Pleaseee

Mr. Green enters into a contract with Mr. Blue who is a crab fisherman. Mr. Green and Mr. Blue know that Mr. Blue has already ca

kobusy [5.1K]

Answer:

The contract is void since it attempts to contract for services that are illegal

Explanation:

Since there is a contract between the Mr Green and Mr Blue and they already know that the Mr blue has already caught the number of crabs i.e permitted in the season but they agree to exceed the quota

Therefore the status should be void as they want to exceed which is not permitted that results in illegal service contracts

Hence, there is a void contract

4 0

3 years ago

If employers do not require a(n) __________, performance appraisal ratings often do not match the normal distribution of a bell-

Lubov Fominskaja [6]

Answer:

forced distribution

Explanation:

Based on the rest of the sentence it can be said that the missing term is forced distribution. This is a system that requires managers to evaluate each individual and rank them typically into one of three categories. These categories are excellent, good, and poor and allow managers to indicate if the employee should be terminated, is doing good, or is in-line for promotion as indicated in the graph below. This term is also known as the vitality curve or bell curve.

4 0

3 years ago

Giant Ltd acquired 80 percent share capital of Expert Ltd. On 1 July 2018 for a cost of $1,600,000. As at the date of acquisitio

sweet [91]

Answer and Explanation:

1. For computation of the non-controlling interest as at 30 June 2019 is shown below:-

Adjusted profit = Profit tax after the year - Unrealized gain in stock - Gain on machinery

= $200,000 - $10,500 - $10,500

= $179,000

Non-controlling interest as at 30 June 2019 = Share capital + Retained earning + General reserve + Profit of the year June 2019

= ($800,000 × 20%) + ($200,000 × 20%) + ($400,000 × 20%) + ($179,000 × 20%)

= $160,000 + $40,000 + $80,000 + $35,800

= $315,800

2. The Journal entries are shown below:-

a. Profit for the year Dr, $21,000

To Stock reserves $10,500

To Equipment reserve $10,500

(Being reserves is recorded)

Working note:

For stock reserve

Sale price $120,000

Cost $60,000

Profit before tax $60,000

Tax at 30% $18,000

Profit after tax $42,000

Unsold stock 25%

Unrealized profit $10,500

For net gain on sale of machinery

Sale price $80,000

Cost $60,000

Profit before tax $20,000

Tax at 30% $6,000

Profit after tax $14,000

Unsold stock 75% (3 years from 4 years)

Unrealized profit $10,500

b. Profit for the year Dr, $179,000

To Consolidated reserves and surplus $35,800

To Non controlling interest $143,200

(Being profit of expert ltd. is recorded)

Working note

Share of non controlling stakeholders = 20% × $179,000

= $35,800

Share of Giant Ltd. = 80% × $179,000

= $143,200

We do not make any adjustment with respect to consultancy fees

3 0

3 years ago

A customer invests 50000. 10 years later, the investment is worth 100000. the customers annual compouned rate of return is?

9966 [12]

<u>Answer:</u> The rate of interest is 7.18 %

<u>Explanation:</u>

To calculate the rate of interest, we use the equation used for the interest compounded monthly follows:

$A=P(1+\frac{R}{n})^{nT}$

A = Amount after time period 'T' = $100,000

P = Principal amount = $50,000

R = rate of interest = ?

n = Number of times interest applied per time period = 1 (annually)

T = time period = 10 years

Putting values in above equation, we get:

$100,000=50,000(1+\frac{R}{1})^{1\times 10}\\\\R=0.0718$

Calculating the rate of interest in percentage:

$\Rightarrow R\times 100=0.0718\times 100=7.18\%$

Hence, the rate of interest is 7.18 %

7 0

3 years ago

Shahia Company bought a building for $89,000 cash and the land on which it was located for $107,000 cash. The company paid trans

kramer

Answer:

Explanation:

The net book value of the property(land and building) at the end of year 2

Building(89,000 + 7,000 + 16,000) 112,000

Less; Depreciation for 2 years(10,200*2) (20,400) 91,600

Land(107,000 + 3,000) 110,000

Net book value of property 201,600

8 0

3 years ago