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Lelechka [254]
3 years ago
6

Bob is hired to do computer sales for an electronics store. He agrees that if he leaves his employment, he will not work for ano

ther computer store within twenty-five miles for a period of two years. This type of agreement is called a(n) _____.Multiple Choicea. covenant not to competeb. implied-in-law contractc. quasi-contractd. termination agreemente. public policy agreement
Business
1 answer:
Simora [160]3 years ago
4 0
A. covenant not to compete
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On February 24, 2020, Allison's building, with an adjusted basis of $2,986,000 (and used in her trade or business), is destroyed
astra-53 [7]

Answer:

As a calendar-year taxpayer, Allison must make the new investment by December 31, 2020 to qualify for the nonrecognition election.

Explanation:

a) Data and Calculations:

Adjusted basis of building = $2,986,000

Insurance reimbursement = $3,881,800

Gain from loss = $895,800 ($3,881,800 - $2,986,000)

Investment in new building = $3,493,620

Purchase of stock = $388,180 ($3,881,800 - $3,493,620)

b) Allison is expected to make the election for the nonrecognition of the gain from loss in his Federal Tax return in the taxable year in which the gain with respect to the loss of the building is realized.  The return must set forth the computation of the gain and other required details.

6 0
2 years ago
Bramble Corporation factors $252,500 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathl
attashe74 [19]

Answer:

Explanation:

Before passing the journal entry we have to do the calculations which is shown below:

The accounts receivable is $252,500

Financial charge = 2% of accounts receivable = $252,500 × 2% = $5,050

Recourse obligation fair value = $4,940

The loss on receivables sold would be = $5,050 + $4,940 = $9,990

Reserve amount =  4% of accounts receivable = $252,500 × 2% = $10,100

Now the journal entry would be shown below:

Cash A/c Dr $237,350

Reserve A/c Dr $10,100

Loss on receivables sold A/c Dr $9,990

      To Recourse liability                             $4,940

       To Accounts receivable                      $252,500

(Being the sale of receivables with recourse is recorded)

4 0
3 years ago
A fast-growing form of foreign direct investment is sovereign wealth funds (SWFs). Why do these investments by governments with
PolarNik [594]

Answer:

Large firm can gain control of natural resources.

Explanation:

Investments by governements with surplus cash flows do worry trade expert as believe as investing in large firm by goverment will take away control of natural resouces by government and corporate will have more control on natural resources, sensitive technologies of nation and management control.

Generally, sovereign wealth funds (SWFs) is governement funded investment to improve economy and develop nation and it´s citizen, however, a fast-growing form of foreign direct investment is sovereign wealth funds will have adverse affect on country´s citizen and resources nation have.

5 0
3 years ago
A bakery makes a limited number of croissants each day for sale in its coffee shop. The croissants cost $1.00 each to produce an
slamgirl [31]

Answer:

$0.40 ; $1 and $71.43%

Explanation:

The computation is shown below:

Excess cost is

=  Unit cost - Salvage Value

= $1 - $0.60

= $0.40

The shortage cost is

= Selling value - unit cost

= $2 - $1

= $1

And, the optimal service level is

= Shortage cost ÷ (Shortage cost + excess cost)

= $1 ÷ $1.60

= 71.43%

Basically we applied the above formulas

5 0
3 years ago
Gomez runs a small pottery firm. He hires one helper at $14,500 per year, pays annual rent of $7,500 for his shop, and spends $1
uysha [10]

Answer:

a). Accounting profits=$6,000

b). Economic profit=-$6,000

Explanation:

a). The accounting profits for Gomez's pottery firm can be expressed in the form;

Accounting profits-Total monetary revenue-Total monetary expenses

where;

Total monetary revenue=$86,000

Total monetary expenses=excludes opportunity cost=wages+rent+materials+equipment=(14,500+7,500+18,000+40,000)=$80,000

replacing;

Accounting profits=(86,000-80,000)=$6,000

Accounting profits=$6,000

b). Gomez's economic profit

Economic profit=Total revenue-total costs

where;

Total revenue=(86,000+5,000+6,000)=97,000

Total costs includes opportunity cost=(80,000+23,000)=103,000

replacing;

Economic profit=(97,000-103,000)=-$6,000

Economic profit=-$6,000

6 0
3 years ago
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