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tiny-mole [99]
3 years ago
5

Farmer Elvin is holding 200 pounds of potatoes in storage for Chef Noble, but Chef Noble has breached the contract by failing to

pay for the potatoes. If Farmer Elvin sells the potatoes to a local diner to make potato soup and salad, then this action would be considered a(n)
Business
1 answer:
lisabon 2012 [21]3 years ago
3 0

Answer:

be considered reasonable mitigation of damages.

Explanation:

Based on the information provided regarding the scenario at hand it can be said that this action would be considered reasonable mitigation of damages. This is a law principle that requires that a party who has suffered a loss due to a breach of contract (in this case Farmer Elvin) needs to take reasonable action in order to minimize the amount of the loss that they have suffered. Which in this case is exactly what Farmer Elvin is doing in order to recover some of the money that he lost from the breached contract by selling the potatoes to a local diner.

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Brendan buys a used car in April 2020 from his neighbor for $20,000. After one month, he loses his job and decides to sell the c
zubka84 [21]

Answer:

the increase in nominal GDP is $29,000

Explanation:

The computation of increase in nominal GDP is as follows:

= Selling value of car + difference

= $22,000 + ($27,000 - $20,000)

= $22,000 + $7,000

= $29,000

hence, the increase in nominal GDP is $29,000

We simply added the selling value and the difference

5 0
3 years ago
The following information was available from the inventory records of Sunland Company for January: Units Unit Cost Total Cost Ba
luda_lava [24]

Answer:

Cost of Ending Inventory  $ 47,077.74

Units on Hand 31 Jan =  4,600

Weighted Average Cost= $ 10.24per unit

Explanation:

We divide the total cost with the total number of units  to get the weighted average cost per unit.

Sunland Company

                                       Units      Unit Cost       Total Cost      

Balance at January 1       9000          $9.70            $87300

Purchases: January 6      6000          10.35              62100

<u>January 26                       8300           10.73               89059 </u>

<u>Total Units</u>                       23,300                               238,459

Sales January 7               (7400 )

January 31                        (11300 )

Units on Hand 31 Jan =  4,600

Weighted Average Cost= Total Cost/ Total Units = 238,459/ 23,300 =

$ 10.235≅ $ 10.24

Cost of Ending Inventory = 4,600*$ 10.24= $ 47,077.74

8 0
3 years ago
You have just purchased a new warehouse. to finance the purchase, you’ve arranged for a 30-year mortgage loan for 80 percent of
Alexxx [7]
We are asked to find the APR on this load.
Given:
Purchased price: $2,900,000
Monthly payment: 14,900
Amount borrowed: 0.80($2,900,000) = $2,320,000

Using the PVA equation:
PVA = $2,320,000 = $14,900 [{1-1/(1+r)]^360}/r]
r = 0.560%

APR is the monthly interest rate times the number in months of the year. 
APR = 12(.560) = 6.72%
3 0
3 years ago
Read 2 more answers
A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7
VashaNatasha [74]

Answer:

correct option is a. $617,911

Explanation:

given data

issued = $600,000

rate = 10 %

time 5 year

amount  = $648,666

effective-interest rate =  7%

solution

we get here carrying value so first we get here Interest paid per semiannual period that is

Interest paid per semiannual period = $600000 ×10% × \frac{6}{12}  

Interest paid per semiannual period = $30000

and

Interest expense on 30 June = $648666 × 7% × \frac{6}{12}  

Interest expense on 30 June = $22703

and

Interest expense on 30 December = $641369 × 7% × \frac{6}{12}  

Interest expense on 30 December = $22448

so

Interest expense on 30 June  = ($641369 - $7552) × 7% × \frac{6}{12}  

Interest expense on 30 June = $22184

and

Interest expense on 30 December = ($633817 - $7816) × 7% × \frac{6}{12}  

Interest expense on 30 December = $21910

so as that we get Carrying value of 1st January that is

Carrying value of January 1 =  $633817  - $7816-8090

Carrying value of January 1 = 617911

so correct option is a. $617,911

7 0
3 years ago
​Calligraph Publishing Company has created a system for storing every piece of data about every one of its books, both those tha
Tanzania [10]

Answer:

The answer is (A) knowledge management system.

Explanation:

A knowledge management system is a type of system used to create, share, use, and manage the knowledge and information of an organization. It is used to manage documentation of information in a company, which can include information about products they manufacture, how to execute services that the company provides, how the company operates, and so on.  

6 0
3 years ago
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