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tigry1 [53]
3 years ago
6

The owner of a small color television set offers to sell it to a neighbor for $75. As the neighbor stands there thinking about t

he offer, a bystander says, “That’s a bargain. I’ok take it!” Is there a contract between the bystander and the owner
Business
1 answer:
NNADVOKAT [17]3 years ago
8 0

If he was the first to say he wanted the product and the seller wants to sell it as fast as possible than yes. But not technically it would be  a kind of verbal understanding and agreement.

You might be interested in
Differentiate between homogeneous mixtures and heterogeneous mixtures ​
vazorg [7]

Answer:

A homogeneous mixture is a solid, liquid or gaseous mixture that has the same proportions of its components throughout any given sample. Conversely, a heterogeneous mixture has components in which proportions vary throughout the sample.

3 0
3 years ago
A company has sales of $375,000 and its net income is 54,250. its gross profit is $157,500. its cost of goods sold equals: a 7.6
Galina-37 [17]

Answer:

$217,500

Explanation:

We know that the

Cost of goods sold = Sales revenue - gross profit

                                = $375,000 - $157,500

                                = $217,500

To compute the cost of goods sold we deduct the gross profit from the sales revenue so that the cost of goods sold can come.

And, the net income would be ignored

This is the answer but the same is not provided in the given options

6 0
3 years ago
Marin Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 8 years and requires equa
Ann [662]

Answer and Explanation:

The journal entries are shown below:

1. Right of use assets$350,000      ($56,394 × 6.2064)

           To lease liability  $350,000

(Being the lease liability is recorded)

Refer to the present value annuity due factor table for 6.2064

2. Lease liability $56,394

        To cash $56,394

(being cash paid is recorded)

3. Lease liability $32,905

   Interest expense  $23,489    {($350,000 - $56,394) × 8%}

            To Cash   $56,394

(Being cash paid is recorded)  

4. Amortization expense $43,750   {$350,000 ÷ 8 years)

         To Right of use asset $43,750

(Being the amortization expense is recorded)

3 0
3 years ago
Larry owns a successful business called Super Car-Hire. He plans to sell it to Bob. Bob assumes that he can keep up the high rev
Lubov Fominskaja [6]

Answer:

B is the correct option.

Explanation:

This principle follows the assumption that a company will remain in business in the future. It means that the business will not have to halt operations or to liquidate the assets in the future. According to this principle, the accountant postpones the recognition of some expenses till a later period, and in that period the company will be in business will be effectively using the assets. It is a very important concept, without this, the company will not be able to prepay the expenses.

6 0
3 years ago
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 65,00
balandron [24]

Answer:

1. The total incremental cost of making 65,000 units of RX5

Total Direct Material + Total direct Labour + Variable Overhead cost

Total Direct Material = 65,000 units * $5 = $325,000

Total Direct Labour = 65,000 units * $9 = $585,000

Variable Overhead cost = $65,000 * 10 = $650,000. $650,000 *(1- 80%) = $650,000 *20% = $130,000

Hence, The total incremental cost of making = $325,000 + $585,000 + $130,000 = $1,040,000

2. The total incremental cost of buying 65,000 units of RX5 =

The cost to buy the units = 65,000 units * $18 = $1,170,000

3. The company should be making the RX5 because the total cost of making the 65,000 unit of RX5 is lesser than cost of buying the 65,000 units of RX5

4 0
3 years ago
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