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Shtirlitz [24]
2 years ago
8

On april 6, apple entered into a signed contract with bean, by which apple was to sell bean an antique automobile, having a fair

market value of $150,000, for $75,000. apple believed the auto was worth only $75,000. unknown to either party, the auto had been destroyed by fire on april 4. if bean sues apple for breach of contract, apple's best defense is
Business
1 answer:
OlgaM077 [116]2 years ago
6 0
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On October 31, 2021, Damon Company’s general ledger shows a checking account balance of $8,415. The company’s cash receipts for
Slav-nsk [51]

Answer:$14,425

Explanation:

Adjusted cash balance:

Balance as per cashbook: $8,415

Add note receivable: $5,600

Add interest earned: $620

Less bank service fees: ($210)

Adjusted cash balance: $14,425

Bank Reconciliation statement:

Adjusted cash balance: $14,425

Add outstanding checks($72,485-$71,090): $1,395

Less uncredited checks($74,440-$71,325): ($3,115)

Less Bank Error: ($540)

Balance as per bank statement: $12,165

7 0
3 years ago
Reynolds Manufacturers Inc. has estimated total factory overhead costs of $96,000 and expected direct labor hours of 12,000 for
Ipatiy [6.2K]

Answer:

the work in process should be debited for $13,520 and factory overhead should be credited for $96,000

Explanation:

The computation is shown below;

Work in process is

= $96,000 ÷ 12,000 × 1,690

= $13,520

So here the work in process should be debited for $13,520 and factory overhead should be credited for $96,000

Therefore the same would be considered and relevant

The same is fit to the given situation

6 0
3 years ago
Define liquidity. Rank the following assets in terms of liquidity, from most to least liquid: money market mutual fund, savings
valina [46]

Answer:

Liquidity: amount of cash or cash equivalents and its primary feature of converting quickly into money without losing any of it current value.

1)_ Dollar bill

2)_ Saving account

3)_ Checking account

4)_ Gold bar

5)_ Corporate stock

6)_ Money market mutual fund

7)_ House

Explanation:

To begin with, the liquidity is the feature of those assets to converting the most quickly as possible in cash and therefore the the most liquid asset is properly the dollar bill and the less liquid asset is the house due to the fact that it could take years to sell by a proper offer and becoming actual cash. In conclusion, it works that way with all the other assets, the liquidity of each one is higher or lower depending on the quickness of converting into cash.

3 0
2 years ago
Eric receives a portion of his income from his holdings of interest-bearing U.S. government bonds. The bonds offer a real intere
MArishka [77]

Solution :

Given :

The bonds offer a \text{real interest rate} of 4.5% per year

Tax rate = 10% = 0.10

Inflation rate = 2

\text{Nominal interest rate} = \text{real interest rate} + \text{inflation rate}

\text{Nominal interest rate} = 2 + 4.5

                                   = 6.5

\text{After tax nominal rate} = \text{Nominal interest rate} $\times (1-\text{tax rate})$

\text{After tax nominal interest rate} = $6.5 \times (1-0.10)$

                                                  $=6.5 \times 0.90$

                                                 = 5.85

After tax real interest rate = \text{after tax nominal rate} - \text{inflation rate}

                                           = 5.85 - 2.0

                                            = 3.85

\text{Inflation rate} = 7.0

\text{Real interest rate = 4.5}

\text{Nominal interest rate} = \text{real interest rate} + \text{inflation rate}

                                   = 7 + 4.5

                                  = 11.5

\text{After tax nominal interest rate} = \text{Nominal interest rate} $\times (1-\text{tax rate })$

                                                  $=11.5 \times (1 - 0.10)$

                                                  $=11.5 \times 0.90$

                                                = 10.35

\text{After tax nominal interest rate} = 11.5 x (1 - 0.10)

                                          = 11.5 x 0.90

                                         = 10.35

\text{After tax nominal interest rate} = \text{after tax nominal rate} - \text{inflation rate}

                                           = 10.35 - 7.0

                                          = 3.35

Putting all the value in table :

\text{Inflation rate}    Real interest  Nominal interest  After tax nominal  After tax  

                                  rate                rate               interest rate       interest rate

2.0                             4.5                  6.5                        5.85                   3.85

7.0                              4.5                11.5                         10.35                3.35

Comparing with the \text{higher inflation rate}, a \text{lower inflation rate} will increase the after after tax real interest rate when the government taxes nominal interest income. This tends to encourage saving, thereby increase the quantity of investment in the economy and the increase the economy's long-run growth rate.

7 0
3 years ago
Are contractually-stipulated cooperation programs between unions and management a realistic and workable concept? Why or why not
krok68 [10]
<span>Yes these contractually-stipulated programs between the both parties are actually a realistic and workable concept. It is important for both union and employer because when there is a situation of disagreement this contract will provide a resolution to both of them saving time and resources.</span>
4 0
3 years ago
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