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3 years ago

Oral evidence in contract disputes is prohibited by:

1 answer:

6 0

There is a rule that states that oral evidence is prohibited in those cases. The law is called The parol evidence rule. This is a common law that prevents a party from presenting evidence that discloses abmiguities and clarifies it. It also prohibits adding something to the terms of the contract.

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Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Assets 2006 2005 Liabilities and St

jeyben [28]

Answer:

Luther Corporation

Current Ratio for 2006 is closest to:

1.1 : 1

Explanation:

a) Data and Calculations:

Total Current Assets = $144 million

Total Current Liabilities = $132 million

Current Ratio = Current Assets/Current Liabilities

= $144/$132

= 1.1 : 1

b) Luther Corporation's current ratio is a liquidity measure that shows Luther's ability to pay off short-term obligations worth $132 million or those due within one year with its current assets of $144 million. The ratio tells investors and analysts of Luther Corporation how Luther can use its current assets to pay off its current debts. Since Luther's current ratio is higher than 1, it is considered good, depending on the industry average. This means that Luther's current ratio of 1.1 : 1 should not be considered in isolation, but in comparison with other firms in the industry and its performance over a number of years.

6 0

3 years ago

Using the following information, estimate Rogue Outdoors annual or monthly market demand for adult hiking shoes: Number of 18-65

8_murik_8 [283]

Answer:

Rogue Outdoor’s break-even point in units and dollars is 720 units and $72,000 respectively.

Explanation:

In this question we use the formula of break-even point in the unit which is shown below:

= (Fixed expenses) ÷ (Contribution margin per unit)

where,

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $100 - $50

= $50

Now put these values to the above formula

So, the value would equal to

= $36,000 ÷ 50 per units

= 720 units

And, the formula of break-even point in dollars which is shown below:

= (Fixed expenses) ÷ (Contribution margin ratio)

where,

Contribution margin ratio = (Contribution margin ÷ selling price per unit) × 100

where, Contribution margin = Selling price per unit - Variable expense per unit )

= $100 - $50

= $50

So, the contribution margin ratio = 50%

Now put these values to the above formula

So, the value would equal to

= $36,000 ÷ 50%

= $72,000

4 0

3 years ago

In the BIG BUCKS LOTTERY, the chance of winning a $10 prize is 1%. What is your best guess about how many people would win a $10

3241004551 [841]

Answer:

The correct answer would be, 10 Persons.

Explanation:

If there are 1000 people in the Big Bucks lottery and there is a 1 percent chance of winning 10 dollars prize if all 1000 people buy the lottery ticket of 10 dollars. If every person buys 10 dollar lottery ticket, then the chances of winning people would be calculated as follows:

Total number of People = 1000

Chances of winning the lottery = 1%

So How many people would win 10 dollar lottery = 1000 * 1%

= 1000 * 0.01

= 10 People.

So there are chances that 10 out of 1000 people will win the lottery.

5 0

3 years ago

Read 2 more answers

Silvana Inc. projects the following data for the coming year. If the firm follows the residual dividend policy and also maintain

Goshia [24]

Answer:

The dividend payout ratio is 43.33% as shown below

Explanation:

EBIT is an acronym for earnings before interest and tax, it is given as $2 million.In other words, to arrive at net income we need to deduct interest on loan and tax.

EBIT $2000000

less interest(5000000*10%) ($500000)

Earnings before tax $1500000

Tax @40% ($600000)

Net income $900000

Since capital project requires 60% of equity(net income belongs to equity holders),hence we need to deduct 60% of capital outlay from net income to arrive at distributable earnings.

distributable earnings =$900000-(60%*$850000)

=$390000

Hence dividend payout ratio=distributable earnings/net income

=$390000/$900000

=43.33%

8 0

3 years ago

How are bonds payable usually classified on the balance sheet?

earnstyle [38]

Bonds payable that are <u>long-term obligations</u> are typically recorded on the balance sheet.

<h3><u>How do long-term liabilities work?</u></h3>

Long-term liabilities are debts owed by a business that won't be paid off for at least a year. To give a clearer picture of a company's present liquidity and its capacity to meet its obligations as they come due, the current part of long-term debt is broken out separately from other debt.

Long-term liabilities are also referred to as noncurrent liabilities or long-term debt. The balance sheet's part that may include debentures, loans, deferred tax liabilities, and pension obligations is where long-term liabilities are stated following more immediate liabilities.

Liabilities that are greater than one year in duration or that are not due within the next 12 months are referred to as long-term liabilities. The time it takes a business to convert its inventory into cash is known as its operational cycle.

Learn more about long-term liabilities with the help of the given link:

brainly.com/question/17283456

#SPJ4

7 0

2 years ago