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fenix001 [56]
3 years ago
12

Portraits. Belinda, a famous portrait painter, agreed to paint Harry's portrait for $5,000. She also agreed to paint the portrai

ts of Michelle's two Welsh Corgi dogs, Baby and Bree. Michelle agreed to pay Belinda $12,000 for the portraits. Belinda charged Michelle more because dogs annoyed her. Belinda met the spoiled dogs, and they really got on her nerves. Plus, she was behind on finishing Harry's portrait. Belinda, therefore, proceeded to assign the right to receive the money for the dog portraits and the duty to paint the dog portraits to her assistant, Fred. He eagerly accepted and painted the portraits. As payment for amounts she owed him for various duties, Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties. Belinda finished the portrait of Harry and called him to come and pick it up. Meanwhile, a disgruntled secretary who disliked Belinda told both Michelle and Harry about the agreements with Fred. Michelle was furious and refused to pick up the portrait or pay anyone. Harry likewise refused to pay for his portrait claiming that the right to payment could not be assigned. What would be the most likely result if Fred sues Michelle for the $12,000 payment?
Business
1 answer:
Otrada [13]3 years ago
6 0

Answer:

Fred will win because the right to receive payment could be validly assigned.

Explanation:

all contract gives room for some certain rights and duties. By an obligation, the individual whose right it is to receive payment will transfer the right to collect that same payment from the same person (obligor) to any other person (third person).

Going by the question above Belinda, the well-known portrait painter is the obligee who transfers the right to receive payments from the obligors to a third party named Fred who is stands as an assistant. It was clearly stated in the question that “Belinda also assigned to Fred the right to receive payment from Harry. Neither the contract Belinda had with Harry nor the contract she had with Michelle expressly prohibited assignment or delegation of contractual rights and duties.”

Going by this above statement then one can confirm it very clear that the payment could be assigned and receiving the payment is within Fred’s right.

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GI Designs, a copper furniture manufacturer, increased the price on its copper tabletops by 20 percent for three months to see w
romanna [79]

Answer:

The correct answer is letter "C": independent variable.

Explanation:

Independent variables are propositions in a study which effects help to analyze certain behavior of a dependent variable. The dependent variable does not change but the independent variables do. There may be more than one independent variable for only one dependent variable.

In the case, <em>the dependent variable is the change in sales at GO designs while the independent variable is the price increase.</em>

3 0
3 years ago
Prior to adjustment at August 31, Salary Expense has a debit balance of $322,200. Salaries owed but not paid as of the same date
Phantasy [73]

Explanation:

The Journal entry is shown below:-

a. Salary Expense Dr,             $2,550

          To salaries payable                $2,550

(Being accrual of salary is recorded)

b. Income summary Dr,           $324,750

        To Salary expense                    $324,750

($322,200 + $2,550)

(Being closing of salary expense is recorded)

4 0
3 years ago
The relevant range is that range of activity: Group of answer choices where a company achieves its maximum efficiency. where uni
Vikki [24]

Answer: where management expects the firm to operate.

Explanation:

Company planning is the duty of management and and they plan, they try to use a certain range of activity so that they can better predict how the company will go. That range is therefore the range that the management of the company expects the firm to operate.

When production actually starts, management will try to either keep to that range or exceed it so as to meet or exceed expectations. And even if they don't meet this expectation, they use this relevant range to compare to the actual range for performance evaluation.

4 0
2 years ago
Carla Vista Company purchased equipment that cost $3980000 on January 1, 2020. The entire cost was recorded as an expense. The e
ICE Princess25 [194]

Answer:

$1,800,402

Explanation:

Cost = $3,980,000

Lifespan = 9 yrs

Residual Value = $122,000

Depreciation per year = (Cost - Residual Value)/life

Depreciation per year = (3,980,000 - 122,000)/9

Depreciation per year = 3,858,000 / 9

Depreciation per year = $428,667

So, Tax saved = 40% of $428,667 = $171,467

Depreciation per year not considered = 3 yrs * $428,667 = (+)$1,286,001

Tax saved due to Depreciation = 3 yrs * $171,467 = (+)$514,401

So, retained earnings was understated by $1,286,001 + $514,401 = $1,800,402

3 0
3 years ago
Tee Time Golf Resort plans to use famous Kauri wood from New Zealand for parts of the interior of the magnificent clubhouse at i
Tju [1.3M]

Answer:

correct option is C. it's a good time to buy the wood.

Explanation:

given data

slab = 10 feet

cost Tee Time =  $5,000

$500 US dollars = $738 NZ dollars

solution

If they import timber from New Zealand. Tea Golf Resort pays less than $ 5000 to import Wood from New Zealand at the current exchange rate. This is a good time for them to import forests

we get here current exchange rate of 1 dollar that is as

US $500 = NZ $738

so $1 = \frac{738}{500}  

$1 = NZ  $1.476

current exchange rate is $1 = NZ $1.476

so

10 foot slab costs $5000

so Tee Golf Resort will pay is

Tee Golf Resort pay = \frac{5000}{1.476}  

Tee Golf Resort pay = $3387.53

so correct option is C. it's a good time to buy the wood.

3 0
3 years ago
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