Answer:
A. Represents stock ownership in another company and sometimes pays dividends.
Answer:
The correct answer is C: likely that a court will allow the rescission based on a mistake of fact.
Explanation:
Brian was not aware of that fact that the horse is incapable of breeding at the point he buys it, but Larson assures Brian the horse is healthy. In this light, if Brian sues to cancel the contract with Larson, the court will allow it based on a mistake of fact. This way the court will reduce any civil liability or criminal culpability because Larson might not know that the horse cannot breed, although he is certain that the horse is healthy.
Answer:
$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.
Explanation:
If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:
Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30
Dr Accounts receivable 2,600
Cr Sales revenue 2,600
Dr Cost of goods sold 1,700
Cr Merchandise inventory 1,700
Answer:
Cerry Blossom Product Inc
the break-even quantity = Fixed cost / contribution margin
contribution margin on the other hand is sales price minus variable cost
compoutation of contribution margin
DVD Equipment
$ $
Price 11 15
variable cost <u> 4 </u> <u> 7</u>
<u> 7 </u> <u> 8</u>
unit sold 18,000 4,500
sales ratio 4 1
weigheted average contribution margin = ($7*4) + ($8*1)
4 + 1
= $36/5
= $7.2
Overall break-even quantity = $84,000/$7.2
= 11,667
Break-even unit :
DVD = (4 * 11,667)/ 5
= 9,334units
Equipment sets = ( 1 * 11,667)/5
= 2,333 units
Explanation:
this question is on multi- products.
The overall break-even quantity of the firm will be computed first using the weighted average contribution margin of the firm and common fixed cost.
The break-even quantity will later be divided between the two product based on their sales ratio.
