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Anna11 [10]
4 years ago
7

James Krieg has finished law school but has unsuccessfully taken the bar exam twice. Krieg is running low on patience and cash.

He has begun writing wills to see him through this time of crisis and is charging $200 per will. Some of his will clients have refused to pay Krieg, and he wishes to take them to a small claims court. Which of the following statements is true?
a. Krieg could recover the fees since the licensing after the bar exam is simply to raise funds.
b. Krieg's agreements are void.c. Krieg could recover the fees on a quasi-contract theory.
d. Krieg's agreements are voidable.
Business
1 answer:
katrin [286]4 years ago
8 0

Answer:

B. Krieg's agreements are void

Explanation:

The bar examination, is the examination that is administered by a jurisdiction's bar association that a lawyer needs to pass before being admitted to the bar of that jurisdiction.

It is the Examination that Lawyers need to pass before they can be given license to practice law in a jurisdiction.

Since Kreig is yet to write his Bar Examination successfully, whatever documents he writes and signs as a Lawyer is void, because,he doesn't have the right to practice law in his Jurisdiction yet.

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Sheridan Company originally issued 4800 shares of $10 par value common stock for $144000 ($30 per share). Sheridan subsequently
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Answer:

Following journal entries would be recorded:

Cash A/C                                                                Dr. $144000

    To Common Stock (4800 shares × 10)                                   48000

    To Paid in capital  A/C (4800 shares × 20)                             96000

(Being issue of common stock recorded)

Treasury Stock A/C (470 × 25)                       Dr. 11750

       To Cash A/C                                                            11750

(Being purchase of 470 shares recorded)

Cash A/c  (470 shares × 30)                           Dr 14100

     To Treasury Stock A/C (470 × 25)                                 11750

     To Paid in capital from treasury stock                             2350

(Being sale of treasury stock being recorded)

6 0
4 years ago
Sheridan Company is planning to sell 900 boxes of ceramic tile, with production estimated at 670 boxes during May. Each box of t
lisabon 2012 [21]

Answer:

$3,685

Explanation:

Calculation to determine the total amount to be budgeted for manufacturing overhead for the month

Using this formula

Total budgeted for manufacturing overhead =(Estimated boxes)(Quarter Hour Direct labor)(Per hour cost)*(Overhead applied rate)

Let plug in the formula

Total budgeted for manufacturing overhead =(670) (.25) ($20) (1.1)

Total budgeted for manufacturing overhead =$3,685

Therefore the total amount to be budgeted for manufacturing overhead for the month is $3,685

5 0
3 years ago
Stock A's stock has a beta of 1.30, and its required return is 12.00%. Stock B's beta is 0.80. If the risk-free rate is 4.75%, w
kvv77 [185]

Answer:

c. 9.21%

Explanation:

In this question, we apply the Capital Asset Pricing Model (CAPM) formula which is shown below

Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

For stock A

12% = 4.75% + 1.30 × market risk premium

12% - 4.75% = 1.30 × market risk premium

7.25% =  1.30 × market risk premium

So, the market risk premium = 5.58%

For Stock B, required rate of return would be

= 4.75% + 0.80 × 5.58%

= 4.75% + 4.464%

= 9.214%

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8 0
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