Answer: In this case,<em> </em><em><u>Slimline would win the case</u></em> because <u><em>Distributor's conduct and less inclination towards the product is breach of the contract.</em></u> Therefore Slimline sued Distributor, alleging a violation of the agreement.
Hence, in this case Slimline is more likely to win the case as it was asked of the distributor to use reasonable efforts to promote and sell Slimline’s diet drink.
Answer:
*** Cash $37,500
Explanation:
Optimum weight loss classified balance sheet .
Assets
Current assets
Cash $37,500
Account receivables $116,750
Prepaid insurance $7,200
Prepaid rent $21,000
Supplies $4,800
Total current assets $187,250
Non current assets
Equipment $474,150
Less
Accumulated depreciation $186,400
NBV $287,750
Land $300,000
Total non current assets
$587,750
Total assets
$775,000
Liabilities
Accounts payable $37,700
Salaries payable $9,000
Unearned fees $18,000
Total liabilities
$64,700
Equity
Common $75,000
Retained earnings $635,300
Total equity
$710,000
Total liabilities + equity
$710,300 + $64,700 = $775,000
Answer:
a. current asset
Explanation:
The merchandise inventory are the goods the business sales as their main operation. They are expected to be ready to sale therefore, ready to be converted to cash within the period, therefore will be current assets.
Unless the company do an specific mention and a certain amount of goods that will expected to be sold in a period of time greater than a year, all merchandise inventory will be current. These specific units will be considered non-current as their are expecteed to be converted to cash i na period greater than 1 year.
