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Luba_88 [7]
2 years ago
8

Cut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an e

xtra $100,000. Diners agrees to pay. IF CCC offers, as a reason for the extra $100,000, that ordinary business expenses have increased, the agreement is:
enforceable as an accord and satisfaction
enforceable because of unforeseen difficulties
unenforceable as an illusory promise
unenforceable due to the preexisting duty rule
Business
1 answer:
oksano4ka [1.4K]2 years ago
6 0

Answer:

Enforceable because of Unforeseen Difficulties

Explanation:

Unforeseen difficulties can make Cut-Rate Construction Company (CCC) to ask for an extra financial obligation from DIners Restaurant Inc in the process of a contract between the two parties on building a restaurant

Unforeseen difficulties are difficulties that come up in a contract that no party in the contract could have foreseen. However, it becomes the basis on which a further obligation may arise which is enforceable either voluntarily by the parties involved or by a court of law, should it become a litigation issue.

Unforeseen difficulties basically allow the modification of an existing contract based on complications that may arise during the course of the performance of the contract.

In order to modify the existing contract to accommodate the unforeseen difficulties, a novation ( replace the existing with a superseding one) or a Rescission (stopping the contract before it goes further) can be applied.

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Crane Corporation's computation of cost of goods sold is:
slava [35]

Answer:

16.64 days

Explanation:

Given the above information, we will calculate the average days to sell inventories with the formula below;

Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100

Ending inventory = $72,000

Cost of goods sold = $432,800

Then, Average days to sell inventories

= [$72,000 / $432,800] × 100

= 16.64 days

Therefore, the average days to sell inventory for Fry are 16.64 days

5 0
3 years ago
Splish Corporation has retained earnings of $721,100 at January 1, 2020. Net income during 2020 was $1,562,700, and cash dividen
Vitek1552 [10]

Answer and Explanation:

The preparation of the retained earnings statement is presented below:

Opening retained earning balance $721,100

Add: prior period adjustment $86,370

Add: net income $1,562,700

Less: dividend paid $79,000

Ending retained earnings $2,291,170

The above items would be added and deducted that increase and decrease the retained earnings balance

4 0
3 years ago
2. You now have Birr 2,000,000 in the bank earning interest of .5 percent per month. You need Birr 3,000,000 to make a down paym
vovangra [49]

The number of months that it would take me to accumulate the Birr 3,000,000 is 50 months.

<h3>How many months would it take to accumulate 3,000,000?</h3>

The equation that represents the total amount saved :

Total amount =amount invested +  total interest earned + total amount earned

Total interest earned = amount invested x time x interest rate

2,000,000 x 0.005 x m = 10,000m

Total amount earned = savings per month x total number of months

10,000m

3,000,000 = 2,000,000 +  10,000m + 10,000m

3,000,000 - 2,000,000 = 20,000m

1,000,000 = 20,000m

m = 50 months

To learn more about interest, please check: brainly.com/question/26164549

#SPJ1

5 0
1 year ago
Wendy is a college student in her sophomore year. she is single with no kids, has vegetation paid for by scholarship. what type
AlekseyPX

Answer:

none of the above

Explanation:

6 0
3 years ago
Read 2 more answers
A firm has sales of $50,000, EBIT of $10,000, depreciation of $4,000, and fixed assets increased by $2,000. If the firm's tax ra
sergij07 [2.7K]

Answer:

$8,000

Explanation:

Data provided in the question:

Sales = $50,000

EBIT = $10,000

Depreciation = $4,000

Increase in Fixed assets = $2,000

Tax rate = 30%

Increase in net operating income = $1,000

Now,

PAT = EBIT - Tax

= 10,000 - (30% of EBIT)

= $10,000 - (30% of $10,000)

= $10,000 - $3,000

= $7,000

Operating cash flow = PAT + depreciation

= $7,000 + $4,000

= $11,000

Therefore,

Free cash flow

= Operating cash flow - Increase in Fixed asset - Net working capital

= $11,000 - $2,000 - 1,000

= $8,000

4 0
3 years ago
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