An example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
<h3>What is a
liquidated damages?</h3>
A liquidated damages refers to a pre-estimated probable loss that would be suffered from the late completion of a contract.
In conclusion, the example of accepting liquidated damages is when valerie backed out of the deal and Kenneth kept the earnest deposit.
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Answer:
Product development.
Explanation:
The product development stage is the initial part of a product life cycle. Market research is carried out at this stage to determine how well the product will sell in the market.
Product development stage involves the creation of a particular product from an idea and then introducing it into the market. Getting feedback about the product from test users is very important in this stage.
Answer:
Cash provided by the financing activities $3,600
Explanation:
The computation of the cash flows from financing activities is as follows;
Cash flows from financing activities
Additional short-term borrowings $20,000
Less cash dividend paid -$16,400
Cash provided by the financing activities $3,600
The purchase of short term stock should be shown in the investing activities while on the other hand the interest paid is to be shown in the operating activities
Answer:
$30
Explanation:
2/10 net 30 means the supplier extends 30 days credit to the purchaser. If the payment is made between 10 days and 30 days, no discount is allowed.
However if the payment is made within 10 days, 2% of net purchase price would be allowed as a discount by the supplier.
Now, Net Purchases = Total invoice price - freight - purchases returns
Net Purchases = $2150 - $150 - $ 500
Net Purchases= $1500
Rate of discount = 2%
Purchases discount = 2% of 1500= $30 will be allowed if the payment is made within the discount period.