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Lerok [7]
3 years ago
13

You have placed an antique sofa up for auction and the auctioneer has not made any special announcements about the sale. You can

withdraw the sofa at any time before the auctioneer closes the sale by announcement or by the fall of the hammer.
True / False.
Business
1 answer:
Gre4nikov [31]3 years ago
8 0

Answer:

<h2>The answer in this case would be True.</h2>

Explanation:

  • In this case,the auctioneer has not made any special announcement regarding the sale or especially,has not announced the official conclusion of the sale.
  • Since,the auctioneer hasn't officially signaled the end or conclusion of the sale,it technically implies that the auction or sale of the concerned product or item is still operational and anyone can offer a value to bid for the product or item.
  • Therefore,based on the general rule or regulation of any official public auction,the bidder can officially withdraw his bid and let it pass to other bidders before the final and official conclusion of the sale as per the indication of the auctioneer.
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Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Ident
neonofarm [45]

Answer: c. Foster Inc.'s assets will decrease by a net amount of $30,000.

d. The Company's liabilities will increase by $30,000.

Explanation:

From the question, Foster, Inc., bought a truck by paying $5,000 and then borrowed the remaining $30,000 that was required to complete the transaction.

Since the company borrowed $30,000, this will lead to an increase in the liability of the company by $30,000. Also, it will lead to a reduction in the net assets of the company by a net amount of $30,000

6 0
3 years ago
_____-is the cost of the merchandise that the merchandiser has sold.
Effectus [21]

It should be the price right?

7 0
3 years ago
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Can you guys help me with this is hard
earnstyle [38]
Is there some sort of word bank or something?
8 0
3 years ago
Don Juan, a single taxpayer, is the sole owner of DJ’s Inc., an S Corporation. This year, DJ’s Inc. incurred a massive $600,000
Darina [25.2K]

Answer:

Don Juan is sole business owner and his loss in excess to the minimum threshold amount is $250,000. So Don Juan may deduct the amount $350,000 in terms of loss.  

If Don Juan does not deduct the loss this year, it would be carried forward to next fiscal statement

Explanation:

Part 1. The calculation is made as below

Excess of business loss ($600,000) – (other business income + Threshold amount ($250,000))

The minimum threshold amount is deductible from the Tax comes out to be $350,000

Part 2. The loss is reflected in next year’s tax statement as net operating loss and can be carried forward. So if Don Juan miss the loss deduction claim, he can do it next year.  

4 0
3 years ago
Butler Corporation is considering the purchase of new equipment costing $84,000. The projected annual after-tax net income from
torisob [31]

Answer:

The net present value of the machine is $5530

Explanation:

Data provided in the question:

Cost of the equipment = $84,000

Annual after-tax net income from the equipment after deducting depreciation = $3,000

Depreciation = $28,000

Useful life = 3 years

Required return on investment = 9% = 0.09

Now,

After-tax cash flow = After-tax net income + Depreciation

= $3,000 + $28,000

= $31,000

Therefore,

Net Present Value = Present value of cash flow - Investment

= ( $31,000 × PVIFA(11%, 3) ) - $84,000

= ( $31,000 × 2.5313 ) - $84,000

= $78470.3 - $84,000

= -$5529.7 ≈ - $5530

hence,

The net present value of the machine is $5530

4 0
3 years ago
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