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2 years ago

A brief description of the contract and the parties involved

1 answer:

7 0

An agreement, which is backed by the mutual acceptance of a valid offer for a legal activity, is known as a contract. The persons who are entering into such a contract are parties to the contract.

<h3>What is contract?</h3>

A contract between two or more parties is said to be legally binding, when there is a mutual acceptance and agreement between the parties, where both the parties have the capacity to fulfill the agreement for a predetermined consideration.

Hence, the significance of contract is aforementioned.

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How is a free-market economy different from a mixed economy?

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A free economy has a 100% open economy with very little government interaction however a mixed economy is open to the public but is semi-closely regulated by the government.

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While asia represents an important source of u.s. imports, few export opportunities exist for u.s. firms to sell goods and servi

Stells [14]

The correct answer is false. It is because it is not true that there are only few exports that exist for U.S. firms to sell goods and their services to asian consumers as they are likely to expand their goods and services all throughout by which few exports doesn't seem to be true.

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Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,920 and two j

Tanya [424]

Answer:

job 429 -WIP 3040 debit

job 430 -WIP 4020 debit

job 431 -WIP 4740 debit

factory overhead 900 debit

raw materials 12,700 credit

--to record materials requisions--

job 429 -WIP 2,300 debit

job 430 -WIP 3,400 debit

job 431 -WIP 7,900 debit

factory overhead 1,310 debit

wages payables 14,910 credit

--to record wages tickets--

job 429 -WIP 1,426 debit

job 430 -WIP 2,046 debit

job 431 -WIP 4,898 debit

factory overhead 8,370 credit

--to record applied overhead--

Explanation:

job 429 -WIP: 2300 x 62% = 1,426

job 430 -WIP: 3400 x 62% = 2,046

job 431 -WIP: 7900 x 62% = 4,898

total overhead: 8,370

7 0

3 years ago

The wage rate is $10 per hour and the last worker hired by the firm increased output by 100 units. Computers rent for $100 per h

const2013 [10]

Answer:

To minimise cost, the firm should lay off worker and rent more computer as it give more output per dollar invested on it. This reduce the fixed cost of the company drastically and increase the production of the company. The marginal cost of production and marginal revenue are economic parameter, which help to determine the amount of output and price per unit of input that will maximise the profits. The point at which marginal revenue is equal to marginal cost maximise the profit.

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3 years ago

On January 1, Ramirez Supply leased a car for a four-year period, at which time possession of the car will revert back to the le

ohaa [14]

Based on the amount that Ramirez guaranteed the lessor and the estimated residual value, the amount to be added to the right-of-use asset is $1,434.33.

<h3>What amount should be added to the right-of-use asset?</h3>

This would be the present value of the difference between the guaranteed amount and the estimated residual value.

= 42,300 - 40,200

= $2,100

Present value:

= 2,100 / (1 + 10%)⁴

= 1,434.328

= $1,434.33

In conclusion, the right-of-use asset amount to be added is $1,434.33.

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2 years ago