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rewona [7]
3 years ago
14

On October 2 a buyer made an offer, which he agreed to keep open for three days. The seller made a counter offer, which the buye

r rejected. The seller then accepted the original offer. The status of the original contract is:a. unenforceableb. enforceablec. voidd. valid
Business
1 answer:
Alisiya [41]3 years ago
8 0

Answer:

Void

Explanation:

As long as the seller made a counter offer, this counter offer made by the seller automatically leads to the rejection of the original offer from the buyer. In this light, as long as the original contract has been rejected by the seller, it is impossible for the seller to then change his mind and make a decision to accepting the original contract because at this point, the contract is void.

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Entries for Issuing Bonds and Amortizing Discount by Straight-Line Method On the first day of its fiscal year, Chin Company issu
lyudmila [28]

Answer:

The answer to the question is as attached  

Explanation:

a. The total credit matches the debit in a total of  $16,600,000

b. Cash $$15989036    

Discount on bonds payable (16600000 -15989036)    $610964

Bonds payable  $16600000

(To record issuance of bonds)  

b) Interest expense 825000+610964= $1435964

Discount on bonds payable 610964/11=  $55542

Cash 16600000*11%*6/12=   $913000‬

(To record discount amortized and interest paid)  

c) Interest expense 825000+55542=  $880542  

Discount on bonds payable 610964/11=   $55542

Cash 16600000*11%*6/12=   $913000  

Download xlsx
5 0
2 years ago
Clip Joint company is ready to sell its bonds. Which of the following financial questions is most relevant to the issue of the b
lord [1]

Answer:

(C) How much debt does clip joint company already have?

Explanation:

Bond investors are more likely to ask a bond issuer (the company issuing the bonds) its current level of debt before investing. This information is important as it informs the order that the current bond holders will occupy in a repayment hierarchy if the company was unable to pay back the debt and it needs to be liquidated.

7 0
3 years ago
On April 1, 2017, Jiro Nozomi created a new travel agency, Adventure Travel. The following transactions occurred during the comp
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Answer:46795

Explanation:

7 0
3 years ago
Feel great. smell great," goes the warm, lilting theme song of a television ad for perfume, as the model dances through a field
ira [324]

The likely reason as to why this ad is most likely to work is because of emotional appeals by which they are likely to work well with the social identity products that could be describe and read from the scenario above.

6 0
3 years ago
Paid $7,000 of accrued taxes at the time the plant site was acquired. choose an account title 2. Paid $200 insurance to cover a
xenn [34]

Answer: Please refer to Explanation

Explanation:

Hello. Your question was not complete as it lacked certain options.

I have attached it to this answer.

1.Paid $7,000 of accrued taxes at the time the plant site was acquired. LAND because it was an expense that was needed to acquire the land so it is capitalized

2. Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit. EQUIPMENT

3. Paid $850 sales taxes on a new delivery truck. EQUIPMENT.

4. Paid $21,000 for parking lots and driveways on the new plant site. choose an account title. LAND IMPROVEMENTS.

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6. Paid $8,000 for installation of new factory machinery. choose an account title. EQUIPMENT

7. Paid $900 for a 2-year accident insurance policy on the new delivery truck. choose an account title. PREPAID INSURANCE

8. Paid $75 motor vehicle license fee on the new truck. LICENSE EXPENSE.

4 0
3 years ago
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