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MAXImum [283]
3 years ago
9

John: "I will sell you my laptop computer for $330." Mary: "Will you include the carrying case"? John: "Sold." a. There is a con

tract for the sale of the computer with the carrying case. b. There is a contract for the sale of the computer but the carrying case is not included. c. There is no contract for the sale of the laptop computer. d. There is a contract but it is unenforceable because it must be in writing. e. none of the above
Business
1 answer:
BartSMP [9]3 years ago
3 0

Answer:

Correct answer is a, there is a contract for the sale of computer with the carrying case

Explanation:

There is a contract between John and Mary to sell the laptop computer with the carrying case. Mary's counter offer to buy the laptop computer if the carrying case is included is indirectly accepted by John by replying "sold". That only means there is a meeting of minds between the two contracting parties  the seller (John) and the buyer who counter offered (Mary) to sell the laptop computer with the carrying case.

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What role should government play in a free market economy?
igor_vitrenko [27]
Economists, however, identify six major functions of governments in market economies. Governments provide the legal and social framework, maintain competition, provide public goods and services, redistribute income, correct for externalities, and stabilize the economy.
8 0
3 years ago
Read 2 more answers
The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are re
riadik2000 [5.3K]

Answer:

<u>Year 1 </u>

Jan. 8. Purchased a used delivery truck for $24,000, paying cash.

  • Dr Truck 24,000
  •     Cr Cash 24,000

Mar. 7. Paid garage $900 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck.

  • Dr Maintenance expenses - Truck 900
  •     Cr Cash 900

Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck.

Depreciation expense = 2 x 0.25 x $24,000 = $12,000

  • Dr Depreciation expense 12,000
  •     Cr Accumulated depreciation - truck 12,000

<u>Year 2 </u>

Jan. 9. Purchased a new truck for $50,000, paying cash.

  • Dr Truck new 50,000
  •     Cr Cash 50,000

Feb. 28. Paid garage $250 to tune the engine and make other minor repairs on the used truck.

  • Dr Maintenance expenses - Truck 250
  •     Cr Cash 250

Apr. 30. Sold the used truck for $9,500. (Record depreciation to date in Year 2 for the truck.)

depreciation expense = 2 x 0.25 x 4/12 x $12,000 = $2,000

  • Dr Depreciation expense 2,000
  •     Cr Accumulated depreciation - truck 2,000

truck sold at $9,500 - $10,000 (carrying value) = -$500 loss on sale

  • Dr Cash 9,500
  • Dr Accumulated depreciation 14,000
  • Dr Loss on sale - truck 500
  •     Cr Truck 24,000

Dec. 31. Record depreciation for the new truck. It has an estimated residual value of $12,000 and an estimated life of eight years.

Depreciation expense = 2 x 0.125 x $50,000 = $12,500

  • Dr Depreciation expense 12,500
  •     Cr Accumulated depreciation - truck new 12,500

<u>Year 3 </u>

Sept. 1. Purchased a new truck for $58,500, paying cash.

  • Dr Truck three 58,500
  •     Cr Cash 58,500

Sept. 4. Sold the truck purchased January 9, Year 2, for $36,000. (Record depreciation to date for Year 3 for the truck.)

Depreciation expense = 2 x 0.125 x 8/12 x $37,500 = $6,250

  • Dr Depreciation expense 6,250
  •     Cr Accumulated depreciation - truck new 6,250

truck sold at $36,000 - $31,250 (carrying value) = $4,750 gain on sale

  • Dr Cash 36,000
  • Dr Accumulated depreciation 18,750
  •     Cr Truck new 50,000
  •     Cr Gain on sale - truck new 4,750

Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $16,000 and an estimated useful life of 10 years.

Depreciation expense = 2 x 0.1 x 4/12 x $58,500 = $3,900

  • Dr Depreciation expense 3,900
  •     Cr Accumulated depreciation - truck three 3,900
5 0
3 years ago
The following data represent quantities of tea leaf pluckings (tender shoots from tea plants) from sixteen different plots of te
mr_godi [17]

Answer:

Explanation:

1)H_0 : All group means equal or \mu _1=\mu _2=\mu _3=\mu _4

H_1:\mu 1=\mu 2=\mu 3\neq \mu 4

At least one of the treatment group means are different

ANOVA TABLE      

<u>Source of Variation    SS         df      MS            F          P-value        F crit </u>

Between Groups       213.5      3    71.16667   0.65 0.5975     3.490295

Within Groups          1312.5      12   109.375  

MSB = SSB / DFB = 71.16667

MSE = SSE / DFE = 109.375

F = MSB / MSE = 0.650667

3) P-value: 0.597576

The test statistic is not significant and failed to reject the null hypothesis.

4) The test statistic is not significant. So, there is no evidence to conclude that there is a difference between groups.

4 0
3 years ago
Why don't most tax expenditures help much if your federal tax bill is zero? You don't qualify for tax breaks if your federal tax
MakcuM [25]

Answer: Most tax breaks reduce taxable income, but reducing taxable income below zero does not reduce the tax bill.

Explanation:

Tax breaks can be used to reduce your taxable income sometimes all the way to zero. This however simply means that you don't have to pay income tax but does not mean that there won't be other taxes to pay.

Because of these additional taxes left to pay, a person will still pay certain taxes even if their taxable income is below zero. Tax expenditures therefore do not help much with a federal tax bill of zero.

6 0
2 years ago
When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a:____
Gwar [14]

Answer:

c. Debit to Cash and a credit to Merchandise Inventory

Explanation:

When a buyer returns goods these are return outwards,

The correct entries to record them would be to debit cash as goods have been returned and credit the merchandise purchased so,

Debit cash account with the amount of goods returned

Credit Merchandise inventory with the amount of goods returned.

Hope that helps.

7 0
3 years ago
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