Answer:
The contract is voidable.
Explanation:
The survey discovered a misrepresentation in the consideration (the size of the land), so that means that Maurice can choose to void it or not. A voidable contract is a contract that can be voided. In this case, the injured party is only Maurice, so only he can void it, or choose not to. They might negotiate a discount or something, it is up to him.
Answer:
b. $14,939
Explanation:
Property placed in service in 1st year:
Amount $
2nd quarter 15,000
3rd quarter 6,000
4th quarter <u>40,000</u>
Total furnishing at beginning of 2nd Year $61,000
Half Year depreciation rate in 2nd Year as per Macrs table under "7 years life" assets, the applicable depreciation in the 2nd year is 24.49%
Thus, amount of depreciation expense is allowable in the current (second) year of ownership = $61,000 * 24.49% = $14938.90
Answer: $3,672,500
Explanation:
Based on the information given in the question, the debit to cash in the journal entry to record this transaction will be:
= $3,250,000 - ($3,250,000 × 4%) + ($3,250,000 × 9%)
= $3,250,000 - $130,000 + $292,500
= $3,672,500
Therefore, the debit to cash will be $3,672,500.
Answer:
C) I only.
Explanation:
According to the Uniform Securities Act, A civil case underneath the provisions of the United States must be filed in 3 years of the alleged infringement, or 2 years from the detection of the breach, whatever comes first.
Also, The passing of the consultant or the client doesn't really eliminate a civil liability prima facie case. Waivers to statements agreed to sign by the customer waiving adherence by the consultant with the provisions of this act on which the suit is focused aren't ever legitimate on the examination.
Therefore the option i is correct
Answer:
22,290 units
Explanation:
Product A sales (S) = 21,900 units
Product A selling price = $11.90
Product A beggining inventory (I)= 3,900
Product A ending inventory (E) = 3,900 x 1.10 = 4,290
Budgeted purchases of product A must account for all of the projected sales and the desired ending inventory, assuming that the company already has a beginning inventory at hand. Budgeted Purchases of product A are given by:
