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Vikentia [17]
1 year ago
10

Lisa agrees to sell Deb an electronic entertainment center worth $1,000 for $700 in order to have a rapid sale. Later Lisa insis

ts that she may rescind this agreement since the agreed price was 30% below fair market value. Lisa may:
Business
1 answer:
klemol [59]1 year ago
6 0

Lisa agrees to sell Deb an electronic entertainment center worth $1,000 for $700 in order to have a rapid sale. Later Lisa insists that she may rescind this agreement since the agreed price was 30% below fair market value. Lisa may not rescind since Lisa and Debbie freely agreed.

A trade show for the video game industry is called E3. For the purpose of introducing and publicizing new games and game-related items to retailers and the media, the Entertainment Software Association organizes and presents E3, which is attended by a large number of developers, publishers, hardware, and accessory makers.

Internet-based entertainment that a user can view or hear: We anticipate that increased access to broadband will open up e-commerce and entertainment to everyone.

Learn more about Entertainment Software Association  here brainly.com/question/13615489

#SPJ4

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On May 10, Keene Company sold merchandise for $4,000 and accepted the customer's Best Business Bank MasterCard. At the end of th
natta225 [31]

Answer:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Explanation:

The journal entry is shown below:

Cash $3,848  

Service Charge Expense     ($4,000 ×3.8%) $152  

       To Sales Revenue  $4,000

(Being the record of the sale of merchandise is recorded)

Since sale is made so we debited the cash it increased the assets plus there is service charge expense so the same is also debited as it increased the expenses and at the same time the merchandise is sold so it would be credited as it increased the revenue

8 0
3 years ago
What are the two most critical things you should do before you perform a job
dlinn [17]
Safety & knowledge of the job
8 0
3 years ago
The balance sheet of a corporation reports ______. only the debts of the business and its owners only the results of the busines
grandymaker [24]

Answer:

only the results of the business' activities

Explanation:

 balance sheet is among the three main financial statements prepared by a corporation. It reports the financial positions of the business by showing the value of assets, liabilities, and the shareholder's equity at any point in time. Therefore, a balance sheet shows the net worth of the corporation.

The preparation of the balance sheet follows the accounting equation of assets equals liabilities plus shareholder equity. On one side, the balance sheet reports the assets and liabilities and equity on the other.  In other words, the balance sheets indicate how the assets of a business are financed. It does not report on the personal activities of business owners.

6 0
3 years ago
Huck Finn is thinking about purchasing some stock in Mississippi Mining Company (MMC). Huck uses the price/earnings ratio techni
musickatia [10]

Answer:

Profit earning ratio of MMC = 10%

Explanation:

Given:

Current stock price = $100

Yearly profit on each share = $10

Profit earning ratio (P\E ratio) =?

Computation of profit earning ratio:

Profit earning ratio (P\E ratio) = Current stock price / Yearly profit on each share

Profit earning ratio (P\E ratio) = $100 / $10

Profit earning ratio (P\E ratio) = 10

It is computed that MMC's Profit earning ratio is nearer to the industry averages P/E ratio so, the investor can wait for some time to purchase this stock.

4 0
3 years ago
Calaveras Tire exchanged equipment for two pickup trucks. The book value and fair value of the equipment given up were $34,000 (
MrRissso [65]

Answer:

1. $51,000

2.$11,000 Gain

Explanation:

(1) Calculation to determine At what amount will Calaveras value the pickup trucks

Using this formula

Trucks value =Fair value + Cash paid

Let plug in the formula

Trucks value=$45,000+$6,000

Trucks value=$51,000

Therefore Calaveras value the pickup trucks at $51,000

(2) Calculation to determine How much gain or loss will the company recognize on the exchange

Using this formula

Gain or loss on exchange =Fair value - Book value

Let plug in the formula

Gain or loss on exchange=$45,000-$34,000

Gain or loss on exchange=$11,000 Gain

Therefore the company will $11,000 GAIN recognize on the exchange

6 0
2 years ago
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