Answer:
Date Account Titles and Explanation Debit Credit
Bonds payable $1,000,000
Loss on retirement of bond $13,000
[$1,050,000 - $1,037,000]
Premium on bond $37,000
Cash (1,000,000*105%) $1,050,000
(Record the retirement of the bonds, using a premium account)
enforceable, legality
For a contract to be enforceable it must meet the requirement of legality and both the subject matter and the performance of the contract must be legal
An agreement to be a contract must establish a duty that is enforceable by law by the provisions of contract laws. Any arrangement that does not provide for enforceability—that is, one in which the parties cannot seek redress in court for breach of the agreement s not a contract. To create legality in a relationship, the contract must have intent. It happens when the parties are aware that each of them is responsible for the contract's failure if they fail to keep their part of the contract.
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Answer:
$238,000
Explanation:
Residual income= Net income-Equity return required
=$850,000-$5,100,000*12%
=$238,000
Answer:
- No job uses more than one machine simultaneously
.
-
No machine processes more than one job simultaneously.
- Only 3 hours will be needed to complete the jobs.
Explanation:
However, Job 2 can be completed at time 3 which is late by 1 hour.
Suppose that the processing times are exponentially distributed.
Let
- The processing rate of job j on machine 1
- The processing rate of job j on machine 2
Expected make span is minimized by processing the jobs in the descending (high to low) order of processing
Make span is the completion time of the last job processed. Although make span is defined as a completion time of a job, it actually measures how long the production facility should remain open.
Answer:
b. One advantage to forming a corporation is that the owners of the firm have limited liability.
Explanation:
Every equity shareholder has this advantage that he cannot be called off, in case of any liability in the company, as the company stands liable and not the shareholder, whereas in partnership or proprietorship even all the partners can be called off to meet the liability personally, in case of any failure from the firm.
Though firms have tax advantage, but this is the disadvantage to the firm that the liabilities are unlimited.
