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tresset_1 [31]
3 years ago
6

Ok, so, theoretical question: If I bought the Mona Lisa legally, would anyone be able to stop me from eating it? Why or why not?

Business
1 answer:
sammy [17]3 years ago
5 0

Art collectors might stop you, but uh

nobody else would, i guess??

why?

well, the Mona Lisa is a very famous painting and a lot of people, hence art collectors, would <u>kill</u> to have it.

so there's your answer, bud! °ω°

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Answer and Explanation:

The preparation of the statement of stockholder equity is presented below:

Particulars      Common Stock    Additional Paid in Capital   Retained Earnings   Total

Balances, October 1   $150,000    $3,225,000    $12,400,000    $15,775,000

Issued Common Stock   $50,000   $750,000                              $800,000

                                 (50,000 shares × $1)                            (50,000 shares × $16)

Add:  Net Income                                                  $2,350,000       $2,350,000

Less:  Dividends                                                    -$475,000          -$475,000

Balances, October 31    $200,000    $3,975,000   $14,275,000   $1,8450,000

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3 years ago
If a seller includes an express warranty in the written sales contract, any disclaimer is invalid.a. Trueb. False
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Answer:

True

Explanation:

A disclaimer is a statement seeking to define the limits of a party's rights or obligation concerning a legally binding agreement.  In a warranty disclaimer, the seller will include a statement that explains conditions or situations in which the warranty will not apply. The seller discharges themselves from any liabilities that the buyer may incur should an incident detailed in the warranty disclaimer arises.

Disclaimer warrants are allowed and legal. No law demands that the seller offer any form of warranty. However, a disclaimer warrant cannot be issued where an implied contract applies. For example, if you buy a fridge, you expect it to keep food items cold. A disclaimer statement in the sale of the fridge stating that the seller will be not responsible if the refrigerator cannot keep things at low temperatures is illegal.

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$113,200

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Data provided

Cost of goods sold = $101,000

Increase in Inventory = $8,100

Decrease in Accounts payable = $4,100

The calculation of Adjusted cost of goods sold is shown below:-

Adjusted cost of goods sold = Cost of goods sold + Increase in Inventory + Decrease in Accounts payable

= $101,000 + $8,100 + $4,100

= $113,200

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