutse are used for contracts for the sale of land, agreements involving higher worth of goods, contracts lasting one year etc

In conclusion, in this case, Larue will be covered by the statute of frauds for the employment contract and the laptop purchase only.

Read more about statute of fraud

<em>brainly.com/question/14854791</em>

You might be interested in
On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note requir
lisov135 [29]

Answer:

1. Debit Interest Expense $7,000; debit Notes Payable $7,238; credit Cash $14,238.

Explanation:

The journal entry is shown below:

Note payable A/c Dr $7,238

Interest expense A/c Dr $7,000

  To Cash A/c $14,238

(Being the first payment on the note is recorded)

The computation of the interest expense is shown below:

= Borrowed amount × rate of interest

= $100,000 × 7%

= $7,000

And, the remaining balance left is reported in the note payable account

3 0
3 years ago
On January 1, Kirk Corporation had total assets of $864,000. During the month, the following activities occurred: Kirk Corporati
Whitepunk [10]

Answer:

The amount of total assets of Kirk Corporation at the end of the month is $ 871,400

Explanation:

Total assets at January 1 = $864,000

Equipment purchased = $ 7,400

Supplies purchased = $ 3,640

Cash paid for supplies = $ 3,640

Cost of land sold = $16,400

Cash received from Land sold = $16,400

Therefore total amount of cash out = $ 16,400 + $3,640 = $ $20,040

Total amount of cash in =  $ 7,400 + $ 3,640 + $16,400 = $27,440

Amount of total assets at the end of the month = $864,000 + $27,440 - $20,040 = $ 871,400

4 0
3 years ago
Freeman corp., a large corporation, plans to issue 45-day commercial paper with a par value of $3,000,000. freeman expects to se
fredd [130]

Answer:

The annualized cost of borrowing is 5.42%

Explanation:

The cost of borrowing is the finance charge which is the dollar amount of the loan that cost the person. Lenders usually charge what is referred to as the simple interest.

The formula to compute the same is as:

Principal  x rate x time = Interest

where

Principal amount is $3,000,000

Rate is not known

Time is 45 days, So time is number of days borrowed divided by number of days in a year

Time = 45 / 365 days

Time = 0.123

Interest = Par value - Selling Value

Interest = $3,000,000 - $2,980,000

Interest = $20,000

Putting the value above:

Rate = Interest / Principal  x Time

Rate = $20,000 / $3,000,000 x  0.123

Rate = $20,000 / $369,000

Rate = 5.42%

4 0
3 years ago
During the year, Juanita has the following income: Gift from her father to help with her student loans $8,500 Interest income on
stich3 [128]

Answer:

$565

Explanation:

First of all, the person that receives a gift does not pay taxes for it. Also, proceeds from a life insurance policy are not taxable either. Municipal bonds are not taxed by the federal government.

This means that Juanita's taxable income = $400 interests from Treasury bonds + $165 interests from savings account = $565.

6 0
3 years ago
CEO, Inc.’s budgeted data for March when 2,400 units were budgeted to be produced and sold are provided: Controllable fixed cost
Temka [501]

Answer:

$1,450 unfavorable

Explanation:

For computing the variance, first we have to compute the budgeted profit which is shown below:

The budgeted profit = Revenue - expenses

where,

Revenue is $190,000

And, the expenses = Variable cost + Fixed cost

The variable cost per unit is not given so first we have to calculate it

Variable cost per unit = $105,840 ÷ 2,400 units  = $44.10

Now for 2,500 units, the total cost would be

= ($44.10 × 2,500 units) + $31,300

= $141,550

Now the budgeted profit would be

= $190,000 - $141,550

= $48,450

And, the variance equal to

= Actual profit - budgeted profit

= $47,000 - $48,450

= $1,450 unfavorable

4 0
3 years ago
Other questions:
  • A firm underwriting of a municipal bond issue usually has a number of different broker-dealers involved. Those who earn the tota
    8·1 answer
  • Marilyn, Bob, and Carl all believe a certain defendant is probably guilty and should be sentenced. Individually their recommenda
    14·1 answer
  • In what circumstances is it most important to use multistage dividend discount models rather than constant-growth models?
    12·1 answer
  • Assume that a firm uses labor and capital to produce a product. The firm hires labor at a wage rate of $4 per unit and rents cap
    13·1 answer
  • What is the yield to maturity of a nineminusyear bond that pays a coupon rate of​ 20% per​ year, has a​ $1,000 par​ value, and i
    11·1 answer
  • If you were using the discounted cash flow method to determine the appropriate value of a security, you would want to purchase t
    9·1 answer
  • Write a Story for Kumquat​
    5·1 answer
  • Easy points
    9·2 answers
  • What actions would the fomc likely take if it were to pursue contractionary monetary policy using open market operations?.
    12·1 answer
  • preparing tywin company's statement of cash flows for the most recent year, the following information is available: purchase of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!