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3 years ago

Francie drives into Gage’s Auto Service and asks Hong, a Gage’s employee, to replace a tire on Francie’s car.

Business

1 answer:

nirvana33 [79]3 years ago

7 0

Answer:

Option B.

Explanation:

An executory contract is one in which unperformed obligations remain on both sides, or one where both parties in a contract have continuing obligations to perform. Therefore is a contract that is made by two parties in which the terms in the contract are to be fulfilled at a later date. The contract shows that both sides still have duties to perform before it will become executed.

For example, contracts for the sale of goods in which the goods have not been delivered by the seller and the buyer has not paid, are executory contracts.

Therefore, as we can see from the scenario above, the contract is executory because, although Hong has replaced the tire, Francie is yet to pay, therefore, Francie has not performed her pert in the contract, making it an executory contract.

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The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: Inventory that had cost $15,000 w

Westkost [7]

Answer :

1. A. Operating activities.

2. The sale price of the land should be shown in the investing activities

$25,813.20

Explanation :

As per the data given in the question,

The interest expense is reported in the operating activities section of the cash flow statement

Net sales = Gross sales - Sale returns - Sales discounts

=$27,000 - $660 - $526.80

= $25,813.20

The sales discount is come from

= ($27,000 - $660) × 2%

= $526.80

The preparation of the multi step income statement is presented below:

Ozark Merchandisers

Income Statement

Net sales revenue $25,813.20

Less: Cost of goods sold ($15,000 - $400) $14,600

Gross profit $11,213.20

Less: expenses

Selling and administrative expense $2,835

Income from operations $8,378.2

Add: Gain on sale of land $900 ($6,900 - $6,000)

Less: Interest expense $200

Net income $9,078.20

The sale price of the land i.e $6,900 should be shown in the investing activities as it reflects the cash inflow position

This is the answer and the given options are incorrect

3 0

3 years ago

Kohlberg's theory of moral development can best be summarized as characterizing children's moral development as a process of pro

Vitek1552 [10]

Answer:

true

Explanation:

According to my research on Kohlberg's theory of moral development, I can say that based on the information provided within the question this statement is completely true. This is because this theory talks about starting in a stage where your actions are done in order to avoid certain consequences. Then as you get older you progress through various ethical stages, developing a series of ethical principals.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0

3 years ago

Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set

Margaret [11]

Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

Each person has borrowed 5,000 for the same period and with the same interest rate. However, the repayment is made differently by each person.

We calculate the interest paid by each person, and then sum up the three interest payments.

Seth pays = [5000 x (1 + 0.12/2)^10] - 5000 = 3,954

Janice pays = 5,000 X 0.06 x 10 = 3,000

Lori pays = [(5,000 x 10) / 7.36] - 5,000 = 1,794

Total interest payment = 3,954 + 3,000 + 1,794 = 8,748

3 0

3 years ago

Read 2 more answers

Heidi Ganahl's account of how she founded Camp Bow Wow through great adversity is best characterized as a(n):

Tasya [4]

Answer:

organizational story

Explanation:

Heidi Ganahl -

She is a very famous author , businesswomen and entrepreneur , the very founder of the Camp Bow Wow , which is a franchise for pet care.

Heidi Ganahl is characterised as an organizational story for her franchise Camp Bow Wow , where the people working in the camp Bow Wow all listen to the inspirational stories of her life , and feel motivated to do the same .

Hence , from the given information of the question,

The correct term is organizational story .

6 0

4 years ago

Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year w

yan [13]

Answer:

(a) the first-in, first-out (FIFO) method; $1054

(b) the last-in, first-out (LIFO) method; $998 and

Explanation:

FIFO

Inventory ; 13 units × $38 = $494

14 units × $40 = $560

Total = $1054

LIFO

Inventory ; 13 units × $38 = $494

14 units × $36 = $504

Total = $998

weighted average cost

August 7

New Cost per Unit = ((14 units × $36) + (19 units × $38)) / ( 14 units + 19 units )

= $37.15

December 11

New Cost per Unit = ((33 units × $37.15) + (14 units × $40))/( 33 units+14units)

= $38.00

Inventory Cost = 20 units × $38.00

= $760

8 0

3 years ago