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3 years ago

(a) When an anti-assignment clause exists in a contract, a court will not enforce it because it is against public policy.

Business

1 answer:

lidiya [134]3 years ago

4 0

Answer:

a. FALSE

b. A contract cannot forbid the assignment of the right to receive funds . Assignments also cannot be restricted for the transfer of real estate , also called a restraint against alienation . A contract cannot prohibit the assignment of checks or promissory notes, also called negotiable instruments . The right to receive damages in a contract for the sale of goods also can be assigned, even if the contract forbids it.

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4. Savings are particularly important to young people because:

katen-ka-za [31]

Answer:

I think it's D

Explanation:

because savings are in the beginning of their financial lives,”

I hope this helped u :)

3 0

2 years ago

YellowCard Company manufactures accessories for iPods. It had the following selected transactions during 2017. (Note: For any pa

jarptica [38.1K]

Answer:

warrant expense 51,000 debit

cash 6,000 credit

warranty liability 45,000 credit

--to record warrant-related accounts--

interest payable 16,667 debit

interest expense 3,333 debit

cash 20,000 credit

--to record interest expense for the loan and installment--

Manufacturing Facilities 5,192,772 debit

Cash 5,000,000 credit

Restoration Liability 192,772 credit

-- to record the payment to contractor--

Explanation:

Warranty: the additional expected expense are considered warranty laibility

Loan: we previously recorded accrued interest from March 1st to Dec 31th

That is: 200,000 x 10% x 10/12 months = 16,667 payable

At February 28th we recognize the last two month of interest

200,000 x 10% x 2/12 months = 3,333 expense

in total we have 16,667 + 3,333 = 20,000 cash outlay

Facility: the asset should add to all the cost necessary to acquire it:

As the conversion into community center is mandatory it is part of the cost:

present value of the 500,000 in ten years:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity $500,000.00

time 10.00

rate 0.10000

$\frac{500000}{(1 + 0.1)^{10} } = PV$

PV 192,771.6447

Total cost:

5,000,000 cashg + 192,772 liability = 5,192,772

4 0

3 years ago

Beckingham Sports is an American sporting goods company. Based on $400,000 spent on market research and $600,000 spent on consul

Cerrena [4.2K]

Answer:

The correct answer is E)

Explanation:

Capital budgeting is an accounting method that corporations use to decide which planned acquisitions of fixed assets will be approved and which should be refused.

Some examples of Capital Expenditures include:

Construction of an additional building
Procurement of delivery vehicles
Procurement of new equipment
Rehabilitation of existing equipment

If one of the criteria for classification under Capital Expenditure is that it must be in the plan, then none of the above items mentioned in the question will fly.

Monies have already been expended on the options A, B, and C.

Option D is an offer to purchase an existing asset, not a planned investment. Therefore it also does not qualify.

Hence the correct answer is E.

Cheers!

3 0

3 years ago

The right side of the balance sheet shows the firm's liabilities and stockholders' equity. Which of the following best describes

Leokris [45]

Answer:

1. Equity is the difference between the company's assets and liabilities.

2. D. $83

Explanation:

Req. A

We know,

The accounting equation is

Total asset = total liabilities + total stockholders' equity

Therefore, total asset - total liabilities = total stockholders' equity

So, we can say that equity is the difference between the company's assets and liabilities. However, equity cannot be claimed before the liabilities. Therefore, the option "A" is the correct answer.

Req. B

Now Inc.

Statement of retained earnings

For the year ended, December 31, 20XX

Beginning retained earnings (Last year) $527

Add: Net Income (Current year) 176

Less: Dividend (Balancing) (83)

Ending retained earning (Current year) $620

Calculation: $(527 + 176 - 620) = $83

Therefore, the option "D" is the correct answer.

3 0

3 years ago

On April 1, 2016, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April:A.

kompoz [17]

Answer:

The solution and the calculation is shown on the first , second , third and fourth uploaded image

Explanation:

6 0

2 years ago