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goblinko [34]
2 years ago
10

CrossCountry Trucking & Transport enters into a contract with Discount Outlet Stores to load, transport, deliver, and unload

the cargo that Discount designates. CrossCountry's offer to perform, when the company is ready, willing, and able to do so, is:_______
a. absolute.
b. complete.
c. tender.
d. substantial.
Business
1 answer:
Mila [183]2 years ago
6 0

Answer:

C) tender.

Explanation:

In contract law, a tender offer to perform is conditioned to the moment when the other party is willing and ready to perform as well. In this case, CrossCountry signed a contract, but the contract will be valid when the other party (Discount Outlet Stores) needs their services. If the other party does not require their services, CrossCountry is not able to perform nor demand performance.

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Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,690,200 $
Scrat [10]

Answer:

amount of Bad Debt Expense for 2019 = $92,000

Explanation:

A bad debt expense is a uncollectible receivable amount incurred on a credit sale to a customer, who is no longer able to pay the debt, due to bankruptcy or other financial problems. Companies make provision for these kind of credit losses in the allowance for doubtful accounts, and hence records the amount used from the allowance for doubtful accounts as the bad debt expense.

In our example, the allowance for doubtful account for 2019 is $92,000, hence since it was used to settle part of the credit losses, this becomes the bad debt expense.

3 0
3 years ago
Effective collaboration requires a proactive and holistic strategy that integrates business goals and technology potential. T/F
Whitepunk [10]

Answer:

True

Explanation:

Collaboration in organizations requires a strategy capable of using all the resources availables to reach the goals provided by the strategic planning. In a globalized world these goals need to be manage with speed and effciency, here is were the technology displays all the real potential of organizations.

4 0
3 years ago
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances:
valentinak56 [21]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $40,000  

    To Common stock $2,000

    To Additional paid in capital $38,000

(Being issue of common stock is recorded)

2. Accounts receivables Dr, $18,800  

      To Service revenue $18,800

(Being service revenue is recorded)

3. Supplies Dr, $6,500  

       To Accounts payable $6,500

(Being supplies is recorded)

4. Treasury stock Dr, $20,900

[1,100 × $19]  

       To Cash $20,900

(Being treasury stock is recorded)

5, Accounts payable Dr, $18,100  

        To Cash $18,100

(Being cash paid is recorded)

6. Cash Dr, $50,700  

       To Service revenue $50,700

(Being cash received is recorded)

7. Cash Dr, $18,200  

      To Accounts receivables $18,200

(Being cash received is recorded)

8. Dividends Dr, $3,380

(16,000 + 2000 - 1,100) × $0.20

     To dividends payable $3,380

(Being dividends declared is recorded)

9. Cash Dr, $14,700

[700 × $21]

     To Treasury stock $13,300

[700 × $19]

       To Additional paid in capital $1,400

(Being cash is recorded)

10. Salaries expense Dr, $43,600  

        To cash $43,600

(Being salary expenses is recorded)

11. Utilities expense Dr, $7800  

      To utilities payable $7800

(Being  utilities expense is recorded)

12. Supplies expense Dr, $8,900

[$9,100 + $6,500 - $6,700]

       To supplies $8,900

(Being supplies expenses is recorded)

13. Depreciation expense Dr, $1,900

[$80,000 - $11,600] ÷ 3 × 1 ÷ 12  

       To Accumulated depreciation $1,900

(Being depreciation expense is recorded)

14. Income tax expense $2,700  

       To Income tax payable $2,700

(Being income tax expenses is recorded)

6 0
3 years ago
If the U.S. capital markets are not informationally efficient, ______.A. the markets cannot be allocationally efficientB. system
Firdavs [7]

Answer:

A. the markets cannot be allocationally efficient

Explanation:

If the U.S. capital markets are not informationally efficient, the markets cannot be allocationally efficient

5 0
3 years ago
The following information relates to the assets of Westfield Semiconductors as of December 31, 2019. Westfield uses the straight
Salsk061 [2.6K]

Answer:

See the explanation below.

Explanation:

Given the following:

Asset    Acquisition-Cost   Expected-Life    Residual-Value   Time-Used

Land        $104,300                 Infinite               $100,000            10 years

Building     430,000               25 years                30,000             10 years

Machine     285,000                5 years                  10,000              2 years

Patent          80,000                10 years                     0                    3 years

Truck            21,000             100,000 miles           3,000         44,000 miles

Therefore, we have:

Building annual depreciation = ($430,000 - $30,000) / 25 = $16,000

Building net book value (NBV) = $430,000 - (16,000 * 10) = $270,000

Machine annual depreciation = ($285,000 - 10,000) / 10 = $27,500

Machine NBV = $285,000 - ($27,500 * 2) = $230,000

Patent annual amortization = $80,000 / 10 = $8,000

Patent net written down value = $80,000 - ($8,000 * 3) = $56,000

Truck accumulated depreciation = ($21,000 - 3,000) * (44,000 / 100,000) = $7,920

Truck NBV = $21,000 - $7,920 = 13,080

Westfield Semiconductors Balance Sheet (Partial) as of December 31, 2019.

<u>Details                                                             $</u>

Property, plant, and equipment:

Land (Cost)                                                104,300

Building (NBV)                                          270,000

Machine (NBV)                                         230,000

Truck (NBV)                                             <u>    13,080</u>

Total PPM                                                  617,380

Intangible assets:

Patent (NRV)                                              <u> 56,000</u>

Total tangible and intangible assets    <u> 673,380</u>

4 0
3 years ago
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