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kirill115 [55]
2 years ago
5

What does free contract mean?

Business
1 answer:
lozanna [386]2 years ago
7 0
In economics, free contract is the concept that people may decide what agreements they want to enter into. Acontract may be described as freewhen it is free from force or fraud.
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Trinity College sold season tickets for the 2019 football season for $400,000. A total of 8 games will be played during Septembe
Softa [21]

Answer:

Trinity College sold 8 Games of ticket in $400,000  

Till October 31 the game sorted out = 5 for example (2+3)  

Measure of unmerited income on October 31

Unearned ticket revenue = (Amount received in advance × remaining month) / total month

Unearned ticket revenue = ($400,000 × 3) / 8

Unearned ticket revenue = $150,000

Adjusting Journal entry on October 31:

Debit: Unearned revenue = $250,000

Credit: Revenue = $250,000

(To record transfer of unearned revenue, to revenue account)

3 0
3 years ago
Read 2 more answers
The government might enact a price ceiling in order to accomplish what
uysha [10]
A limit of spending of the government, 
5 0
3 years ago
Read 2 more answers
Selected transactions for Thyme Advertising Company, Inc. are listed here. Describe the effect of each transaction on assets, li
SVEN [57.7K]

Answer:

Explanation:

1. Issued common stock to investors in exchange for cash received from inventors  - Increase in assets (cash) and an increase in equity  (Capital)

2. Paid monthly rent  - The decrease in equity and decrease in assets (cash)

3. Received cash from customers when service was rendered  - Increase in  assets (cash) and an increase in  equity

4. Billed customers for services performed  - Increase in assets (Accounts Receivable) and an increase in equity

5. Paid dividend to stockholders  - The decrease in equity and decrease in assets (cash)

6.Incurred advertising expense on account  - Decrease in equity and an increase in liability (Accounts Payable)

7.Received cash from customers billed in  - Increase in the asset (cash) and decrease in the asset (Accounts Receivable)

8.Purchased additional equipment for cash  - Increase in the asset (Equipment) and decrease in an asset (cash)

9.Purchased equipment on account  - Increase in the asset (equipment) and an increase in liabilities (Accounts payable)

5 0
3 years ago
The shareholders need to earn 20%. The firm can borrow at 5%. The risk free rate is 2%. The tax rate is 40%. Find the weighted a
lbvjy [14]

Answer:

11.5%

Explanation:

The computation of the weighted average cost of capital is shown below:

= Weightage of debt × cost of debt × ( 1- tax rate) + (Weightage of  common stock) × (cost of common stock)

= (0.50 × 5%) × ( 1 - 40%) +  (0.50 × 20%)

= 1.5% + 10%

= 11.5%

Basically we multiplied the weightage of capital structure with its cost so that the weighted average cost of capital could come

3 0
3 years ago
Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on Dec
DaniilM [7]

Answer:

See the journal entry below

Explanation:

Retained earnings A/c Dr $500,000

Dividends payable A/c Cr $500,000

Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.

NB.

Amount = Share × Price per share

Given that;

Share = 100,000

Price per share = $5

Amount

= 100,000 × $5

= $500,000

4 0
3 years ago
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