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kramer
3 years ago
8

Nathan buys a new microwave for $200. The microwave’s label bears a disclaimer that the manufacturer is not liable for consequen

tial damages. A week later, while Nathan is baking cookies, the oven emits sparks and damages the electrical wiring in the kitchen. An electrician comes and informs Nathan that the oven malfunctioned and that the cost of repairs in his kitchen will cost $2,000. What can Nathan recover from the oven manufacturer? a. $2,500 b. $1,800 c. $200 d. No damages can be recovered.
Business
1 answer:
Rainbow [258]3 years ago
5 0

Answer:

Option (c) $200

Explanation:

Data provided in the question:

Cost of the microwave = $200

Cost of repairs in the kitchen = $2,000

Now,

The damage caused in the kitchen is due to the malfunctioning of the microwave.

But the disclaimer on the microwave’s label already mentioned that the manufacturer is not liable for consequential damages.

here,

The damage in the kitchen is consequential damage to microwaves.

Hence,

the manufacturer of the oven will only give $200

Option (c) $200

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The following information is available for Sunland Company
Oksanka [162]

Answer:

Sunland Company

Balance Sheet as at December 31, 2022

ASSETS

<u>Non - Current Assets</u>

Equipment (net)                                                  110,500

Total Non - Current Assets                                110,500

<u>Current Assets</u>

Inventory                                                               2,900

Supplies                                                                 3,740

Accounts receivable                                             3,400

Cash                                                                      6,200

Total Current Assets                                           16,240

Total Assets                                                       126,740

EQUITY AND LIABILITIES

Equity

Common stock                                                  50,600

Retained Earnings                                             36,660

(126,740 -  39,480 - 50,600)

Total Equity

Liabilities

<u>Current liabilities</u>

Accounts payable                                              4,800

Interest payable                                                    520

Unearned service revenue                                  860

Salaries and wages payable                                800

Total Current liabilities                                      6,980

<u>Non - Current liabilities</u>

Notes payable                                                 32,500

Total Non - Current Liabilities                        32,500

Total Liabilities                                                39,480

Total Equity and Liabilities                            126,740

Explanation:

A Balance Sheet shows the Assets, Liabilities and Equity as at the Reporting date.

The Retained Earnings have been calculated as 126,740(Total Assets) -  39,480 (Total Liabilities) - 50,600 (Common Stock) = $50,600.

3 0
3 years ago
Intangible assets
vampirchik [111]

Answer: OPTION D

Explanation: In simple words, intangible assets refers to those assets which does not have any physical existence but still are crucial for the operations of the organisation. Goodwill and patent rights are some of the examples of intangible assets.

These assets could be long term or short term therefore they are shown as a separate classification in the balance sheet.

Hence the correct option is D.

4 0
3 years ago
Furniture Center had accounts receivable of $ 25 comma 000 at the beginning of the year and $ 56 comma 000 at​ year-end. Revenue
lisabon 2012 [21]

Answer:

They collected $88,000

Explanation:

We have an initial balance of accounts receivable of $ 25,000. To this balance, we must add the revenue of the year a total of $ 119,000. By making this sum we get the result of $ 114,000, this would be the total of our accounts receivable totalized.  

Subsequently, to this value we subtract the final balance of accounts receivable that was $ 56,000, to obtain a result of $ 88,000. In other words, $ 88,000 would be the amount collected from accounts receivable during the year.

8 0
3 years ago
What does the term “idle time” refer to in performance measurement?
Vedmedyk [2.9K]

Explanation:

D.

the time during which a workflow is interrupted

7 0
3 years ago
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PtichkaEL [24]
False is the correct answer
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