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anygoal [31]
3 years ago
10

Claudia contracts with Friendly Paving Co. to install a new driveway. To pay for this work, Claudia transfers to Friendly Paving

Co. her right to receive payment from Clifford for a loan she made him. Friendly Paving Co. is the:
Business
1 answer:
Olenka [21]3 years ago
7 0

Answer:

Creditor beneficiary

Explanation:

The first contract is between Claudia and Clifford, in which Clifford is the debtor to the creditor Claudia.

This means that Claudia holds a legal contractual right to receive a payment from Clifford.

Now there is a second contract between Claudia and Friendly Paving Co. this is basically the agreement to install driveway. For this Claudia has to pay to Friendly Paving Co.

For this if she transfers her right of receiving the payment from Clifford towards Friendly Paving co. then she announces Friendly Paving Co. to be a creditor beneficiary.

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Two brothers wish to open an account to trade stocks, with one brother depositing $100,000, and the other brother depositing $20
Lostsunrise [7]

Answer:

The account should be opened as a Joint account with tenancy in common. Option C.

Explanation: This type of account is one that is owned by at least two people and in which there is no rights of survivorship.

In this type of account, the members do not want their investments to go to other members of the joint account upon their death, but they specify in a will how the investment will be distributed to their beneficiaries.

Joint account with tenancy in common can hold an unequal amount of investment among members, but they still have equal rights to the account.

4 0
3 years ago
Sheffield Corp. is planning to sell 1070 boxes of ceramic tile, with production estimated at 800 boxes during May. Each box of t
Zarrin [17]

Answer:

Results are below.

Explanation:

Giving the following information:

Production= 800 boxes

Each box of tile requires 0.50 hours of direct labor.

Employees of the company are paid $17 per hour.

<u>First, we need to determine the number of hours required:</u>

Number of hours= 800*0.5= 400 hours

<u>Now, the total direct labor cost:</u>

Direct labor cost= 400*17= $6,800

5 0
3 years ago
The skills, tools, and processes used to plan, execute, and control the elements of a project are a part of __________.
Musya8 [376]

Answer:

success

Explanation:

3 0
3 years ago
ervis sells $75,000 of its accounts receivable to Northern Bank in order to obtain necessary cash. Northern Bank charges a 5% fa
Nadusha1986 [10]

Answer:

Debit Cash account      $71,250

Debit Factoring charge   $3,750

Credit Accounts receivable  $75,000

Explanation:

Factoring accounts receivable involves the sale of the account receivable to another party such that the debt is now payable to that party. This is usually done to ease liquidity and at a charge.

When receivables are factored,

Debit Cash account

Debit Factoring charge

Credit Accounts receivable

Charge on factoring =  5/100 × $75,000

= $3,750

Amount to be received = $75,000 - $3,750

= $71,250

3 0
3 years ago
Gale Corporation manufactures windsocks. The business recently decided to adopt an ABC accounting system. The following activiti
Vladimir [108]

Answer:

The total cost of producing the 20,000 windsocks is: $270,000.

Explanation:

COMPUTATION:

MATERIAL HANDLING  OF PARTS .

$1.00

3X20,000

TOTAL OVERHEAD COST = 60,000.

MACHINING MACHINE HOURS.

60/HR

1/minute

5 X 20,000

100,000.

PACKAGING NUMBER OF  FINISHED UNITS .

$2.00

20,000 X 2

40,000.

TOTAL OVERHEAD COST  =  60,000 + 100,000 + 40,000 = $ 200,000.

Total Materials and labor

3.50 per windstocks  

3.5 x 20,000

= 70,000.

The total cost of producing the 20,000 windsocks is:

= $200,000  + 70,000

$270,000 total cost.

7 0
3 years ago
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