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jekas [21]
3 years ago
15

Cajun Cookin' sits on a large landscaped lot. Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take c

are of the landscape. They pay $200 per month for this service. After two weeks had gone by with no service, Brian called the company only to find out that the owner and the crew had decided to take a vacation and would not be back to do the landscaping for another two weeks. Lovely Landscapes:
Business
1 answer:
LUCKY_DIMON [66]3 years ago
3 0

Options:

A.) has discharged its obligation to Brian.

B.) is liable for specific performance.

C.) will likely have to pay Brian damages if Brian decides to sue them.

D.) will not likely have to pay Brian damages if Brian decides to sue them.

Answer: C.) will likely have to pay Brian damages if Brian decides to sue them.

Explanation: According to the information presented in the scenario above, Lovely Landscapes are contracted to Brian and Soria and as such responsible for mowing the lawn of Brian's landscape. Lovely landscape's failure to show up or contact Brian and Soria explaining why they won't be able to fulfil their contract terms could be attached to a breach of contract which could involve Lovely Landscapes paying Brian and Soria damages for their no-show if Brian intends to pursue a case or sue Lovely landscapes.

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An accountant has encountered a perplexing financial reporting issue related to the private college for which he is preparing fi
frez [133]

Answer:

c) AICPA accounting and auditing guide, Audits of Colleges and Universities and/or AICPA SOP 74-8, Financial Accounting and Financial Reporting by Colleges and Universities.

Explanation:

As accounting and auditing guide which is issued by AICPA for health care 3 gives full guidance on how to deal with financial reporting issues for the hospital so the accountant would look into it for any problem related to it.

8 0
3 years ago
Whispering Winds Corp. has the following transactions during August of the current year. Aug. 1 Issues shares of common stock to
k0ka [10]

Answer:

Aug. 1 Issues shares of common stock to investors in exchange for $10,800.

<u>Accounting equation:</u>

Asset + 10,800

Equity +10,800

<u>Journal entry:</u>

cash   18,000 debit

  common stock   18,000 credit

Aug. 4 Pays insurance in advance for 3 months, $1,200.

<u>Accounting equation:</u>

Asset  + 1,200

Assets <u>- 1,200</u>

Net              0

<u>Journal entry:</u>

prepaid rent    1,200 debit

          cash              1,200 credit

Aug. 16 Receives $730 from clients for services rendered.

<u>Accounting equation:</u>

Asset  + 730

Equity +730

<u>Journal entry:</u>

cash       730 debit

  revenues   730 credit

Aug. 27 Pays the secretary $580 salary

<u>Accounting equation:</u>

Asset  - 580

Equity - 580

<u>Journal entry:</u>

salaries expense  580 debit

         cash                    580 credit

Explanation:

We need to disclose how the impact in the accounting equation and the journal entry should be done:

Aug 1st the common stock is an equity account that is increasing

we receive cash that is an asset

August 4th we are using our cash to pay in advance the rent.

this gives a right to use the rental space for 3-months thus, it is not an expense is a new asset. There is no change in the accounting equation only the composition of assets changed.

August 16th we recognize earnings through revenues account this increases the equity of the company as well as assets.

August 27th in this case we pay the salaries which are an incurred cost, therefore, expense. This decreases equity.

We also use cash making assets to decrease as well.

6 0
3 years ago
Find the net price for an order of gift items with a list price $24,000 less trade discounts of 30/25/15. use the net price, com
Wittaler [7]
Price of the items = $24000 
Discounts =30%, 25%, 15%. 
Sale amount after discount,
 100 - 30 = 70% = 0.7
 100 - 25 = 75% = 0.75
 100 - 15 = 85% = 0.85
 Multiplying we get the discount = 0.7 x0.75 x 0.85 = 0.44625
 So the net price = 0.44625 x 24000 = $10,710
7 0
3 years ago
If a customer credit score is within 2 points of the minimum of what the business will accept, should the business extend credit
Eduardwww [97]

Answer:

Explanation:

I wouldn't.

The business has drawn a rigid line in the sand. It has to maintain its standard. I might try and make a deal with the customer. "Come up with x% for a down payment."

If the score is high (like over 750), I would likely stretch my standard. 750 is a pretty high score and if you have that kind of a number, you know how to pay things back.

5 0
3 years ago
The market for economists in Greenland has recently experienced an increase in the number of economists employed and an increase
gulaghasi [49]

Answer:

The answer is "Option C"

Explanation:

Please find the complete question in the attached file.

Its market to economics remained constant, while the market demand increased because the supply increasing will cause amounts to decline but salaries to rise.  

Its same reverse relationship refers to the market for products and services. As demand rises and supply continues to increase, its greater supply will result in higher balance prices or conversely. It supply-demand rising but dropping until a reasonable price is reached.  

4 0
3 years ago
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