Answer:
b. Barb is correct. The agreement must be in writing to be enforceable.
Explanation:
For a contract between two parties to be enforceable, it will need to be verifiable. A phone conversation that involves verbal agreement can be denied by either party. So it is most preferable when contracts are on written form.
In this instance Andy had the following conversation and there was conflict in the agreement between the parties.
Andy: "This is to confirm our telephone conversation of earlier today. 200 lbs. of T-bone at $2.89 per pound." Barb: "Yes, but that's 100 pounds at $2.99." Andy: "Too late, we already reached agreement by phone." Barb: "Too bad, it wasn't in writing."
Of the agreement had been in writing then it would have been enforceable on Barb.
Options:
0.98
1.03
9.28
9.06
Answer:
<u>Correct answer is A 0.98</u>
Explanation:
Total asset turnover = Sales / Average total assets.
Sales = $ 1390000 (Given in the question)
Average total assets = (1446000 + 1404000) / 2
= $ 1425000.
Accordingly, Total asset turnover of company for the Year 2
= 1390000 / 1425000
= 0.98 (Option A)
Answer: The given statement is false.
Explanation:
Immigrants give a boost to the average wages of Americans by increasing the overall productivity and help in investment. Immigrant workers are more advanced in skill sets and knowledge which helps the native Americans to improve their productivity. This process has boosted the investment which in turn increased the demand for labor and increased the pressure on improving wages of labor.
Answer
Sales tax Payable = $780
Entry to record transaction is:
Dr: Cash $16,380
Cr: Sales Tax Payale $ 780
Cr: Sales $ 15,600
Explanation:
Coghlan Auto Supply sales are inclusive of tax so at first step it is necessary to segregate sales tax from the total sales of $16,380.
In order to calculate sales tax in Coghlan total sale divide the total sales figure with 1+the sales tax rate i.e (1+5%=1.05)
So the sales exclusive of tax will be: $ 16,380/1.05 = $15,600
Tax can be calculated now by subtracting Net sales by gross sales i.e $16,380-$15,600 = $780.