Basically, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.
In the contract on sales, a sale formally becomes a sale when a party gives something to another in exchange for money.
- The consideration (Premium/Sales cost) is the main factor that makes a sales contract valid and legal.
Hence, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.
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Answer:
0.54
Explanation:
Debt-to-equity ratio = Total Debt ÷ Total Equity
= $107,000 ÷ $197,000
= 0.54
The company's debt-to-equity ratio equals 0.54
Answer:
$90
Explanation:
Nominal GDP is GDP calculated using current year prices.
Nominal GDP = current year prices x unit of output
18 x $5 = $90
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Answer:
Supplies Expense 1625 Dr
Supplies Account 1625 Cr
Explanation:
First, we need to determine the supplies expense for the period. The supplies expense can be calculated by deducting the year end supplies balance from the supplies account balance.
The supplies expense = 2600 - 975 = $1625
The adjusting entry that will be made at the end of the period is,
Supplies Expense 1625 Dr
Supplies Account 1625 Cr
Answer:
The dividends payout to preferred stockholders is $113,400 as shown below.
Explanation:
The total dividends payable to holders of preferred shares can be computed thus:
Preferred shares dividends=9000*$90*14%
Preferred shares dividends =$113,400
Preferred shareholders have prior claims to dividends ahead of ordinary shareholders,but after bondholders' interest payments have been settled.
The same way they also have precedence in the distribution of company's assets before ordinary shareholders upon the liquidation of the company.
The downside is that they cannot share in excess profits after payment of dividends as they are part-owners of the company unlike ordinary shareholders.
