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Harlamova29_29 [7]
3 years ago
7

Beau went shopping at ABC Carpet. He saw some carpet he liked but could not make up his mind. The manager at ABC Carpet wrote do

wn the proposed purchase price for him along with a statement that the price would be good for three months. Two months later Beau went back to ABC Carpet to purchase the carpet. Unfortunately, the price had gone up. Beau showed the manager his writing and guaranteed price, but the manager said that the offer was no longer good. Although he had to pay more than the ABC manager had initially promised, Beau proceeded to purchase his carpet from XYZ carpet, and he also contracted with XYZ to do the installation. Unfortunately, Beau almost immediately started to have problems with the carpet. Beau told the sales manager for XYZ Carpet that he was planning on bring suit for breach of warranty. The sales manager, however, told him that the breach of warranty provisions only applied to sales of goods and that the carpet purchase was for installation, a service. Which of the following is true in most states regarding whether the UCC applies to the contract Beau had with XYZ Carpet?A. Common law will be applied, not the UCC, because the contract was mixed.B. The UCC will be applied, not common law because the contract was mixed.C. The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.D. The court will apply the service-warranty test to determine whether the predominant purpose of the contract was the provision of a service in which case the UCC would apply.
Business
1 answer:
Taya2010 [7]3 years ago
5 0

Answer:

C) The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.

Explanation:

From the case it is clear that the contract happens between Beau and the Manager of XYZ is of selling the carpet only. The service on the other hand, is not a department of UCC. The service contracts are department of common law whereas sales of goods law is applied to UCC or Uniform Commercial Code. So, except this option, all other options are false.

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The management at Dime Corporation is investigating purchasing equipment that would increase sales revenues by $527,000 per year
Contact [7]

Answer:

option (D) : 34.05%

Explanation:

As per the data given in the question,

Computation of Simple rate of return :

Investment = $425,000

Depreciation = (Initial cost - salvage value) ÷ useful life

= ($425,000 - 0) ÷ 10

= $42,500

Net profit = Sales revenue - cash operating expense - Depreciation

= $527,000-$339,800-$42,500

= $144,700

Simple rate of return = Net Profit ÷ Investment

= $144,700 ÷ $425,000

= 34.05%

Hence, option (D) is correct answer

5 0
3 years ago
Southeast Airlines had pretax earnings of $30 million, including a gain on disposal of a discontinued operation of $5 million. T
klasskru [66]

Answer:

Income tax expense of $14 million should report in the income statement

Explanation:

Southeast Airline should report the income on the basis of their earning in the year.

Earning Before Tax = $30 Million

Tax on Earning Before Tax = $30 Million x 40% = $12 million

Gain on disposal = $5 million

Tax on Gain on disposal = $5 million x 40% = 2 million

Total Income tax = $12 million + $2 million = $14 million

Another way

Total Income tax = ( $30 million + $5 million ) x 40% = $14 million

6 0
3 years ago
Skolits Corp. issued 10-year bonds 2 years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bon
kykrilka [37]

Answer:

7.36%

Explanation:

Nper = (10-2)*2 = 16

Pmt = 1000*8.7%/2 = 43.5

Pv = -108%*1000 = -1080

Fv = 1000

YTM = Rate(Nper, pmt, -Pv, Fv)*2

YTM = Rate(16, 43.5, -1080, 1000)*2

YTM = 0.036795696 * 2

YTM = 0.073591392

YTM = 7.3591392%

YTM = 7.36%

6 0
3 years ago
Inventories held for sale in the normal course of business are classified in the balance sheet as?
Iteru [2.4K]

Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.

<h3>What is meant by current liability?</h3>

This is the term that is used to refer to all of the financial obligations that the customer would have to have due to themselves in the long run. These are the liabilities that are known to be dropped in the current assets and would then be settled in the course of a year.

Hence we can say that Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.

Read more on Current liabilities here: brainly.com/question/28039459

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4 0
1 year ago
The amount of interest you will earn in one year from a savings account is the _____.
Vitek1552 [10]
The Y in APY means yearly, the answer is APY
3 0
3 years ago
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