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GenaCL600 [577]
3 years ago
5

Alatan owns a building supply store in Russ County. His trade extends throughout River City, the largest city in Russ County, bu

t not beyond the county limits. He sells his store to Hilary and, as part of the transaction, Alatan agrees not to engage in the same type of business anywhere in River City for a period of four (4) years. In this case:
a) The geographic restraint is reasonable.
b) This agreement is unreasonable.
c) The agreement unduly interferes with the interest of the public.
d) Both (b) and (c).
Business
1 answer:
jeka57 [31]3 years ago
3 0

Answer:

A) The geographic restraint is reasonable.

Explanation:

Generally non-compete agreements are done between employees and their employer and in order for them to be enforceable they must be reasonable and the employee must be compensated in some way (usually when the contract is signed a special compensation must be set, like a high salary or bonus, etc.).

In this case, the non-compete agreement is made between the seller and buyer of a business. The agreement includes a specific geographic restriction and lasts 4 years, so the agreement would be considered valid by a court. Generally if the non-compete agreement was between an employee and his/her employer and lasted that long it wouldn't be enforceable, but for a business a 4 year period is reasonable.

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Patricia is not bound to perform because the agency relationship was not disclosed.  Due to the details not being disclosed about Patricia's identity, shes not bound to perform her full duties. When working on a business deal it is necessary to provide any and all details about who you are to the other person in the transaction.

5 0
3 years ago
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At December 31, Hawke Company reports the following results for its calendar year.
kodGreya [7K]

The adjusting entries for acknowledging the bad debts would be:

a). Bad Debts Expense                  $50 640

Allowance for Doubtful Accounts                     $50 640

b). Bad Debts Expense                 $48089.1

Allowance for Doubtful Accounts                     $48089.1

Bad debts:

  • Bad debts are described as debts that are unable to be recovered from their respective debtors.

The key reasons for this could be:

  • The debtor is bankrupt and cannot pay the amount.
  • The debtor flees away and thus, can't be compelled to pay.

The given amounts are obtained as follows:

a). Given that,

Bad debts is 1.5% of credit sales.

Credit Sales = $3,376,000

Bad debts = 1.5% of $3,376,000

∵ Bad debts = 1.5/100 * $3,376,000

= $50 640

b). Given that,

Bad debts = 1 % of total sales.

Total Sales = Credit sale + Cash sale

= $3,376,000 + $1,432,910

= $4808910

Bad debts = 1% of 4808910

∵ Bad debts = 1/100 * $4808910

= $48089.1

Learn more about 'Journal entries' here:

brainly.com/question/17439126

3 0
3 years ago
Benji works for a private firm that has been contracted to examine the books of accounts of the sanborn corporation. after she h
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I would say that the work that Benji conducted on the books of the Sanborn Corporation would be classified as a financial audit because she checked their figures, examined their accounting procedures and prepared a report so this would qualify as an audit. 
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3 years ago
Crystal Charm Company makes handcrafted silver charms that attach to jewelry such as a necklace or bracelet. Each charm is adorn
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Answer and Explanation:

The computation is shown below:

1.

Direct Material Price Variance = Actual material cost - Actual Quantity × Standard Price

For Silver

= $13848 - 577 × 23

= $577 (U)

For Crystal

= $2926 - 7700 × 0.40

= $154 (F)

Direct Material Quantity Variance = (Actual Quantity - Standard Quantity) × Standard Price

For Silver

= (577 - 1530 × 0.40) × 23

= $805 (F)

For Crystal

= (7700 - 1530 × 5) × 0.40

= $20 (U)

2.

Direct Labor Rate Variance = Actual Cost - Actual Hours × Standard Rate

= $36915 - 3210 × 12

= $1605 (F)

And,

Direct Labor efficiency Variance = (Actual hours - Standard hours) × Standard Rate

= (3210 - 1530 × 2) × 12

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6 0
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LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

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