The court would rule in sue's favor because courts seldom inquire into the adequacy of consideration.
In contracts, <em>consideration </em>just means the <em>exchange of things of value</em>. There has to be an exchange of things of value for there to be an enforceable contract, and in this case a watch was exchanged for money. It is rare for courts to rule on how much consideration is expected because people are generally free to set their own prices and not sell if the price is too low. That is not for a court to decide (in most cases).
Answer:
a. $2,634.36
$1,481.11
Explanation:
a. Ryan can claim the direct costs of the trip being gasoline and oil. He can therefore claim the $1,920 he paid for gasoline.
In addition, some of the indirect costs can be claimed as well such as depreciation. The claim is calculated as:
= Depreciation amount * Business miles / Total miles driven
= 3,900 * 3,700 / 20,200
= $714.36
Total deduction = 1,920 + 714.36
= $2,634.36
b. Ryan needs to be able to prove that the cost he is claiming are indeed business expenses. Total deductibles are:
= (3,900 * 1,400/ 20,200) + (1,400/2,220 * 1,920)
= $1,481.11
Answer:
Given that,
Flounder Inc. issued convertible bonds = $2,840,000 par value
Interest rate = 7%
Sold for cash = $97
If the bonds had not included the conversion feature, then
Sold for = $95
Therefore, the journal entry is as follows:
Cash A/c ($2,840,000 * 0.97) Dr. $2,754,800
Discount on issue of Bond A/c Dr. $85,200
To 7% Convertible Bonds payable $2,840,000
Answer:
Internal users of accounting information- Management
Employees
External users of accounting information- Investors
Creditors
Customers
Tax authorities
Explanation:
Internal users of accounting information are individuals within an organisation who make use of accounting information.
External users of accounting information are individuals outside an organisation that make use of accounting information. They are the people not employed by the organisation that make use of accounting information.
I hope my answer helps you
A straight bill of lading is most likely to be used when the shipment is to an affiliate.
In keeping with finance management, a straight bill of lading is a document wherein a seller concurs to apply a specific shipping option to ship goods to a sure vicinity, and the invoice is then assigned to a mainly named consignee.
A straight bill of Lading is a non-negotiable invoice of lading. it's miles used when the goods which can be being brought are already paid for or are donations or presents and don't require a charge. The usage of this, the consignee is delivered the products via the delivery business enterprise upon presentation of identification.
The difference between a straight bill of lading and a reserve invoice of lading is the fee fame of the products being shipped. An instant invoice of lading is issued when the goods have been paid for in advance by way of the consignee to the shipper.
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