The table below shows a summary of Kaitlin's credit card statement for the month of February.

Matt tells Ron that the snow boots he is selling offer protection for temperatures of 20° below zero. Ron orders a pair for his

vampirchik [111]

Answer:

A) Breach, because the latter express warranty is valid.

Explanation:

Based on the scenario being described within the question it can be said that the result would be a breach. This is mainly due to the fact that the box stated that "will protect your feet in temperatures down to 30° below zero." and this is a valid express warranty that is being marketed by the company that created the product. Therefore since the temperature did not go below 30 and Ron still suffered frostbite then he can rightfully sue.

4 0

3 years ago

Castleton Corporation manufactured 41,000 units during March. The following fixed overhead data relates to March: Production Mac

neonofarm [45]

Answer:

Allocated MOH= $120,400

Explanation:

Giving the following information:

The following fixed overhead data relates to March:

Actual 41,000 units 6,020 hours $125,500

Static Budget 39,000 units 5,850 hours $117,000

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 117,000/ 5850= $20 per hour

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 20* 6,020= $120,400

4 0

3 years ago

Listed below are some items found in the financial statements of Tony Gruber Co. Indicate in which financial statement(s) the fo

ss7ja [257]

Answer:

The correct financial statement for the respective items is:

a) Service Revenue - Income statement.

b) Equipment - Statement of financial position.

c) Advertising expense - Income statement.

d) Accounts receivable - Statement of financial position.

e) Owner’s capital - Statement of financial position.

f) Salaries and wages payable - Statement of financial position.

Explanation:

a) Service Revenue - Service revenue refers to the sales generated from the services provided/offered by the business to its customers. Service revenue is an item of the income statement and appears on the credit side amongst revenues/incomes list.

b) Equipment - Equipment in accounting is used to refer tangible items such as plant, property and motor vehicle which are expected to be used for production for longer than one accounting period. They are tangible items and form part of the statement of financial position under the non-current assets.

c) Advertising expense - Advertising expense refers to operating expense incurred by the business in advertising its products/services. It is an item of the of the income statement and appears on the debit side amongst expenses list.

d) Accounts receivable - The term accounts receivable refers to all the payments a business is expecting for goods or services it provided to its customers on credit. It is a part of the statement of financial position and appears under the current accounts.

e) Owner’s capital - Also known as the owner's equity, owners capital refers to all the investment the owner has put into the business.This maybe in the form of funds or assets. It is a part of the statement of financial position and appears under the Capital and retained earnings / losses accounts.

f) Salaries and wages payable - Salaries and wages payable refers to salaries and wages due/owed to the business's employees for prior periods.It is part of the statement of financial position and appears under the current liabilities accounts.

6 0

4 years ago

Peter heads the communications department of Xenon Inc. He shows concern for the personal needs of his followers and helps them

Vitek1552 [10]

Answer:

a supportive leader

Explanation:

A supportive leader is a leader who is able to identify changes and assistance that are needed to promote the well-being of his team members and timely resolve all unnecessary issues with the aim of delivering a high standard of performance.

A supportive leader is usually kind, friendly, and concerned about the personal needs and welfare of his followers. He also leaves his door open to be approached by many people for advice and help, and also inspires them perform tasks assigned to them with enthusiasm.

Therefore, Peter's behavior implies that he is most likely <u>a supportive leader</u>.

5 0

3 years ago

Two companies are financed as follows: X Co. Y Co. Bonds payable, 9% issued at face $5,000,000 $3,000,000 Common stock, $25 par

BartSMP [9]

Answer:

The Earnings per Share on Common Stock X Co. $ Y Co is $9.15 and $10.05 respectively.

Explanation:

To compute the earning per share, first we have to calculate the net income and number of outstanding shares.

In mathematically,

Earning per share = Net income ÷ Number of outstanding shares

where,

Net income = Income before bond interest and income taxes - interest - tax

where,

Interest = Bonds × Rate

Tax = income tax rate × remaining balance

whereas, number of outstanding shares = Common stock ÷ price of shares

So,

For X,

The net income is = $2,280,000 - ($5,000,000 × 9%) - (40% of remaining balance)

= $2,280,000 - $450,000 - $732,000

= $1,098,000

And, Number of outstanding shares = 3,000,000 ÷ $25 = 120,000

So, Earning per share for X is

= $1,098,000 ÷ 120,000 = $9.15

For Y,

The net income is = $2,280,000 - ($3,000,000 × 9%) - (40% of remaining balance)

= $2,280,000 - $270,000 - $804,000

= $1,206,000

And, Number of outstanding shares = 3,000,000 ÷ $25 = 120,000

So, Earning per share for X is

= $1,206,000 ÷ 120,000 = $10.05

Hence, the Earnings per Share on Common Stock X Co. $ Y Co is $9.15 and $10.05 respectively.

3 0

3 years ago