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Marizza181 [45]
3 years ago
12

John's son was not his agent but contracted to purchase a computer in John's name.When John learned of this,John sternly rebuked

his son but continued to use the computer for several weeks.After losing interest in the computer,John offered to return it,saying that the purchase was unauthorized.John:_______.
A) is not liable on the purchase.
B) expressly ratified the purchase.
C) is liable because all children have the apparent authority to contract for their parents.
D) ratified the purchase by John's conduct.
Business
1 answer:
umka21 [38]3 years ago
6 0

Answer:

D)

Explanation:

Based on the information provided within the question it can be said that in this scenario John ratified the purchase by John's conduct. This means that he basically gave formal consent of the purchase by not returning it immediately and instead using the computer for several weeks, which therefore makes the purchase valid.

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Suppose you receive at the end of each year for the next three years. a. If the interest rate is ​, what is the present value of
Furkat [3]

Answer:

the question is missing the numbers, so I looked for a similar question:

Suppose you receive $100 at the end of each year for the next three years. a. If the interest rate is 8%, what is the present value of these cash flows? (Answer: $257) b. What is the future value in three years of the present value you computed in (a)? (Answer: $324.61) c. Suppose you deposit the cash flows in a bank account that pays 8% interest per year. What is the balance in the account at the end of each of the next three years (after your deposit is made)? How does the final bank balance compare with your answer in (b)?

a) PV = $100/1.08 + $100/1.08² + $100/1.08³ = $257.71

b) FV = $257.71 x (1 + 8%)³ = $324.64

c) FV = ($100 x 1.08²) + ($100 x 1.08) + $100 = $324.64

it is exactly the same as the answer for (b)

5 0
3 years ago
Journalize the following transactions in the accounts of Sedona Interiors Company, a restaurant supply company that uses the all
Vaselesa [24]

Answer:

The journal entries are made below;

Explanation:

May 1. Account Receivable-Beijing Palace Co. Dr.$18,900

          Sales Revenue                                         Cr.$18,900

         Cost of Goods Sold       Dr.$11,200

        Inventory Stock              Cr.$11,200

Aug 30.     Cash      Dr.$8,000

               Bad Debt Expense        Dr.$10,900

              A/R-Beijing Palace Co.         Cr.$18,900

Dec 8.  A/R Beijing  Palace   Dr.$10,900

            Bad Debt Expense   Cr.$10,900

          Cash           Dr.$10,900

         A/R Beijing Palace Co. Cr.$10,900

6 0
3 years ago
Calculate the FV for the following 3 scenarios. Investment scenario #1:
kvv77 [185]

Answer:

?

Explanation:

5 0
3 years ago
Read 2 more answers
20 points!
alexira [117]

answer A are required to form a partnership by federal law

4 0
3 years ago
Cullumber, Inc. acquired 30% of Marigold Corporation's voting stock on January 1, 2021 for $890000. During 2021, Marigold earned
Strike441 [17]

Answer:

The gain on the sale of investment is $145,325

Explanation:

In determining the gain on the sale of half of the stock,the first thing to do would be determine the cost of the stock sold such that the cost can then be compared with the proceeds from the sale of the investment so as to determine the gain therein.

The total investment should be valued in such a way that the share of profits should be added to the investment while the dividends received would be deducted.

Jan,1 2021                                                                   $890,000

Share of profit($367,000*30%)                                  $110,100

less dividends(since it already received in cash

($228,000*30%)                                                         ($68,400 )

Value of investment at 31 Dec,2021                         $931,700  

Share of profit(30%*$467000)*6/12                           $70,050

Dividends(30%$128,000)                                          ($38,400 )

Value of investment as at 1 july  2022                     $963,350  

Note that as at I july 2022 Marigold Corporation is only entitled to half year profits on the investment as well as half year dividends

Cost of half of investment=$963,350*1/2=$ 481,675.00  

Gain= proceeds-cost=$627,000- 481,675 =$145,325

4 0
3 years ago
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