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ivolga24 [154]
3 years ago
7

Mary promises to give her car to her friend. the friend sells his current car for a fairly low price because he is expecting to

get a nearly new car from his rich and generous friend, fred. mary changes her mind and decides to keep the car. if the friend sues mary, the court most likely will: require mary to give her friend the car because his sale of his car was consideration require mary to pay damages to the friend for any loss he incurred in connection with mary not keeping her promise not require mary to do anything because this was a gift promise require mary to give her friend the car because mary made an illusory promise
Business
1 answer:
elixir [45]3 years ago
4 0
<span>If the friend sues Mary, the court most likely will not require Mary to do anything because this was a gift promise. In order for a gift promise to be enforceable by the law, it should be a contract. And in order for it to be a contract, there should be a consideration received by Mary but in this case, no consideration was received by Mary therefore, the promise is unenforceable.</span>
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Neef Corporation has provided the following data for its two most recent years of operation: Selling price per unit Manufacturin
Luden [163]

Answer:

C. The amount of fixed manufacturing overhead released from inventories is $12,000

Explanation:

Fixed manufacturing overhead in year 1 = $432,000

Production of units in Year 1 = 12,000 units

Thus, fixed manufacturing overhead per unit in year 1 = $432,000 / 12,000 units = $36 per unit

Inventory at the end of year 1 = 3,000 units

Fixed manufacturing overhead deferred in year 1 = 3000 units * $36 per unit = $108,000

Now, lets calculate for year 2:

Production units: 9000 units

Fixed manufacturing overhead per unit in year 2 : $432,000 / 9,000 units = $48 per unit

Fixed manufacturing overhead in closing inventory = 2000 units * 48 = $96,000

<em>Fixed manufacturing overhead released from inventory = Fixed manufacturing overhead in beginning inventory - Fixed manufacturing overhead in ending inventory</em>

Now, applying the formula (as stated above) for calculating fixed manufacturing overhead released from inventory in year 2:

Fixed manufacturing overhead (FMOH) released from inventory in year 2 = FMOH in year 1 - FMOH in year 2

= $108,000 - $96,000 =

= $12,000.

7 0
3 years ago
In one of the cases in the textbook, Michael Weinstein was the head of Coated Sales, Inc., a company that coated fabrics for use
Studentka2010 [4]

Answer:

The remaining part of the question is:

What happened to Weinstein?

A. After the bankruptcy, he raised new capital and started another fabric coating company.

B. He was convicted, sentenced to prison, and ordered to make restitution.

C. He cooperated with the government and became an informant against his partners who had been siphoning cash off of government contracts.

D. He was placed on probation after reimbursing the shareholders with the profits he had made on investments in the stock market.

<u>Correct Answer:</u>

B.<u> He was convicted, sentenced to prison, and ordered to make restitution.</u>

<u></u>

Explanation:

<em>As a result of the frauds which Michael Weinstein committed leading to the failure of the company, he was charged to court based on the evidence gathered. Later, he was found guilty by the court leading to him being jailed.</em>

7 0
3 years ago
All OSHA-covered organizations are required to have _____.
Marta_Voda [28]

Answer:

a safety manual

Explanation:

OSHA = Occupational Safety and Health Administration

6 0
4 years ago
10 countries and their currency
alekssr [168]
In pic
all start with A 

gives more info than needed

5 0
3 years ago
Read 2 more answers
Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eight
FromTheMoon [43]

Answer:

1,000

and 1,000

Explanation:

The loan rate is 8,5%

85/1000 = 8.5

The market rate is 8.5

So the loan should be sold at 1,000 which is the face value of the loan, because there is no difference between the market rate and the loan rate.

This can be calculated anyway to prove it:

present value of the annuity of $85 during 8 years at 8.5% market rate

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 85

time 8

rate 0.085

85 \times \frac{1-(1+0.085)^{-8} }{0.085} = PV\\

PV $479.3306

Present value of the maturity date:

\frac{Maturity}{(1 + rate)^{time} } = PV

Maturity 1000

time 8

rate 0.085

\frac{1000}{(1 + 0.085)^{8} } = PV

PV  $520.6694

Total present value

PV c $479.3306

PV m  $520.6694

Total $1,000.0000

7 0
3 years ago
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