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Lina20 [59]
3 years ago
11

While sitting beside a swimming pool, your neighbor Bob, a roof installer, tells you that you should buy stock in HotNet because

it is about to skyrocket in value. You invest all of your money in the stock, which then drops to zero. You:
a) Sue Bob for misrepresentation
b) Sue Bob for negligent misrepresentation
c) Sue Bob for fraudulent misrepresentation
d) Cannot sue Bob for misrepresentation
Business
1 answer:
Nesterboy [21]3 years ago
8 0

Answer: d) Cannot sue Bob for misrepresentation

Explanation: A misrepresentation is a false statement made from one person to another that a certain fact is true or accurate when it is indeed false. The fact that the value of the stock I bought on Bob's opinion does not give me the right to sue him for misrepresentation (intentional). The reason is this, Bob's expression of his opinion concerning the HotNet stock does not usually constitute a misrepresentation even when it turns out that his opinion is incorrect. It wasn't intended, however, he could be sued for negligent misrepresentation.

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Porter Inc. acquired a machine that cost $367,000 on October 1, 2019. The machine is expected to have a five-year useful life an
pav-90 [236]

Answer:

The answer is "148050 and 246740".

Explanation:

Please find the complete question in the attached file.

for point a:  

Cost 365000  

Less: Salvage value 36000  

Depreciable cost 329000

Divide by Useful life 5

Annual Depreciation 65800

Depreciation expense 65800  

Accumulated Depreciation=(65800\times \frac{1}{4})+65800+65800= 148050

for point b:

Double declining balance rate =\frac{1}{5}\times 2= 40\%

Depreciation for 2019 =365000\times 40\%\times \frac{1}{4}=36500

Depreciation for 2020=(365000-36500)\times 40\%=131400

Depreciation expense for 2021 =(365000-36500-131400)\times 40\%= 78840

Depreciation expense 78840  

Accumulated Depreciation =36500+131400+78840 =246740

7 0
3 years ago
Which statement best describes the two billing cycle method that some credit card companies use
Alborosie

Answer:

Double-cycle billing is a method used by creditors, usually credit card companies, to calculate the amount of interest charged for a given billing period. It takes into account not only the average daily balance of the current billing cycle (usually one month), but also the average daily balance of the previous cycle.

Explanation:

idk...my mom helped me answer this for you

3 0
3 years ago
Q 11.35: Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for
Dvinal [7]

Answer:

Felix Incorporated

Exchange of Preferred Stock for Land:

Journal Entries:

Debit Land $90,000

Credit Preferred Stock $81,250

Credit Additional Paid-in Capital - Preferred Stock $8,750

To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.

Explanation:

Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value.  The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock.  Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records.  The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.

4 0
4 years ago
If this market for water were perfectly competitive instead of monopolistic, what price would be charged?
jekas [21]
If the market for water were perfectly competitive instead of monopolistic, the price that would be charged would not be able to be controlled by company, so it would be really close to the Equilibrium point.
So let's the the point is $ 120, that number will be your answer.
6 0
4 years ago
Blythe Company has provided the following​ information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per mont
NemiM [27]

Answer:

Break-even point (dollars)= $21,667

Explanation:

Giving the following information:

Blythe Company has provided the following​ information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per month $13,000

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 13,000 / [(45 - 18)/45]= $21,667

6 0
3 years ago
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