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Vladimir79 [104]
3 years ago
12

Sheffield Realty Corporation purchased a tract of unimproved land for $115,500. This land was improved and subdivided into build

ing lots at an additional cost of $72,366. These building lots were all of the same size but owing to differences in location were offered for sale at different prices as follows.
Group No. of Lots Price per Lot
1 9 $6,300
2 15 8,400
3 17 5,040
Operating expenses for the year allocated to this project total $38,220. Lots unsold at the year-end were as follows.
Group 1 4 lots
Group 2 6 lots
Group 3 1 lots
Required :
1. At the end of the fiscal year Sheffield Realty Corporation instructs you to arrive at the net income realized on this operation to date.
Net income $ _________.
Business
1 answer:
monitta3 years ago
4 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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Market researchers for a local bakery determined that Jewish people consume 63% of the portion of bagels sold in New York City.
Anon25 [30]

Answer:

Subcultural

Explanation:

Consumer behaviour refers to how individuals make decisions on ways to spend their available resources, time, money, and effort on variety of items.

A society is composed of several sub-cultures in which iindividuals can identify themselves. A Subculture is a group of people within a culture who are different from the dominant culture but have something in common with one another such as common interests, religions, ethnic backgrounds.

Culture is considered an external factor that influences consumer behavior. Since different cultures have different values, they will have different buying habits. A typical example is the Jewish people that purchase about 63% of bagels that is sold in New York City.

7 0
3 years ago
Chad, who owns the only coffee shop in Rivercity, learns that Jose is about to open a competing coffee shop in the same small to
Leya [2.2K]

Answer:

Rivercity Coffee Shop

Chad cannot sue Jose.  The $10,000 is paid to Jose is a bribe.  Since a bribe is not legal, it cannot form the basis for an enforceable contract.

Moreover, the offer by Chad is an antitrust and anti-competition consideration that is legally frowned upon. illegal contract

Explanation:

For a contract to be enforceable, it cannot be illegal.  A bribe is illegal.  The basis for the contract is illegal.  Therefore, Chad cannot sue Jose.  Since Jose decided to breach the contract, neither Chad nor Jose is entitled to any compensation.  Jose cannot be held liable for non-performance.

6 0
3 years ago
Jones Corp. reported current assets of $196,000 and current liabilities of $138,500 on its most recent balance sheet. The curren
myrzilka [38]

Answer:

0.74

Explanation:

Jones corporation reported a current assets of $196,000

The current liabilities is $138,500

The current assets consists of $61,000 cash , account receivable= $42,100, inventory= $92,900

Therefore the quick ratio can be calculated as follows

= cash + account receivables

= $61,000 + $42,100

= $103,100

$103,100/$138,500

= 0.74

Hence the acid test(quick ) ratio is 0.74

4 0
3 years ago
If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with re
Naddika [18.5K]

Answer:

The correct answer is True

Explanation:

In calculating the equivalent units with respect to labor,the physical units at the start of the period is multiplied by the percentage of completion.

In other words, the equivalent units is shown thus:

Equivalent units =100000 units*20%

Equivalent units =20000 units

This implies that labor has carried  out 20% of the work required to transform the 100000 units into finished products,since only 20% work is completed, the remaining 80% is expected in the next period.

7 0
4 years ago
Insurance policies often contain a covenant of good faith and fair dealing. Even if the clause is not in the policy, often court
Oxana [17]

Answer:

The <em>covenant of good faith and fair dealing</em> simply requires all the parties to a contract to deal in an even-handed manner such that one party's action does not frustrate the other or prevent the other from getting the benefits of that contract.

In insurance, this covenant is sometimes captured under the heading <em>Uberrima fides</em>. This is a Latin phrase meaning <em>"Utmost Good Faith".</em>

In insurance, this covenant is legally binding on all parties to ensure they each reveal every information that is material to the acceptance or rejection of the risk (on the part of the Insurer) whilst on the part of the Insured the insurer is required to be explicit regarding the terms of the policy as well as the calculations by which the premium is arrived at.

For example, if an Insurance company is looking at covering someone under it's Life Insurance Policy, the person taking out the contract must disclose whether or not the Insured has any latent health issues which might shorten their lifespan. If there is such a condition, the Insurance company may still take on the risk albeit at a relatively higher rate than a client without such medical conditions.

 

An Insurance Company may breach this covenant if they delay or refuse to reasonable settle claims due to the Insured. It may also arise if the Insurance company by some technical manipulation intentionally under settles an Insurance claim.

If for instance, a Comprehensive Insurance Policy files a valid claim, the Insurer may be liable for negligence and or intentional wrongdoing.

Cheers!

6 0
3 years ago
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