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kotegsom [21]
3 years ago
11

Don contracts with mark to paint his house for $5,000 by the end of april. if the terms of their contract are clear and unambigu

ous, but a dispute arises, a court may not consider extrinsic evidence —any evidence not contained in the contract itself—when interpreting the document. this is known as
Business
1 answer:
Sveta_85 [38]3 years ago
7 0

The Plain Meaning Rule.

The plain meaning rule states that when the language is unambiguous and clear, you must use the actual language of the contract and not any outside evidence when determining how the dispute is resolved.

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Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income
lara [203]

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Given that

Ending inventory overstated in the current year by $5,000

And, the net income is incorrectly reported $100,000

So, due to this error

The cost of goods sold is understated by $5,000

And, the net income is overstated by $5,000

Since the cost of goods sold is understated by $5,000 so it would be too low due to which the net income overstated by $5,000

4 0
3 years ago
Department C had direct materials EUP cost of $4.00 and conversion EUP cost of $2.50. If the department had 38,000 units complet
S_A_V [24]

Answer:

Their cost of units completed for direct materials is $1,52,000.

Explanation:

Cost of units completed for direct materials

= Units completed and transferred *Direct material EUP cost

= 38,000 *$4.00

= $1,52,000

Therefore, Their cost of units completed for direct materials is $1,52,000.

5 0
3 years ago
Read 2 more answers
a personal account earmarked as a retirement supplement contains $292,200. suppose $250,000 is used to establish an annuity that
Hoochie [10]

Suppose $250,000 is used to establish an annuity that earns 6%, compounded quarterly, and pays $6000 at the end of each quarter. It will take about 120 quarters until the account balance reaches $0.

Amount invested (Present value) = $250000

Quarterly payment (At the end of each quarter) (P) = $4500

Interest Rate (Quarterly) (r) =  6% /4

= 1.5% = 0.015

A number of quarters (n) = ?

Future value at the end  = 0

Present value of Annuity formula:

Present value  = P × (1-(1+r))^{(-n)}  / r

250000 =  4500 × (1-((1+0.015))^{(-n)}  / 0.015

250000 =  300000 × (1-((1+0.015)}}^{(-n)}

250000 / 300000 = 1-(1+0.015)^{(-n)}

0.83333 = 1-(1.015)^{(-n)

n = 120

Hence is shall take 120 Quarters until the account balance is $0.

To learn more about account balance

brainly.com/question/28699225

#SPJ4

3 0
1 year ago
On the end-of-period spreadsheet, Supplies has a balance of $2,000 in the Unadjusted Trial Balance Debit column and an adjustmen
Mademuasel [1]

Answer:

$1,500

Explanation:

On the end-of-period spreadsheet, the credit adjustment of $500 is made in the Debit balance of Supplies inventory, which will net off the values and resulted Supplies Inventory value will be $1,500 at the end of the year and it will be reported on the financial statements. $1,500 should be appeared for supplies in the adjusted Trial Balance column.

7 0
3 years ago
Woodwick Company issues 9%, five-year bonds, on December 31, 2014, with a par value of $96,000 and semi-annual interest payments
ad-work [718]

Answer:

A) The issuance of bonds on December 31, 2016.

Dr Cash 104,031

    Cr Bonds payable 96,000

    Cr Premium on bonds payable 8,031

B) The first interest payment on June 30, 2017.

Dr Interest expense 3,517

Dr Premium on bonds payable 803

    Cr Cash 4,320

C) The second interest payment on December 31, 2017.

Dr Interest expense 3,517

Dr Premium on bonds payable 803

    Cr Cash 4,320

4 0
3 years ago
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