A(n) anticipatory breach is a new agreement resulting from a bonafide dispute between the parties as to the terms of their original agreement.
<h3>What is a breach?</h3>
A breach occurs when an agreement or a contract is not followed as it written.
It occurs when the individual or company deviate or do contrary to the agreement.
There could be a breach in law, custom and contract.
Therefore, A(n) anticipatory breach is a new agreement resulting from a bona fide dispute between the parties as to the terms of their original agreement.
Learn more on breach here,
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Answer:you cant my parents do the same
Explanation:
theres no help
Answer:
D. $210000
Explanation:
Given that
Inventory balance at the beginning = 22000
Inventory balance at the end = 20000
Inventory turnover = 6.0
Gross profit ratio = 40%
Average inventory = balance at beginning + balance at end / 2
= 22000 + 20000/2
= 21000
Recall that
Inventory turnover = cost of good sold/average inventory
Thus,
Cost of good sold = inventory turnover × average inventory
= 6.0 × 21000
= $126000
Therefore
Net sales = cost of good/ 1 - gross profit ratio
= 126000/1 - 0.4
= 126000/0.6
= $210,000
Answer:
-$13 million
Explanation:
Given that,
Budget surplus by the end of 2013 = $286 million
Budget deficit in 2014 = $425 million
Budget surplus in 2015 = $100 million
Budget deficit or surplus in 2016 is unknown.
National debt at the end of 2016 = $52 million
National Budget surplus/ deficit at the end of year 2015:
= Budget balance of 2013 + Budget balance of 2014 + Budget balance of 2015
= $286 million + (-$425 million) + $100 million
= -$39 million
So the government will fund this deficit by taking debt of $39 million.
National debt at the end of 2016 = Total debt till 2015 + Surplus/deficit for year 2016
-$52 million = (-$39 million) + Surplus/deficit for year 2016
- $52 million + $39 million = Surplus/deficit for year 2016
-$13 million = Surplus/deficit for year 2016
This is budget deficit of $13 million because debt increased by 13 million in 2016.
<u>Solution:</u>
Deffered revenue means when an organization receives the payment prior to the goods delivered to conusmer. In the given case, business receives $3000 on 1, January for ten month service (From january to October).
<u>The revenue per month needs to be calculated:</u>
Revenue per month = Revenue for ten months divided by Total number of months
By putting the figures we get,
Revenue per month = $3000 divided by 10 = $300 per month
An adjusting entry needs to be passed:
Date Particulars debit credit
31st jan Unearned Revenue $300
Service Revenue $300
( Service revenue that has been collected in advance)