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Liono4ka [1.6K]
3 years ago
5

Gates entered into a contract with Mennonite Deaconess Home & Hospital for the installation of a new, "one-ply roofing syste

m." The work was to be done by an installer chosen by Mennonite but approved by Gates. When the work was nearly complete, but before Gates had approved the work, the hospital paid the installer 90 percent of the balance due. After inspection, Gates did not approve, and in addition, the roof leaked and had to be replaced at the hospital’s expense. The hospital claimed that Gates was responsible for the quality of the work. Gates claimed that he could not be held accountable because service contracts are not covered by the Uniform Commercial Code. Did the contract involve goods or services, and will Gates be held responsible? [Mennonite Deaconess Home & Hospital Inc. v. Gates Engineering Co., 363 N.W.2d 155 (Nebraska)]
Business
1 answer:
Whitepunk [10]3 years ago
6 0

Answer:

The Supreme Court of Nebraska ruled that the core of the contract involved the sale of goods, since the Hospital was purchasing the one-ply roofing system. Even though labor was included, the contract was predominantly about a good, not a service. E.g. when you purchase a car, someone sells it to you, but the core of the contract is the sale of the car.

In other words, Gates was responsible for selling a roofing system (good) and he is responsible for any defects.

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A worker received $5 for a daily wage in 1930, which has the equivalent value of $63.24 today. if the cpi was 17 in 1930 what is
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17 which should equal 215.01 I think- sorry if I’m wrong
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3 years ago
The 2016 financial statements of CVS Health Corporation reported the following information (in millions): 2016 2015 Net sales $1
Serggg [28]

Answer:

option (D) 10.34

Explanation:

The  inventory turnover ratio for 2016 will be given as:

= [Cost of goods sold ] ÷ Average inventory

also,

Cost of goods sold in 2016 = $148,669

Average inventory = [ 2015 inventory + 2016 inventory ] ÷ 2

= [ 14,001 + 14,760 ] ÷ 2

= 28761 ÷ 2

= 14,380.5

Therefore,

The  inventory turnover ratio for 2016 = $148,669 ÷ 14,380.5

= 10.34

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The answer is option (D) 10.34

8 0
3 years ago
United Resources Company obtained a charter from the state in January of this year. The charter authorized 206,000 shares of com
amid [387]

Answer:

United Resources Company

Stockholders section of the balance sheet at the end of the year:

Common Stock:

Authorized 206,000 shares at $3 par value

Issued 88,000 shares                                 $264,000

Additional Paid-in Capital

($968,000 -364,000 + 136,000)                   740,000

Treasury Stock ($78,000 - 24,000)               (54,000)

Total Equity                                                 $950,000

Explanation:

a) The authorized common stock is stated in the balance sheet as a memorandum record.  It does not form part of the calculation of equity since all the shares have not been issued.

b) Issued common stock is valued at 88,000 * $3 = $264,000

c) The difference in the par value and the issue price is recorded in the Additional Paid-in Capital Account.  It is also where the increases and decreases in Treasury stock above or below par values are recorded.

d) Treasury Stock is a common stock contra account which records the repurchase and resale of common stock.  Two methods are used.  One recognizes the whole cost of treasury stock in the Treasury Stock account.  It is called the costing method.  The other method, called the par-value method, recognizes the above and below par value in the Additional Paid-in Capital.

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What are 3 categories of soft skills?
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Personal, social and methodical skills
5 0
3 years ago
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Answer:

$535,000

Explanation:

The computation of the Latham's basis in the building is shown below:

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Since we have to compute for the building so we do not considered the purchase value of land and the loan amount

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