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3 years ago

Certain types of contracts must be in writing pursuant to the statute of _____.

Business

1 answer:

marta [7]3 years ago

5 0

Certain types of contracts must be in writing pursuant to the statute of "frauds".

A state statute that necessitates certain kinds of agreements to be written, expected to guarantee that terms of imperative contracts are not overlooked, misconstrued, or fabricated, reason for this is to smother misrepresentation, fraudulent cases, some of the time envisioned in light of ensuing occasions or basically invoked.

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Preferred stock has a feature that allows it to share with common shareholders in any dividends paid in excess of the percent or

____ [38]

Answer:

Participating

Explanation:

Preferred stock has a feature that allows it to share with common shareholders in any dividends paid in excess of the percent or dollar amount stated on the preferred stock. This feature is called: PARTICIPATING PREFERRED STOCK

This is because Participatory preferred stock gives an extra profit assurance to stockholders. Typically, all preferred stocks have a fixed dividend rate, which is the main benefit.

However, in the event where the issuing company meets specific financial targets, holders of participating stocks will get more dividend payments above the normal fixed rate.

8 0

2 years ago

On December 31, 2021, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease

densk [106]

Answer: $5,222,400

Explanation:

Here is the complete question:

On December 31, 2021, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease are $2,100,000 (including $100,000 annual executory costs) and are due on December 31 of each year. The first payment was made on December 31, 2021, and the second payment was made on December 31, 2022. The five lease payments are discounted at 10% over the lease term. The present value of lease payments at the inception of the lease and before the first annual payment was $8,756,727. The lease is appropriately accounted for as a finance lease by Harris. In its December 31, 2022 balance sheet, Harris should report a lease liability of

a. $6,340,000.

b. $6,240,000.

c. $5,706,000.

d. $5,222,400

In its December 31, 2022 balance sheet, Harris should report a lease liability of:

Present value of annual lease payments = $8,756,727

Less: Annual lease payment on December 31, 2021 = $2,100,000

Less: Annual lease payment on December 31, 2022 = $2,100,000

Add: Interest expense on lease liability = $665,673

Lease liability = $5,222,400

Note that the interest expense on lease liability is calculated as:

= (8756727 - 2100000) × 10%

= $6,656,727 × 0.1

= $665,672.7 = $665,673

6 0

2 years ago

Desert Company issued $15,000,000 of 8% bonds on May 1, 2020, and received cash totaling $13,308,942. The bonds pay interest sem

balu736 [363]

Answer:

Desert Company

The TOTAL dollar amount of discount that was amortized during the entire first year (5/1/20 through 4/3/21) these bonds were outstanding is:

= $65,447.

Explanation:

a) Data and Calculations:

Face value of bonds = $15,000,000

Issue value (proceeds) 13,308,942

Discount on the bonds $1,691,058

Coupon rate = 8%

Effective interest rate = 10%

Period of bonds = 8 years

November 1, 2020:

Interest expense = $665,447 ($13,308,942 * 5%)

Cash payment = $600,000 ($15,000,000 * 4%)

Discount amortized $65,447

Bond outstanding value = $13,374,389 ($13,308,942 + $65,447)

May 1, 2021:

Interest expense = $668,719 ($13,374,389 * 5%)

Cash payment = $600,000 ($15,000,000 * 4%)

Discount amortized $68,719

Bond outstanding value = $13,443,108 ($13,374,389 + $68,719)

4 0

2 years ago

Industrial Equipment Supply is a new business. During its first year of operations, credit sales were $ 45 comma 000and collect

Andrei [34K]

Answer:

$600

Explanation:

The written down amount is $725, which is bad debt and provision is not required for it.

The increase in allowance for bad debt is always Written Off by using the provision and at the year end the amount that must have been written off is $600 which is the increase in the provision. This means that the Allowance for Bad Debts is $600.

3 0

3 years ago

Which of the five broad definitions of public opinion involves "rhetorical construction"?

Alexxandr [17]

Answer: Fiction

Explanation: According to some theorists, public opinion is a rhetorical construction. This means that it is a phantom, having no real link to "the public" as citizens. These theorists go on to claim that politicians and journalists tend to state that public opinion regarding a certain issue is concluded without any available evidence, or public's influence. However this is only one form of the definition of public opinion.

Other types of definitions include:

Public opinion is an aggregation: Journalists and politicians claim public opinion is the total of a lot of individual opinions.

Public opinion reflects the majority's beliefs: Theorists claim that public opinion is the equivalent of the values and beliefs of the majority.

Public opinion is discovered in groups clashing: Some theorists believe public opinion lies in power dynamics within a group, and how it coexists, or fails to do so, with other groups.

Public opinion reflects media: Theorists believe that public opinion is best gathered from what politicians, journalists and other influential elites believe.

6 0

3 years ago

Certain types of contracts must be in writing pursuant to the statute of​ _____.

Certain types of contracts must be in writing pursuant to the statute of _____.