Answer: C. Baker will prevail over Charlie because Baker recorded the deed before a Charlie paid Able for the property.
Explanation:
As soon as Baker accurately and immediately recorded the deed with the appropriate county offices after the property was conveyed to him, he took over ownership of the property from Able.
Able received money from Charlie and signed a new deed after this had happened so Baker would prevail because Baker, not Able, owns the property and so Able cannot sell what does not belong to him.
Answer:
c. 1.14
Explanation:
Year Cash Flow PV Factor 10% PV of Cash flows
($) ($)
Year 1 180,000 0.909 163,620
Year 2 120,000 0.826 99,120
Year 3 100,000 0.751 75,100
Year 4 90,000 0.683 61,470
Year 5 90,000 0.621 55,890
Total = 455,200
Initial cash outflow = $400,000
Cash inflow = $455,200
So, we can calculate the present value index by using following formula,
Present value index = Cash inflow ÷ Cash outflow
= $455,200 ÷ $400,000
= 1.14
Answer:
Depreciation expense-Year 2 = $8840
Explanation:
It is important to note that the depreciation is based on the units-of-production method and in case of the truck, we take 100000 miles as its useful life or total units of production.
The depreciable value of the truck is Cost - salvage value,
Depreciable Value = 33000 - 7000 = 26000
The depreciation for year 2 based on units-of-production is,
Depreciation expense for year 2 = 26000 * 34000/100000 = $8840
Answer:
The legislature.
Explanation:
A budget can be defined as a financial plan of estimated revenues, resources and expenses over a specific period of time in a particular country. It is usually reevaluated based on future plans and objectives periodically, typically on an annual basis.
In theory, Texas has a dual-budget system, meaning the budget authority is shared by the governor and the legislature; however, in practice, the primary player in the budget is the legislature.
In accordance with the guidelines set by the Legislative Budget Board (LBB) in Texas, all agencies in the state prepares and send a Legislative Appropriations Request (LAR) to the Legislative Budget Board (LBB) and the Governor’s Office of Budget, Planning and Policy (GOBPP).
<em>The legislature is the primary player in the budget process because it is responsible for reviewing the budget proposals through the House Finance Committees and the Senate. </em>
The legislature being the primary player in the budget comprises of ten (10) members from the Texas House of Representatives and Texas Senate, it is chaired by the Lieutenant Governor. A single bill is then passed after the appropriation bill has been voted on by the respective chambers.
Additionally, the single bill is then sent to the Comptroller's office for verification and certification, and lastly it's signed by the Governor into law.
Answer:
$69000
Explanation:
The Gross profit that is reported by Alistair at the end of the year, will be calculated as follow;
Formula is as follow;
Total revenues – (Cost of goods sold – unadjusted credit balance manufacturing overheads account)
Followings values are given in the question;
Total revenues ($158000 + $214000) = $372000
Cost of goods sold ($144000 + $184000) = $328000
Unadjusted credit balance manufacturing overheads account = $25000
Now let’s put the values in the formula;
$372000 – ($328000 – $25000)
$372000 – $303000 = $69000