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Vikentia [17]
2 years 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]2 years 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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our Grandfather wants to establish a scholarship in his father’s name at a local university and had stipulated that you will adm
inn [45]

Answer:

The correct answer is Option A. you will need to deposit $111,111 so that you can fund the scholarship forever, assuming that the account will earn 4.50% per annum every year.

Explanation:

Perpetuity is the cash flows to be receivable for an unspecified period of time. The present value of a perpetuity is calculated as the cash flows divided by the interest rate provided.  

Given data;

Amount needed to be deposited = $5000

Interest rate = 4.50%

Present Value of Perpetuity = Cash Flows ÷ Interest rate  

= $5000 ÷ 0.045

= $111,111

3 0
3 years ago
As a new investment adviser (IA) firm, your company wants to obtain more clients. In an attempt to do so, one of the employees s
IRISSAK [1]

Answer:

D) is not acceptable because such a guarantee would cause a conflict of interest pertaining to the IA's fiduciary duty to each client

Explanation:

The members of the North American Securities Administrators Association (NASAA) must follow their Model Rule which prohibits investment adviser firms from guaranteeing investment results, in other words they cannot guarantee a minimum profit.

In this case the employee suggested that if their clients didn't earn a minimum 12% profit, then they would refund any fees collected. But the IA firm is not allowed to guarantee the 12% value increase or profit.

8 0
3 years ago
g Kaye's Kitchenware has a market/book ratio equal to 1. Its stock price is $12 per share and it has 5.2 million shares outstand
Ede4ka [16]

Answer:

48.00%

Explanation:

For computing the debt to capital ratio, first we have to determine the equity value and debt value which is shown below:

Equity value = Number of outstanding shares × stock price per share

                    = 5.2 million shares × $12

                    = $62.4 million

We know,

Total capital = Debt + equity

$120 million = Debt + $62.4 million

So, the debt would be

= $120 million - $62.4 million

= $57.6 million

Now the debt to capital ratio would be

= $57.6 million ÷ $120 million

= 48.00%

7 0
3 years ago
Allowance for Doubtful Accounts has a debit balance of $2,300 at the end of the year (before adjustment). The company prepares a
Alina [70]

Answer:

d. Debit Bad Debt Expense, $34,200; credit Allowance for Doubtful Accounts, $34,200

Explanation:

allowance balance                           2,300 debit

estimated uncollectible accounts   31,900 credit

adjustment needed                         34,200 credit

We need to adjust the allowance to our estimated uncollectible account. Currently, it has 2,300 debit balance. We need to increase it to 31,900

If we think it in two steps:

We need to credit by 2,300 to have zero balance,

and then 31,900 to reach the expected uncollectible amount

in total a credit for 34,200 needs to be done

<u>The adjusting entry will be:</u>

bad debt expense                       34,200 debit

allowance for doubtful accounts                        34,200 credit

8 0
3 years ago
Prairee partnership has four equal partners, Dodd, Crank, Pick, and Mack. Each of the partners had a tax basis of $320,000 as of
NemiM [27]

Answer:

mack tax basis in prairee on 31 december = 307000

correct option is a. $307,000

Explanation:

given data

tax basis = $320,000

net business income = $152,000

services rendered = $4,000

distribution = $50,000

solution

we know allocated income is here

allocated income = net business income - guaranteed payment

allocated income = 152000 - 4000

allocated income = 148000

so

mack share of net income is 25 % of allocated income

mack share of net income = 37000

so

mack tax basis in prairee on 31 december = 320000 + 37000 - 50000

mack tax basis in prairee on 31 december = 307000

7 0
3 years ago
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