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1 year ago

Guido and hal want to rescind their contract under which guido sold hal a mountain bike for $100. To rescind the contract.

1 answer:

6 0

Guido and hal want to rescind their contract under which Guido sold hal a mountain bike for $100. To rescind the contract. Guido must return the $100 and Hal must return the bike.

<h3>What do you mean by contract?</h3>

A contract is an enforceable legal arrangement that establishes, details, and regulates the rights and duties of the parties.
The transfer of commodities, services, money, or a promise to transfer any of those at a later time are common components of contracts.
The damaged party may seek legal remedies like damages or rescission in the event of a contract breach.
The foundation of contract law, which is the area of law of obligations pertaining to contracts, is the idea that agreements must be upheld.

<h3>What constitutes a contract's seven elements?</h3>

Basics of contracts.
Classification of contracts.
Offer.
Acceptance.
A gathering of minds.
Consideration.
Capacity.
Legality.

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Emma, Inc. reacquired 166,326 of its shares at $22 per share as treasury stock. Last year, for the first time, Emma sold 37,992

Lesechka [4]

Answer:

The correct answer is $152,949.

Explanation:

According to the scenario, the given data are as follows:

Reacquired shares = 166,326

Per share price = $22

So, we can calculate the retained earning decline by using following formula:

Retained earning decline = Cost of Treasury shares - Sales price - Paid in Capital from stock

Where, Cost of treasury shares = 48,987 × $22 = $1,077,714

Now Sales Price = 48,987 × $15 = $734,805

and Paid in Capital from stock = 37,992 × ( $27 - $22) = $189,960

By putting the value in the formula, we get:

Retained earning decline = $1,077,714 - $734,805 - $189,960

= $152,949

6 0

2 years ago

Once you have developed a set of solutions for a business problem or challenge how do you go about assessing each on its merits

s344n2d4d5 [400]

When you think about calculating your small business's success, you ought to see how much revenue it produces. Obviously, when you are running a corporation, money is necessary. Your business is done without it. You will expand your company with it and continue to follow your entrepreneurial dream.

During a given time frame, the financial statement tests the success of your firm by displaying the gains and expenses of your corporation. The balance sheet reflects the financial stability of the organisation, calculating how much you owe and own. And the declaration of cash flow indicates how liquid cash is at the business.

Measuring market efficiency involves testing the company's cash flow. Check out the financial statements if you want to see how profitable the company is.

A perfect way to assess the success of your company and forecast progress is to know how many new clients you have. You might need to kick up your marketing campaign if your company is static with the same 25 clients.

See if current consumers are the ones buying from your firm. Create a customer list to manage clients with email addresses. That way, every month or year, you can easily count the number of new customers.

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6 0

2 years ago

Jenny has just been hired to work at a small store. What three basic things should she expect from her employer to help protect

OverLord2011 [107]

customers are always right
don't argue with the customers
don't switch to tags

7 0

3 years ago

Which of the following statements are true?

kirza4 [7]

Answer:

TRUE: A. Different companies will use different charts of accounts based on individual company need.

C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.

Explanation:

A. <u>Different companies will use different charts of accounts based on individual company need.</u>

A chart of accounts is the combination of all the accounts of an organization in an organized and structured model whose objective is to establish a codification so that there is a standardization of the company's financial information to assist the work of the accounting sector.

Therefore, each company will have a model chart of accounts referring to its activities and processes.

<u>C.</u><u> </u><u>The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.</u>

<u> </u>The general ledger can be defined as the set of all accounts held in the organization in detail.

Through the information in the accounts, the organization is able to correctly separate each one by type and carry out the organizational financial statement.

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6 0

2 years ago

Suppose a banking system has $120 million in deposits, a required reserve ratio of 20 percent, and total bank reserves for the w

Dmitry_Shevchenko [17]

Answer:

$380 million

Explanation:

Given that,

Deposits = $120 million

Required reserve ratio = 20 percent

Total bank reserves = $100 million

Required reserve ratio refers to the portion of deposits that is kept with the reserve bank.

Required reserves:

= Deposits × Required reserve ratio

= $120 million × 0.2

= $24 million

Excess reserves:

= Total reserves - Required reserves

= $100 - $24

= $76

So, there is a excess reserves in this economy.

Money multiplier = 1/Required reserve ratio

= 1/0.2

= 5

Therefore, the total money creation potential of this deposit is as follows:

= Excess reserves × Money multiplier

= $76 × 5

= $380 million

Hence, an increase in deposit creation by $380 million.

6 0

3 years ago