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VMariaS [17]
3 years ago
7

Lyn files a suit against Karl. Karl denies Lyn’s charges and sets forth his ownclaim that Lyn breached their contract and owes K

arl money for the breach.Karl’s claim is
a.counterclaim.
b.motion for judgment on the pleadings.
c.motion for summary judgment.
d.motion to dismiss
Business
1 answer:
dexar [7]3 years ago
5 0

Answer:

a. Counterclaim

Explanation:

Counterclaim is a claim by a defendant (the person be sued) against the plaintiff (the person who sues first).

Lyn is the plaintiff, who first sued Karl (the defendant). Karl's claim against the original plaintiff (Lyn) is an example of a counterclaim.

Another example is counterclaim by the city of Sandy Springs against Holder Construction Group, the company that built the city of Sandy Springs’ new City Springs complex.

Holder Construction Group earlier sued Sandy Springs city over disagreements on payments for the work.

The city filed a counterclaim to a superior Court, claiming that Holder Group should be denied payments until all work is done and for breach of contract, negligent construction and fraud.

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8 0
2 years ago
Mars inc., a manufacturer of cat food in texas, places an ad in a publication aimed at veterinarians. the ad explains why they s
ioda
The correct option from the given options is "<span>a promotional push strategy".

In the above situation, Mars Inc. utilized a promotional push strategy. Projects intended to influence the exchange to stock, merchandise, and advance a maker's items are a piece of a limited time push procedure. The objective of this technique is to push the item through the channels of appropriation by forcefully offering and elevating the thing to the affiliates, or exchange.
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7 0
3 years ago
Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual in
k0ka [10]

Answer:

Nov 05

Dr Merchandise inventory 9,000

Cr Accounts payable 9,000

Nov 07

Dr Accounts payable 350

Cr Merchandise inventory 350

Nov 15

Dr Accounts payable 8,650

Cr Merchandise inventory 346

Cr Cash 8,304

Explanation:

Preparation of Journal entries

Based on the information given we were told that on Nov. 5 the company Purchased 900 units of product at the amount of $10 per unit which means that the Journal entry will be:

Nov 05

Dr Merchandise inventory 9,000

Cr Accounts payable 9,000

(900 units *$10 per units)

Based on the information given we were told that the company on Nov. 7 Returned 35 defective units from the the month of November 5 purchase in which they received full credit which means that the Journal entry will be:

Nov 07

Dr Accounts payable 350

Cr Merchandise inventory 350

(35*$10 per units)

Based on the information given we were told that the company on Nov. 15 Paid the amount of money due from the month of November 5 purchase in which they minus the return on November 7 which means that the Journal entry will be:

Nov 15

Dr Accounts payable 8,650

(9,000- 350)

Cr Merchandise inventory 346

(4%*8,650)

Cr Cash 8,304

(8,650-346)

8 0
3 years ago
Compute the discounted payback statistic for Project C if the appropriate cost of capital is 7 percent and the maximum allowable
Lelechka [254]
The answer i think is rejected because the cash flow is not stable
6 0
2 years ago
Goodwill is: Group of answer choices Amortized over the greater of its estimated life or forty years. Only recorded by the selle
Tems11 [23]

Explanation:

Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable. Goodwill does not include identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, identifiable asset, or liability regardless of whether the entity intends to do so. Goodwill also does not include contractual or other legal rights regardless of whether those are transferable or separable from the entity or other rights and obligations. Goodwill is also only acquired through an acquisition; it cannot be self-created. Examples of identifiable assets that are goodwill include a company’s brand name, customer relationships, artistic intangible assets, and any patents or proprietary technology. The goodwill amounts to the excess of the "purchase consideration" (the money paid to purchase the asset or business) over the net value of the assets minus liabilities. It is classified as an intangible asset on the balance sheet, since it can neither be seen nor touched. Under US GAAP and IFRS, goodwill is never amortized, because it is considered to have an indefinite useful life. Instead, management is responsible for valuing goodwill every year and to determine if an impairment is required. If the fair market value goes below historical cost (what goodwill was purchased for), an impairment must be recorded to bring it down to its fair market value. However, an increase in the fair market value would not be accounted for in the financial statements. Private companies in the United States, however, may elect to amortize goodwill over a period of ten years or less under an accounting alternative from the Private Company Council of the FASB.

8 0
2 years ago
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