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STatiana [176]
3 years ago
6

On May 1, 1972, Mix, CPA, entered into an oral contract with Dell to provide certain accounting services to Dell. The contract w

as fully performed by both parties in 1974. On April 25, 1988, Dell commenced a breach of contract action against Mil claiming that Mil had improperly performed the accounting services. Mix's best defense to the action would likely be the
a. Parol evidence rule
b. Statute of limitations
c. Statute of frauds
d. Lack of consideration
Business
1 answer:
zloy xaker [14]3 years ago
5 0

Answer:

B

Explanation:

123

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Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm’s t
posledela

Answer:

Based on the DuPont equation and given information, ROE of Harrington Inc is 13.818%.

Explanation:

We have to find the total equity and total debt of Harrington Inc in order to apply the DuPont equation for finding ROE because net income, sales of Harrington Inc. are already given.

- To find Harrington Inc's total debt, apply the Debt-to-capital formula: The Harrington Inc's total debt/The Harrington Inc's total capital = 45% =>  Harrington Inc's total debt = The Harrington Inc's total capital * 45% = $250,000 x 45% = $112,500;

- To find Harrington Inc's total equity, apply the accounting equation Asset = Liabilities + Owner's Equity: The Harrington Inc's total equity = The Harrington Inc's total asset - The Harrington Inc's total debt = $250,000 - $112,500 = $137,500;

- Using the Dupont equation, calculate the ROE as followed:

(NI/Sales)* (Sales/ Total assets) * (Total assets/ Total common equity) = (19,000/325,000) * ( 325,000/ 250,000) * (250,000/137,500) = 13.818%.

- Thus, the ROE = 13.818%.

5 0
3 years ago
Last year Bold and Best accounted for 56.5% of Baldwin's sales. Over the next few years, what should worry Baldwin's management
DaniilM [7]

Answer:

Explanation:

4 worries about Bold and Best (BB) are:

- Demand for BB may fall in the next few years, as customers are now less interested in purchasing BB or there is another substitute product for BB which is available in the market.

- Input costs/Production cost for BB may rise in the next few years, may be because of shortage of raw materials.

- The decline in BB sales may affect Baldwin's profitability as a whole because BB's revenue is currently the largest portion of the total revenue.

- Real purchasing power of customers fall because of a rise in expected inflation in the economy, which will lead to a fall in sales of BB.

6 0
3 years ago
Definition: This is when an owner is fully responsible for the debts and losses of a company.
lorasvet [3.4K]

Answer:

is it a manager??

Explanation:

4 0
2 years ago
The economy's self-correcting mechanism (market forces) a. tends to push unemployment toward a specific point called the natural
lisabon 2012 [21]

Answer:

b. works better at correcting inflationary gaps than recessionary gaps.

Explanation:

The self correcting mechanism is a automatic process in which the aggregate market eliminates an inflationary gap created by a short-run equilibrium that is greater than full employment through increases in wages and other resource prices.

8 0
3 years ago
TB MC Qu. 08-104 Marlow Company purchased a point of... Marlow Company purchased a point of sale system on January 1 for $3,400.
Fittoniya [83]

Answer:

$680

Explanation:

Calculation to determine What would be the depreciation expense for the first year of its useful life using the double-declining-balance method

Depreciation expense=3400*(100%/10 * 2)

Depreciation expense=3400*.2

Depreciation expense= 680

Therefore What would be the depreciation expense for the first year of its useful life using the double-declining-balance method is $680

3 0
2 years ago
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