Answer:
Answer explained below
Explanation:
1) Yes, as the initial consideration was only for the aircraft. Since this upgrade is additional work performed by the company, the client should be billed.
2) As the consideration for the aircraft is yet to be paid and FBO is still in possession of the aircraft, the ownership has not passed into the hands of the customer yet. Thus, even though he may file for bankruptcy, it doesn't impact anything.
3) A written agreement should be entered into with the customer and the bank which states that the disbursements from the bank should be made in 3 equal monthly instalments to the FBO, post release of the aircraft to the customer. Any delay in these will be construed as default by the bank with the necessary legal implications involved for claiming the requisite amount by the FBO from the bank.
4) In this case, the ownership of the aircraft has passed to the customer prior to it defaulting. Thus, the bank will be paid first from the proceeds of the bankruptcy sale of the aircraft.
Answer:
Explanation:
The journal entry is shown below:
Allowance for Doubtful Accounts A/c Dr $10,200
To Account receivable A/c - Oakley Co $2,600
To Account receivable A/c - Brookes Co $7,600
(Being the written off amount is recorded)
Simply we debited the allowance for the doubtful account and credited the account receivable account
Answer:
B. False. It's called trade payables.
Explanation:
Answer:
a. The agreement will be discharged due to true impossibility.
Explanation:
Since in the question, it is given that Baldrick was hired for three nights per week for an entire year. Due to food poisoning, he dies after nine months of agreement.
So, it is a contract in which two parties are involved which bound them to perform their dues and responsibilities.
Since he died so automatically the contract lapse because of true reasons or impossibility as it is impossible to fulfill the contract.
Hence, option A is correct.
Answer:
Checking emails frequently takes the focus away from the work. Usually, when the managers engage in strategic planning processes, it takes time and systematic thinking and development of plans.
However, emails are a vital part of business communications in this Era. And it should be given priority as well. However, having a specific time frame to read emails is essentials as this takes the focus and attention away.
Explanation: