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2 years ago

An insurable interest for the benefit of a purchaser under the ucc exists or can exist as soon as?

1 answer:

6 0

A purchaser's insurable interest under the ucc exists or will exist as soon as 2-501. Goods Identification Method; Insurable Interest in the Goods.

By designating existing items as those to which the contract relates, even while he has the opportunity to reject or return them, the buyer acquires a special property and an insurable interest in the products. Such identification may be accomplished whenever it is convenient for the parties and however they have expressly agreed. Identification takes place in the lack of explicit agreement .When the contract is made, if it is for the sale of items that are already in existence and are identifiable, option .when the contract is made, if it is for the sale of future goods, option

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The owner’s equity section of the balance sheet for the Blue Top Taxi Company shows that

Paha777 [63]

Answer:

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Explanation:

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3 years ago

quality control activity analysis indicated the following four activity costs of a hotel. Verifying credit card information $52,

trapecia [35]

Answer:

The total cost of quality is $ 313200

Explanation:

First we need to distinguish the costs and allocate them to the correct category for the cost of quality report.

We have verifying credit card information of $52200

Customer service training of $104400

Discounting room rates due to poor service $ 156600

The 4 categories of cost of quality report are Prevention Costs, Appraisal Costs, Internal Failure costs and external failure costs.

Conforming Costs

Customer service training - prevention costs. - $104400 1,53% of total sales

Verifying credit card information - appraisal cost - $52200 0,76% of total

Non-conforming costs

Internal Failure

External Failure costs

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Total cost of quality $ 313200 4,6% of total sales

5 0

3 years ago

On December 15, 2018, Rigsby Sales Co. sold a tract of land that cost $3,200,000 for $5,000,000. Rigsby appropriately uses the i

ivann1987 [24]

Answer:

Instalment receivables (net) of $2,905,600 is the correct answer.

Explanation:

Instalment Receivables ($5,000,000 - $460,000) = $4,540,000

Deferred gross profit ($1,800,000 - $165,600) = $1,634,400

Instalment Receivables (Net) = $2,905,600

6 0

3 years ago

During the current period, Roberts recognized interest expense of $9,400 and paid interest of $9,000 related to its discounted b

VARVARA [1.3K]

Answer:

amortization on discount on BP 400

Explanation:

When there is a difference between the face value and the issuance proceeds from the bond a premium or discount is created.

When the proceeds are above, there will be a premium and the interest expense will be lower thant the actual cash outlay on the bond.

When theface value is above the proceeds, there is a discount.and expenses are higher than cash payment to bondholders.

In this case the expense is higher so there is a discount.

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3 years ago

Exchanged all of the securities for shares of preferred stock, which were not mandatorily redeemable. Market values at the date

ValentinkaMS [17]

Answer:

The full question is as follows <em>"The following accounts were among those reported on Good Corp.'s balance sheet at December 31, year 1: Available-for-sale securities (market value $140,000) $80,000 Preferred stock, $20 par value, 20,000 shares issued and outstanding 400,000 Additional paid-in capital on preferred stock 30,000 Retained earnings 900,000 On January 20, year 2, Good exchanged all of the available-for-sale securities for 5,000 shares of Good's preferred stock. Market values at the date of the exchange were $150,000 for the available-for-sale securities and $30 per share for the preferred stock. The 5,000 shares of preferred stock were retired immediately after the exchange. Prepare the general journal entry, without explanation, to record this event."</em>

Date General Journal Entry Debit Credit

Preferred stock A/c $100,000

(5000*$20)

Add. paid-in capital on preferred stock $7,500

(30000 * 1/ 4)

Retained earnings $42,500

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Gain on exchange of securities $10,000

8 0

2 years ago