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Debora [2.8K]
3 years ago
12

A person buys a used 2015 Toyota Corolla and finds that there is a problem in the drive train so that the whole set of axles mus

t be replaced. However, the state has a lemon law that protects the buyer from these kinds of discoveries for 30 days. These lemon laws attempt to correct for the problem of:_____________.
Business
1 answer:
julia-pushkina [17]3 years ago
4 0

Answer:

Safety

Explanation:

Lemon Laws were made to protect customers from defective vehicles with safety problems, or malfunction defects that affect its safety, use or value. Depending on the number of issues detected, the car reveals itself to be a "lemon". Generally, most states provide 3 attempts to solve the problem within a given period. In this case, 30 days.

Since the problem found was on the drivetrain and the axles, then it is a matter of safety after all.

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You created a financial model for a pitchbook being presented tomorrow to a potential new client. While reviewing the final vers
sashaice [31]

Explanation:

A pitchbook is confidential document. It is basically a sales document, used by the sales force, which contains main features or attributes of the firm, the potential of the firm and the future aspects of the firm in detail.

So keeping the given question in mind, I would write to my supervisor as follows:

Subject: Assistance Required

Body:

Dear Sir,

By reviewing the whole document finally, which is to be presented to the client tomorrow, I found some mistakes in the results. I came to know that the results are incorrect and are surely needed to be corrected before the presentation.

I recommend you to delay the meeting for 3 hours by the scheduled time, as i need to check and correct the whole figures again and this would take time.

I am looking forwards for your advice.

Best Regards

6 0
3 years ago
On January 1, 2021, Laramie Inc. acquired land for $6.2 million. Laramie paid $1.2 in cash and signed a 6% note requiring the co
stepladder [879]

Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.

6 0
3 years ago
A static budget is one that shows estimated revenues and costs at multiple activity levels. true or false
maxonik [38]

Answer:

A static budget is one that shows estimated revenues and costs at multiple activity levels.

True

Which of the following is not typically found in a decentralized organization?

Asset center

Explanation:

3 0
3 years ago
The transactions completed by Franklin Company during January, its first month of operations, are listed below. Assume that Fran
Digiron [165]

Answer:

Issued check for a payment on account CP, subsidiary posting

Issued check for rent CP, No subsidiary posting

Received cash for a sale CP, No subsidiary posting

Issued an invoice to a customer R, subsidiary posting

Purchased a computer for cash CP, subsidiary posting

Received a check from a payment on account CR, subsidiary posting

Purchased equipment on account P, subsidiary posting

Issued check for salary CP, No subsidiary posting

Issued check for purchase of supplies CP, No subsidiary posting

Issued check for advertising expense CP, No subsidiary posting

Paid for the equipment purchased on account CP, subsidiary posting

Recorded the adjustment for supplies used during the month G, Subsidiary posting

Purchased supplies on account P, subsidiary posting

7 0
4 years ago
On January 2, 2020, Pronghorn Company sells production equipment to Fargo Inc. for $52,000. Pronghorn includes a 2-year assuranc
Yanka [14]

Answer:

January 2, 2020

Dr Cash $52,000

Cr Sales Revenue $52,000

December 31, 2020

Dr Warranty expense $890

Cr Cash $890

December 31, 2020

Dr Warranty expense$640

Cr Warranty Liabiltiy $640

Explanation:

Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.

January 2, 2020

Dr Cash $52,000

Cr Sales Revenue $52,000

December 31, 2020

Dr Warranty expense $890

Cr Cash $890

December 31, 2020

Dr Warranty expense$640

Cr Warranty Liabiltiy $640

6 0
3 years ago
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