Answer:
B) The letter of intent is an invitation to negotiate, which is not an offer.
Explanation:
A letter of intent is simply an invitation to negotiate any type of transaction, sales or lease. The amounts included in the letter can serve as a basis for the negotiating or bargaining process, but they are not fixed and even Ryan can change them. This is similar to an ad in a newspaper that offers something for sale. Until the bargaining process is over and both parties agree on the consideration exchange and other terms, it is just a notice without any legal value.
Answer:
Hand saw is cheaper.
Explanation:
Given:
Material cost = $500
Electric saw cost rent per hour = $20
Building hour from electric saw = 6 hour
Building hour from hand saw = 15 hour
Time off pay from job = $8/hour
Computation of total cost from Electric saw :
Total cost from Electric saw = Material cost + Renting cost of electric saw + Time of from job
Total cost from Electric saw = $500 + (6 × $20) + (6 × $8)
Total cost from Electric saw = $500 + $120 + $48
Total cost from Electric saw = $668
Computation of total cost from hand saw :
Total cost from hand saw = Material cost + Time of from job
Total cost from hand saw = $500 + (15 × $8)
Total cost from hand saw = $500 + $120
Total cost from hand saw = $620
Hand saw is cheaper.
Answer:
Total Asset = $2,598,200
Explanation:
Accounting equation : Asset = Equity + liabilities
Equity =common stock + retained earnings
= ( 5000*$400) + (40000 - 1800)
= $2,000,000 + 38200
= $2,038,200
Liabilities = $240,000 + 320000
= $560,000
Total Equity and Liabilities = 2038200 + 560000
= $2,598,200
double entry principle helps to ensure that the accounting equation is done e.g when common stock is issued contra entry is bank if cash is received.
Answer:
Corporations
Corporations. A corporation is considered by law to be a unique entity, separate from those who own it. A corporation can be taxed, sued and enter into contractual agreements. The corporation has a life of its own and does not dissolve when ownership changes.
Explanation:
corporation
Unlike a sole proprietorship or general partnership, a corporation is a separate legal entity, separate and distinct from its owners. It can be created for a limited duration, or it can have perpetual existence
