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vfiekz [6]
3 years ago
9

Jane: "I'll pay you $50 if you will clean my windows." Al: "I'll do it for $75." Jane: "$65 and it's a deal." Al: "No way." Jane

: "Too late. We have a contract." Which of the following statements is true? a. There is a contract to clean the windows for $75. b. There is a contract to clean the windows for $65. c. There is no contract. d. Jane is correct, there is a contract.
Business
1 answer:
Harlamova29_29 [7]3 years ago
7 0

Answer:

c. There is no contract.

Explanation:

For a contract to be valid there has to be a offer and acceptance. In the question there was no offer that was accepted. Let us go through the conversation;

Jane made an offer of $50

Al did no accept, instead he made an offer of $75

Jane did not accept Al's offer instead she made an offer of $65. To this offer Al said "No way" meaning he did not accept.

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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.
Naily [24]

Answer:

Buyer

May 11 Dr Merchandise inventory 25,000

Cr Account payable 25,000

Dr Merchandise inventory 410

Cr Cash 410

May 12 Dr Account payable 1400

Cr Merchandise inventory 1400

May 20 Dr Account payable 23,600

Cash 22,892

Dr Merchandise inventory 708

(Seller)

May 11 Dr Account receivable 25,000

Cr Sales revenue 25,000

Dr Cost of goods sold 16,750

Cr Merchandise inventory 16,750

May 12 Dr Sales return and allowance 1400

Cr Account receivable 1400

Dr Merchandise inventory 938

Cr Cost of goods sold 938

May 20 Dr Cash 22,892

Dr Sales discount 708

Cr Account receivable 23,600

Explanation:

Preparation of the Journal entry for Buyer

May 11 Dr Merchandise inventory 25,000

Cr Account payable 25,000

Dr Merchandise inventory 410

Cr Cash 410

May 12 Dr Account payable 1400

Cr Merchandise inventory 1400

May 20 Dr Account payable (25,000-1400) 23,600

Cash (23,600*97%) 22,892

Dr Merchandise inventory 708

(23,600*3%)

Preparation of Journal entry (Seller)

May 11 Dr Account receivable 25,000

Cr Sales revenue 25,000

Dr Cost of goods sold 16,750

Cr Merchandise inventory 16,750

May 12 Dr Sales return and allowance 1400

Cr Account receivable 1400

Dr Merchandise inventory 938

Cr Cost of goods sold 938

May 20 Dr Cash 22,892

[(25,000-14000)*97%]

Dr Sales discount 708

[(25,000-14000)*3%]

Cr Account receivable 23,600

8 0
3 years ago
Please subscribe to my mom channelI need 300 subscriber​
IgorLugansk [536]

Answer:

I'VE ALREADY SUBSCRIBED

WATCHED VIDEOS

LIKED

<em>PLS </em><em>MARK</em><em> ME</em><em> AS</em><em> BRAINLIEST</em>

5 0
3 years ago
Read 2 more answers
Crane Corporation acquires a coal mine at a cost of $404,000. Intangible development costs total $101,000. After extraction has
Svet_ta [14]

Answer:

The journal entry to record depletion is  :

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

Explanation:

<em>Depletion Expense = Depletion rate × units extracted during the year</em>

where,

<em>Depletion rate = (Cost - Salvage Value) ÷ Estimated total units</em>

Therefore,

Depletion rate = ($404,000 + $101,000 + $80,800 - $161,600) ÷ 4,040 tons

                        = $ 105 per ton

Therefore,

Depletion Expense = $ 105 per ton × 707 tons

                                = $74,235

<u>Journal Entry :</u>

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

8 0
3 years ago
The increased use of the Internet presents a lot of potential for which types of businesses?
Sergeeva-Olga [200]

Answer:

Local businesses, SME's and International businesses

Explanation:

The era of the internet has provided the work to integrate and create more opportunities for the business to grow and improve. More importantly, the internet has created a pathway for small businesses, local businesses, and small businesses to grow and expand globally. The internet has also helped businesses to set up their operations globally and locally to attract more markets and consumers.

8 0
3 years ago
The profit function for sales of two models of television sets at a chain discount store is given by where x is the number of sa
ruslelena [56]

Answer:

The correct option is B) Px(10, 15) = 80

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by one unit and holding sales of model B at 15 units will increase profit by approximately $80.

Explanation:

Note: This question is note complete. The complete question is therefore provided before answering the question as follows:

The profit function for sales of two models of television sets at a chain discount store is given by P(x, y) = 140x + 160y - 6x^2 + 4xy - 8y^2 - 500, where x is the number of sales per week of model A, and y is the number of sales per week of model B. Find Px(10, 15) and interpret the result.

A) Px(10, 15) = 120

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by

one unit and holding sales of model B at 15 units will increase profit by approximately $120

B) Px(10, 15) = 80

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by one unit and holding sales of model B at 15 units will increase profit by approximately $80.

C) Px(10, 15) = 140

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by one unit and holding sales of model B at 15 units will increase profit by approximately $140

D) Px(10, 15) = 60

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by one unit and holding sales of model B at 15 units will increase profit by approximately $60

The explanation to the answer is now given as follows:

Given;

P(x, y) = 140x + 160y - 6x^2 + 4xy - 8y^2 - 500 ........................ (1)

Taking partial differentiation of equation (1) with respect to x, we have:

Px(x, y) = 140 - 12x + 4y ...................... (2)

Since we are given Px(10, 15), it implies we substitutes for x = 10 and y = 15 into equation (2) and estimate as follows:

Px(10, 15) = 140 - (12 * 10) + (4 * 15)

Px(10, 15) = 140 - 120 + 60

Px(10, 15) = 80

Therefore, the correct option is B) Px(10, 15) = 80

At a sales level of 10 units of model A and 15 units of model B, increasing sales of model A by one unit and holding sales of model B at 15 units will increase profit by approximately $80.

6 0
3 years ago
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