Answer:
B. discharged
Explanation:
Based on the information provided within the question it can be said that Bottling's contractual obligation to Chug is breached. This term refers to when a party in a contract does not meet the obligations that they agreed upon for whatever reason. Which, since Bottling decided to not perform their part of the contract due to prices becoming to high then they are breaching the contract, regardless whether or not it is due to external factors.
Answer:
Net Income = $1,250
Explanation:
Benning Co.
Income Statement
For the Month Ended July 31, 2010
Particulars $ $
Revenues 6,000 (1)
Expenses:
Wages Expense 2,600 (2)
Supplies Expense 1,000 (3)
Utilities Expense 600
Insurance Expense 400
Depreciation Expense 150
<em>Total expenses </em><u><em> 4,750 </em></u>
Net Income $1,250
<u><em>Note:</em></u>
1. Revenues = 5,500 + 500 (Adjustment 5) = $6,000
Performed services not recorded will add.
2. Wages expense = $2,300 + 300 (Adjustment 3) = $2,600
Accrued wages not paid will add to the wages expense.
3. Supplies Expense = $1,200 - 200 (Adjustment 2) = $1,000
Supplies expense includes supplies on hand will decrease the supplies expense.
Answer:
Dr Seller Account $100
Cr Buyer Account $100
Explanation:
The property sold on 15th of the month by Mr. A to Mr. B and the utility bill received later of this month would be split between Mr. A and Mr. B. The basis for the split of the utility bills would be the share that Mr. A utilized the facilities and in this scenario, it is $100. Hence the buyer Mr. B has receivable of $100 and the seller Mr. A has a liability payable of $100 amount.
Hence the buyer will debit the bill by $100 receivable and the Seller will debit the bill owed to buyer by $100.
Answer:
$24,220
Explanation:
After tax cashflow formula as follows;
AT cashflow = Income before taxes(1- tax) + annual depreciation amount
Depreciation amount is added back because even though it is an expense deducted to arrive at the income before tax, it is not an actual cash outflow.
Annual depreciation amount = $200,000/ 20 = $10,000
AT cashflow = 18,000*(1-0.21) + 10,000
= 14,220 + 10,000
= 24,220
Therefore, Mariposa’s expected cash flow after taxes per year is $24,220
