Answer:
A farmer is the one that owns the cattle and is ready to sell it on the market demand, while the meatpacker is the one who buys the product and sells it in different parts to the end consumers.
Since they both are using the commodity market to reduce the risk, the farmer will be the one who agrees to sell the cattle in the future at a fixed rate, while the meatpacker will be the one who agrees to buy the cattle in the future at a specified price fixed by him.
Hope this helps. ThankYou.
Answer: Crater will be bound because of Borg's apparent authority.
Explanation:
Crater Corp. will be bound to the contract since Bo Borg has the apparent authority as the acting Vice President of purchasing. Even though he went over the agreed amount that was over 2 million in the contract. Since the Shady company was unaware that he had exceeded his authority the contract will stay in place. If Shady company had of known that he did not have the final say and needed approval the result of the transaction would of been different.
Answer: b) $364,090
Explanation:
The Capitalized cost of the land would be the costs incurred to acquire the land and to set it up.
Capitalized cost = Purchase price + demolition of old building + title insurance + attorney fees + property taxes(for period since purchase) - scrap value
= 350,000 + 11,700 + 810 + 540 + (3,000 - 350) - 1,610
= $364,090
Answer:
True
Explanation:
It is True because net income is shown in the Balance sheet as a credit account as it increases the revenues and as a debit column in the Income Statement of the end-of-period spreadsheet.
This entry is reversed for the net loss. It would be shown as a debit column in the Balance Sheet ( indicating an expense/ a loss) and as a credit column in the income statement.
The net income is shown as a debit column in the Income Statement of the end-of-period spreadsheet indicating that the credits ( revenues) are more than the debits ( expenses) and we get the balance of the income after deducting the expenses from the revenues. It is entered above the debit totals.
