Answer:
2021: 675
2022: 2,025
Explanation:
The Company loaned in the month of October 2021, so three months interest income will be recognized calculated as follows:
27,000 * 10% (3/12) = 675
On 1 October 2021, the Company accepted 12 months note so it means that the loan was repaid on 30 September 2022, thus 9 months interest revenue will be recorded:
27,000 * 10% (9/12) = 2,025
Answer:
I beleve that the answer is 82,056
Answer:
In economics, capital refers to buildings and machines used in the production process.
The correct answer is B
Explanation:
In economics, capital is the totality of machines, tools, equipment and raw materials used in the production process.
Answer: a. There was not an enforceable agreement. However under the UCC, part performance makes that portion of the agreement binding on Hearn. Hearn may not return the 40 turbines, but is not obligated to purchased the remaining 60.
Explanation:
The Statute of Frauds under the Uniform Commercial Code requires that for a contract with a value higher than $500 for goods to be enforceable, it needs to be in writing. This contract is therefore not enforceable.
However, there is an exception to this rule for performance or partial performance. If the parties have already partially completed the contract for instance, the completed portion is enforceable. The remaining portion however, is not, and therefore can be renegaded upon.