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Inessa05 [86]
3 years ago
9

Andrews and Bates have a written contract in which Bates promises to sell Andrews a piece of real estate. Bates refuses to compl

ete the transaction. Andrews sues Bates for specific performance, asking the court to order Bates to complete the sale. This action is for ________.
Business
1 answer:
Nikolay [14]3 years ago
7 0

Answer:

Equitable relief

Explanation:

Equitable relief is defined as a remedy provided by a court that requires a party to act or prevents a person from acting.

It is usually granted in relation to contracts that have been breached.

When equitable relief is sought there is no monetary compensation, rather the plaintiff is requesting the court to ensure an action is performed.

In this instance Andrews and Bates have a written contract in which Bates promises to sell Andrews a piece of real estate. When Bates refuses to fulfill his obligation Andrews can seek for equitable relief from the court.

Forcing Bates to sell the piece of real estate as agreed in the contract.

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Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances at the beginning and end
Jet001 [13]

Answer:

<u>a schedule of cost of goods manufactured</u>

Direct Raw materials                                    $281,000

Direct Labor                                                  $377,000

Indirect Raw materials                                  $26,000

Indirect Labor                                                $96,000

Factory utility costs:                                       $10,000

Depreciation - factory operations               $120,000

Add Opening Work In Process                     $27,000

Less Closing Work In Process                       ($9,000)

cost of goods manufactured                        $928,000

Under Recovery = $14,000

Explanation:

a. Prepare a schedule of cost of goods manufactured.

Raw Materials Used in Manufacturing = $14,000+$315,000-$22,000

                                                               = $307,000

<u>a schedule of cost of goods manufactured</u>

Direct Raw materials                                    $281,000

Direct Labor                                                  $377,000

Indirect Raw materials                                  $26,000

Indirect Labor                                                $96,000

Factory utility costs:                                       $10,000

Depreciation - factory operations               $120,000

Add Opening Work In Process                     $27,000

Less Closing Work In Process                       ($9,000)

cost of goods manufactured                        $928,000

b. Was the manufacturing overhead under- or overapplied

Factory Overheads Applied = Predetermined Rate × Actual Activity

Predetermined Rate = Budgeted Overheads/ Budgeted Activity

                                  = $231,000/33,000 machine hours

                                  =$7.00 per machine hour

Factory Overheads Applied = $7.00 × 34,000 machine hours

                                              = $238,000

<u>Actual Overheads </u>

Indirect Raw materials                                  $26,000

Indirect Labor                                                $96,000

Factory utility costs:                                       $10,000

Depreciation - factory operations               $120,000

Total                                                              $252,000

Actual Overheads $252,000 > Factory Overheads Applied $238,000

Under Recovery = $14,000

5 0
3 years ago
Lease or Sell Casper Company owns a equipment with a cost of $366,000 and accumulated depreciation of $53,200 that can be sold f
aalyn [17]

Answer:

The Company should Lease the equipment (Alternative 1)

Explanation:

Preparation of a differential analysis on March 23 as to whether Casper Company should lease or sell the equipment.

DIFFERENTIAL ANALYSIS

Lease Equipment (Alternative 1); Sell Equipment (Alternative 2) Differential Effect on Income (Alternative 2)

Revenues $285,200 $273,400 –$11,800

Costs –$15,100 –$8,202 $6,898

($273,400*3%=$8,202)

Income (Loss) $270,100 $265,198 $4,902

Therefore Based on the above Differential Analysis the Company should LEASE the equipment (Alternative 1).

6 0
3 years ago
Sweet Company borrowed $34,800 on November 1, 2020, by signing a $34,800, 9%, 3-month note. Prepare Sweet’s November 1, 2020, en
nikitadnepr [17]

Answer:

Explanation:

The journal entries are shown below:

On November 1

Cash A/c Dr $34,800

      To Notes payable A/c $34,800

(Being issuance of the note payable is recorded)

On December 31

Interest expense A/c Dr  $522

     To Interest payable A/c  $522

(Being accrued interest adjusted)

The computation is shown below:

Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $34,800 × 9% × (2 months ÷ 12 months)

= $522

The two month is calculated from the November 1 to December 31

On February 1

Interest Expense A/c Dr $261

Interest payable A/c Dr $522

Note Payable A/c Dr $34,800

        To Cash A/c $35583

(Being payment is recorded)

The computation is shown below:

Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $34,800 × 9% × (1 months ÷ 12 months)

= $261

The one month is calculated from the January 1 to February 1

5 0
3 years ago
What is the main commodity on the JEB - property/ shares/ gold/ oil ?
lyudmila [28]
<span>Gold is the main commodity on the JEB. Right now gold is trading around the $1250 level.</span>
6 0
3 years ago
HELP
evablogger [386]
Answer to this question is all of above. D.
6 0
2 years ago
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