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nordsb [41]
4 years ago
5

Gunnar, age 12, is paid $8 a week by his parents, bjorn and anna, to clean his room, fold and put away his laundry, take out the

trash, empty the dishwasher, and tend the sheep after school. on saturday, he offered to clean his room for additional time playing xbox. his room was very messy. which is true?
Business
2 answers:
daser333 [38]4 years ago
7 0

I guess the correct answer here is,

Cleaning his room would not be adequate consideration for the additional Xbox time.

Taya2010 [7]4 years ago
7 0

Answer:

Cleaning his room would not be adequate consideration for the additional Xbox time.

Explanation:

According to a different source, these are the options that come with this question:

  • Cleaning his room would be adequate consideration in exchange for playing Xbox.
  • Cleaning his room would not be adequate consideration for the additional Xbox time.
  • The contract is void as Gunnar is a minor.
  • None of the above.

In this example, we learn that the $8 that Gunnar is paid a week include the task of cleaning his room. Therefore, if Gunnar wants to do something in addition to this in order to earn more time with his Xbox, he needs to do something that is extra. In other words, a task that he was already meant to do cannot be adequate consideration for an extra reward.

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In computing depreciation, salvage value isa. the fair market value of a plant asset on the date of acquisition.b. subtracted fr
kirill115 [55]

Answer:

c. an estimate of a plant asset's value at the end of its useful life

Explanation:

The salvage value or the residual value is the estimated value of the fixed asset which can be received at the end of its useful life. So, neither it is a fair market value of a plant asset , nor it is deducted from the accumulated depreciation.

The treatment of the residual value under the straight-line method or any other method is shown below:

The depreciation expense under the straight-line method is shown below:

= (Original cost - residual value) ÷ estimated life in years

The residual value should always be deducted from the original cost of fixed asset

5 0
3 years ago
Ann is trying to decide which one of two job offers she will accept. Several items are presented below:
Daniel [21]

Answer:

c. (1) (3), (5

Explanation:

Based on the information if she is trying to make decision on which one of two job offers she will accept the items that are IRRELEVANT or not important to her decision will be the BASIC SALARY, MOVING ALLOWANCE and INCURRED JOB SEARCH COSTS reason been that what is most relevant to her is how she will choose the best job among the two job offers she has at hand .

7 0
3 years ago
The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2016, trial
dlinn [17]

Answer:

purchase of supplies 5,600

insurance expense      2,300 debit

           prepaid insurance            2,300 credit

Explanation:

(1) What was the cost of supplies purchased during December?

invneotry identity:

beginning supplies + purchase = ending supplies + expense

the left side are the input. The supplies could come from previous prior or be pruchase.

The right side the outputit could be consumer or kept at stock

3,100 + p = 4,600 + 3,600

purchase = 4,600 + 3,600 - 3,100 = 5,100

(2) What was the adjusting entry recorded at the end of December for prepaid insurance?

beginning insurance 7,600

ending insurance     (5,300)

adjustment:                2,300

there was insurance expired for the value of 2,300

6 0
3 years ago
What are the elements of a compensation package
sammy [17]

well there is 10 key elements of a compensation package which are..

base salary

annual/ quarterly bonus

other bonus

stock options

stock units

401k contribution

health and wellness

life and accident insurance

other insurance

perks

8 0
4 years ago
On January 1, 2020, Klosterman Company issued $500,000, 10%, 10-year bonds at face value. Interest is payable annually on Januar
Ede4ka [16]

Answer and Explanation:

Journal entry to record the issuance of the bonds.

A.

Jan 1

Dr cash $500,000

Cr bonds payable $500,000

B. Journal entry to record the accrual of the interest

Dec 31 2020

Dr Interest expense $25,000

Cr Interest Payable $25,000

C. Journal entry to record the payment of interest on January 1, 2021.

Dr Interest expense $25,000

Cr Cash $25,0000

Interest expense $500,000×10%×1/2=$25,000

3 0
3 years ago
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