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3 years ago

A contract may be considered legal although it?

Business

1 answer:

lisov135 [29]3 years ago

3 0

Might be illegal idk or it could be something you should not do

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Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of di

Kaylis [27]

Answer:

Dr Retained Earnings 500,000

Cr Com. Stock Dividend Distributable 100,000

Cr Add’l Paid – in Capital, Com. Stock 400,,000

Explanation:

Preparation of the journal entry

Dec. 31

Dr Retained Earnings 500,000

[(100,000 x (50/100)* 10 market price]

Cr Com. Stock Dividend Distributable 100,000

[(100,000 x (50/100)*2 par value ]

Cr Add’l Paid – in Capital, Com. Stock 400,,000

(500,000 – 100,000 )

6 0

3 years ago

Kate's 24-Hour Breakfast Diner menu offers one item, a $5.00 breakfast special. Kate's costs for servers, cooks, electricity, fo

REY [17]

Answer:

The correct answer is option c.

Explanation:

The price of Kate's breakfast special is $5.

The average variable cost is $3.95.

The average fixed cost is $1.25.

The average total cost

= $3.95 + $1.25

= $5.20

The price is not covering the average total cost but it is covering the average variable cost. The firm can continue operating in the short run but stop production in the long run.

6 0

3 years ago

Able Company’s unit manufacturing cost is:Variable Costs $50Fixed Costs 25A special order for 1,000 units has been received from

wel

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Unitary cost:

Variable Costs= $50

Fixed Costs= $25

A special order for 1,000 units has been received from a foreign company. The unit price requested is $55.

If the order is accepted, unit variable costs will increase by $2 for additional freight costs.

Because it is a special offer, we will not take into account the fixed costs.

Unitary cost= 50 + 2= $52

Effect on income= 1,000*(55 - 52)= $3,000 increase

5 0

3 years ago

After a devastating hurricane, households try to secure loans to repair and rebuild. Other things equal, this would lead toan in

Elza [17]

Answer:

Other things equal, this would lead to:

an increase in interest rates of home repair loans as the demand for those loans increased.

Explanation:

With an increase in the demand for house repair loans, as a result of the devastation wrought by the hurricane, the rate of interest on loans normally increases with demand. The concept of scarcity of loanable funds (or limited resources) is the root cause of this increase in house loan rate. The reverse becomes the case when there is a decrease in demand.

5 0

3 years ago

Which service department is most likely to use square feet of floor space occupied as the allocation base to assign its costs to

prisoha [69]

Rent and maintenance expenses are the service department that would most likely to use square feet of floor space occupied as the allocation base to assign its costs to operating departments.

<h3>What is cost allocation?</h3>

Cost allocation is a financial term, that is used to share costs that are common among different departments, services or inventory items.

In other words, cost allocation is the method of assigning costs to cost objects.

Learn more about cost allocation here: brainly.com/question/15681457

#SPJ1

4 0

2 years ago