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nadezda [96]
3 years ago
13

Bay City Construction, Inc., a contractor, asks Cool Electric, a subcontractor, to provide certain services. Nothing is said abo

ut payment. Cool provides the services, but Bay City refuses to pay. In Cool’s suit to recover, the chief issue is most likely to be whether these parties had​:
A. a formal contract
B. an express contract
C. an implied contract
D. a voidable contract
Business
1 answer:
Paraphin [41]3 years ago
7 0

Answer:

C. an implied contract

Explanation:

Based on the scenario being described it can be said that the chief issue is most likely to be whether these parties had​ an implied contract. This type of contract refers to when two parties have an agreement but there is no written contract existing regarding this agreement, instead the law enforces the contract and makes sure that the details are fair to both parties.

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Answer:

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explanation:

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"which business function is displayed with the transaction code va03"
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Answer: Sales order is displayed with the transaction code va03.

VA03 is a standard SAP transaction code that works with R/3 SAP systems.

It is one of the nine transaction codes that are associated with sales orders that help organizations deal with sales data, create, alter and display sales orders, displays and monitors lists of sales orders and compare sales and purchase data.

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Discuss the role of trade in our life​
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3 0
3 years ago
A company purchased a delivery van for $28,400 with a salvage value of $3,900 on september 1, year 1. it has an estimated useful
Lunna [17]

The deprecation expense in year 1 is $1225.

<h3>What is the depreciation expense in year 1?</h3>

Depreciation is a method that is used to expense the carrying value of an asset. Straight line depreciation is a depreciation method that allocates the deprecation expense evenly across the useful life of the asset.  

Straight line depreciation expense is a function of the useful life of the asset, the cost of the asset and the salvage value of the asset.

Straight line depreciation expense = (number of months from Sept to Dec / number of months in a year) x (Cost of asset - Salvage value) / useful life

(3/12) x [(28,400 - 3900) / 5]

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To learn more about straight line depreciation, please check: brainly.com/question/6982430

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8 0
2 years ago
Problem 6-10 (Algo) Long-term contract; revenue recognition over time [LO6-8, 6-9] [The following information applies to the que
NeX [460]

Answer:

revenue recognized

  • 2021 = $3,000,000
  • 2022 = $4,700,000
  • 2023 = $2,300,000

gross profit

  • 2021 = $420,000
  • 2022 = $658,000
  • 2023 = $124,200

Explanation:

Percentage of                      2021              2022               2023

completion method

Cost incurred in                   $0          $2,580,000    $6,622,000

previous year

+ Cost incurred              $2,580,000 $4.042,000    $2,175,800

during the year

Total cost incurred        $2,580,000 $6,622,000    $8,797,800

+ Estimated cost to       $6,020,000  $1,978,000            $0

be incurred

Total estimated cost    $8,600,000 $8,600,000     $8,797,800

to be incurred

Percentage of                   30%               77%                  100%

completion

 Total revenue        $10,000,000  $10,000,000    $10,000,000

Total revenue         $3,000,000    $7,700,000     $10,000,000

recognized (% of completion x total revenue)

- Revenue recognized       ($0)     ($3,000,000)    ($7,200,000)

in previous year    

= revenue recognized  $3,000,000   $4,700,000     $2,300,000

in current year

gain/loss                                2021              2022           2023

Revenue                        $3,000,000  $4,700,000    $2,300,000

- Cost incurred             ($2,580,000) ($4,042,000)   ($2,175,800)

Gross profit                     $420,000     $658,000       $124,200

5 0
3 years ago
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