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iVinArrow [24]
3 years ago
11

Elise enters into a contract to purchase jd's house and then changes her mind. jd sues her for breach of contract. the lawsuit f

or a breach of contract will be governed by:
Business
1 answer:
ziro4ka [17]3 years ago
4 0
<span>The lawsuit for this type of breach of contract will be governed by the common law of contracts. Contract laws relate to most agreements between people or groups, including oral agreements.</span>
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On January 1, Wei company begins the accounting period with a $45,000 credit balance in allowance for doubtful accounts. a. On F
GrogVix [38]

Answer:

The Journal entry and their narrations is shown below:-

Explanation:

1. Allowance for doubtful accounts Dr,      $9,800  

      To Account receivable-Oakley Co.  $2,400

       To Account receivable-Brookes Co.            $7,400

(Being write off is recorded)

2. Account receivable-Oakley Co. Dr,          $2,400  

           To Allowance for doubtful accounts       $2,400

(Being amount reinstated is recorded)  

3. Cash Dr,                                                      $2,400  

      To  Account receivable-Oakley Co.   $2,400

(Being cash received is recorded)  

7 0
3 years ago
Read 2 more answers
Give four reason as to why being an entrepreneur is beneficial than a doing a job​
anastassius [24]

Answer:

Hope this helps!

4 reasons:

Explanation:

1) Being an entrepreneur is beneficial because it helps you get to know yourself better. You get to be your own boss.

2) Entrepreneurs get to make their own schedule. You can work for flexible hours.

3) You get to be more independent. Taking entrepreneurship will grant you freedom.

4) Choosing to be an entrepreneur is a big risk. This means your taking a challenge in your life. You'll make yourself stronger!

The best part though? It is a big satisfaction when you succeed, yeah and you'll definitely be proud of yourself.

5 0
3 years ago
Transactions that affect earnings do not necessarily affect cash.Identify the effect, if any, that each of the following transac
xeze [42]

Answer:

Effects of Transactions on Cash and Net Income:

                                                                                  Cash     Net Income

(a) Purchased $104 of supplies for cash.               -$104         $0

(b) Recorded an adjusting entry to record use

of $40 of the above supplies.                                    $0        -$40

(c) Made sales of $1,432, all on account.                   $0        $1,432

(d) Received $995 from customers in payment

of their accounts.                                                   $995         $0

(e) Purchased capital asset for cash, $2,635.      -$2,635      $0

(f) Recorded depreciation of building for period

used, $710.                                                                  $0        -$710

Explanation:

a) Data and Analysis:

a. Supplies $104 Cash $104

b. Supplies Expense $40 Supplies $40

c. Accounts receivable $1,432 Sales revenue $1,432

d. Cash $995 Accounts receivable $995

e. Capital asset $2,635 Cash $2,635

f. Depreciation Expense $710 Accumulated Depreciation $710

b) Only transactions that affect Cash have cash effects.  Transactions that affect net income are either revenue or expenses.  All other transactions that do not affect cash or net income are analyzed according to their basic effect on the accounting equation of assets = liabilities + equity.

3 0
2 years ago
The Unique Bookshelf Company is considering the purchase of a custom delivery van costing approximately $50,000. Using a discoun
masha68 [24]

Answer:

$1,200

Explanation:

Given that

Purchase of a customer delivery van = $50,000

discount rate = 20%

Present value of future cost savings = $51,200

Yield = 20%

Based on the above information, as per the net present value the initial cost of the equipment should not be more than the present value of cash inflows  i.e. $51,200

So the more than amount is

= $51,200 - $50,000

= $1,200

3 0
3 years ago
An example of a shortage is limited amounts of______.
Alika [10]

Limited amounts of food available because items are sold out.

A shortage exists when supply cannot keep up with demand.

7 0
3 years ago
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