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sergeinik [125]
3 years ago
13

At Mattress Store, Nate signs a contract to buy bedroom furniture. The contract sets a schedule of $500 monthly payments, subjec

t to a late fee of 15 percent. Nate finds the language of the contract difficult to understand. This is most likely a. an exculpatory contract. b. substantive unconscionability. c. an enforceable contract. d. procedural unconscionability.
Business
1 answer:
earnstyle [38]3 years ago
7 0

Answer:

procedural unconscionability

Explanation:

Since Nate is finding the language of the contract difficult to understand. This is most likely a case of procedural unconscionability.

In contract law, procedural unconscionability refers to a situation where the unconscionability results from <u>inequalities between the parties in respect of age, intelligence,</u> and relative bargaining power.

Furthermore, procedural unconscionability projects an indication that both parties did not freely consent to all terms proposed.

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Kirov, Inc. reports credit sales of $200,000 for the year ending December 31, 2015. The year- end unadjusted balance of its Allo
Korvikt [17]

Answer:

D. $12,000

Explanation:

Allowance for Doubtful accounts = Credit sales * Rate

Allowance for Doubtful accounts = $200,000 * 6%

Allowance for Doubtful accounts = $12,000

                       Allowance for doubtful account

Particulars                                            Particulars

Balance brought forward  $9,000     Bad debts       $12,000

Balance carried forward    $3,000  

Total                                    $12,000    Total               $12,000

Therefore, the amount to be debited to Bad debts and credited to Allowance for Doubtful accounts is $12,000.

4 0
2 years ago
Borasco Corp. owns land with a fair market value of $200,000. Borasco purchased the land 10 years ago for $65,000 and owes a lia
sleet_krkn [62]

Answer:

$65,000

Explanation:

Borasco was the person who purchased the land for $65,000 in which the land was later transferred to Alvo. Therefore no gain or loss is been recognized in this liquidation because it subsidiary is been liquidated by the parent which is why the basis of land is said to be carryover basis of $65,000 at the end of the transaction.

5 0
3 years ago
Which financial statement tells you the value of the assets the company owns and the liabilities a company owes?.
Pavel [41]

Answer:

Balance Sheet

Explanation:

The balance sheet is a financial statement that shows a companies assets, liabilities, and shareholder equity.

4 0
2 years ago
Martinez Furniture Company started construction of a combination office and warehouse building for its own use at an estimated c
baherus [9]

Answer:

$530,672

Explanation:

Base on the scenario been described in the question, we can use the following method to compute the avoidable interest on this project

Use the attached file below to find the solution to given problem .

3 0
3 years ago
Why are companies required to perform payroll withholding?
Dmitriy789 [7]
I believe it is to make sure employees can pay their taxes.
Hope it helps!
8 0
3 years ago
Read 2 more answers
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