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Vadim26 [7]
3 years ago
7

Bill Builder entered into a contract with Carl's Carpets to supply him with the carpeting he needed to complete the renovation o

f Famous Restaurant. When Carl did not deliver the carpeting on the contract date, Bill had to find similar carpeting from a different vendor for 5 a yard more than he would have paid to Carl. There was a time is of the essence clause in Bill's contract with Famous Restaurant. Bill was to lose 300day for each day after the contract date that he was late in finishing the renovation. The 300 day represented the profit Famous Restaurant would lose each day it was not in operation. Bill told Carl about this clause, impressing on Carl the need for him to deliver the carpet on time. Bill finished the renovation three days after the contract date. The delay was due solely to Carl's failure to deliver the carpet on time. Bill can recover the 900 he lost from Carl as ___________ damages.
Business
1 answer:
pshichka [43]3 years ago
5 0

Answer:

consequential damages

Explanation:

According to my research on different types of law suits, I can say that based on the information provided within the question Bill can recover the 900 he lost from Carl as consequential damages. These are damages have happened because of one party's failure to meet a certain deadline or contractual obligation and can be proven in court. Therefore since Bill can prove that he lost the 900 because of Carl's negligence he will most likely win that case.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March Marc
san4es73 [151]

Answer:

1. Prepare general journal entries to record these transactions using the following titles:

March 1

Dr Cash (101) 175,000

Dr Office Equipment (163) 26,000

    Cr Common Stock (307) 201,000

March 2

Dr Prepaid Rent (131) 6,000

    Cr Cash (101) 6,000

March 3

Dr Office Equipment (163) 3,800

Dr Office Supplies (124) 2,200

    Cr Accounts Payable (201) 6,000

March 6

Dr Cash (101) 4,500

    Cr Services Revenue (403) 4,500

March 9

Dr Accounts Receivable (106) 10,900

    Cr Services Revenue (403) 10,900

March 12

Dr Accounts Payable (201) 6,000

    Cr Cash (101) 6,000

March 19

Dr Prepaid Insurance (128) 6,400

    Cr Cash (101) 6,400

March 22

Dr Cash (101) 4,000

    Cr Accounts Receivable (106) 4,000

March 25

Dr Accounts Receivable (106) 5,330

    Cr Services Revenue (403) 5,330

March 29

Dr Dividends (319) 5,400

    Cr Cash (101) 5,400

March 30

Dr Office Supplies (124) 1,700

    Cr Accounts Payable (201) 1,700

March 31

Dr Utilities Expense (690) 1,400

    Cr Cash (101) 1,400

2. Post the journal entries from part 1 to the ledger accounts.

Account      Description                                  Debit         Credit

101               Cash                                           175,000

                                                                                           6,000

                                                                          4,500

                                                                                           6,000

                                                                                           6,400

                                                                          4,000

                                                                                           5,400

<u>                                                                                             1,400  </u>

101               Cash                                           158,300

106              Accounts Receivable                 10,900        

                                                                                           4,000

<u>                                                                          5,330                     </u>

106              Accounts Receivable                 12,330

124              Office Supplies                            2,200

<u>                                                                          1,700                        </u>

124              Office Supplies                            3,900

128              Prepaid Insurance                       6,400

131               Prepaid Rent                                 6,000

163              Office Equipment                        26,000

<u>                                                                            3,800                      </u>

163              Office Equipment                        29,800

201              Accounts Payable                                              6,000

                                                                           6,000

<u>                                                                                                 1,700    </u>

201              Accounts Payable                                               1,700

307             Common Stock                                               201,000

319              Dividends                                       5,400

403             Services Revenue                                              4,500

                                                                                              10,900

<u>                                                                                                 5,330    </u>

403             Services Revenue                                             20,730

690             Utilities Expense                            1,400

3. Prepare a trial balance as of April 30.

Account      Description                                  Debit         Credit

101               Cash                                           158,300

106              Accounts Receivable                  10,900        

106              Accounts Receivable                  12,330

124              Office Supplies                             3,900

128              Prepaid Insurance                        6,400

131               Prepaid Rent                                 6,000

163              Office Equipment                        29,800

201              Accounts Payable                                               1,700

307             Common Stock                                               201,000

319              Dividends                                       5,400

                   Retained earnings                                             11,000

403             Services Revenue                                             20,730

690             Utilities Expense                            1,400

<u>                                                                                                                 </u>                

TOTAL                                                           234,430       234,430                                              

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