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Blizzard [7]
3 years ago
12

On May 1 Ralph offers to cure and smoke Sam’s pork, and promises to keep the offer open until June 1. On May 3 Ralph mails Sam a

letter revoking the offer. Sam receives and reads the letter on May 5 and responds to Ralph on May 6. Ralph’s revocation of the offer became effective on:
a. no date because the offer is irrevocable.
b. May 6.
c. May 5.
d. May 3.
Business
1 answer:
garik1379 [7]3 years ago
6 0

Explanation:

I would say may 6th because Sam didn't know Ralph was going to revoke until May 5th and that only makes it half final because Ralph wouldn't know in anyway except through a letter that Sam has received his letter and agreed or disagreed.

May 6th is when he gets the confirmation. So both people know on May 6th.

If this is too confusing ( like it was for me I had to read it 6 times ) then think about it this way. if you make a deal with a fisherman to buy fish on Wednesday and you send him a lettering sunday that arrives a day later, the fisherman won't know until a day later (Monday) and on that day he receives it you don't know if he got it. That's why it's half official. when he send a letter that arrives the day after he got your letter (tuesday) then you know that he understood you won't make it on Wednesday making it fully official.

does this make sense? if so hope it helps.

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Belltower, Inc. has net income for 2016 of $370,000. At January 1, 2016, the company had outstanding 54,000 shares of $50 par va
horrorfan [7]

Answer:

A. $5.17

Explanation:

Use the following formula to calculate the Earnings per share

Earnings per share = ( Net Income - preferred Dividend ) / Weighted average numbers of outstanding shares

Where

Net Income = $370,000

Preferred Dividend = 10,000 x $100 x 6% = $60,000

Weighted average numbers of outstanding shares = 54,000 shares + ( 18,000 shares x 4/12 ) = 54,000 shares + 6,000 shares = 60,000 shares

Placing values in the formula

Earnings per share = ( $370,000 - $60,000 ) / 60,000 shares

Earnings per share = $5.17 per share

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Assoli18 [71]
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Nesterboy [21]
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