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BartSMP [9]
4 years ago
13

Houston repeatedly promised his daughter, Allyson, that he would pay one-half of the costs for Allyson to attend a private, hist

orically African-American college or university. Relying on this promise, Allyson applied to and was accepted into Clark Atlanta University. Houston reiterated this promise after Allyson’s acceptance and specifically agreed to pay one-half of the costs of her tuition, room, board, books, and other expenses at Clark (less certain scholarship, work study, and grant monies). Allyson relied on this reiterated promise and, forgoing opportunities to apply to and enroll in other colleges or universities of significantly less cost, enrolled in Clark. Houston nevertheless refused to honor his commitment. Allyson sued her father alleging promissory estoppel. Did she have a good promissory estoppels claim?
Business
1 answer:
notsponge [240]4 years ago
8 0
It is 1 3/4 because I know it
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Debt that is callable by the creditor in the upcoming year, but is not expected to be called, is reported as
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Answer: current liability

Explanation: Callable debts are simply called bonds (an investment instrument whereby an individual or investor loans a certain amount to an organization in other to finance a project or business that yields profit) which the creditor or issuer call of or terminate a bond before it reaches maturity usually due to decline or decrease in the interest rate on investment, which could have fallen below or seem illogical given the Interst rate in the bond. As such, bonds which are Callable are reported as current liabilities even when they are not expected to be called as current liabilities should include all of an organization's debt or liabilities which should be cleared within 12 months(current fiscal year).

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4 years ago
Accrued salaries payable of $100000 were not recorded on December 31, 2017. Office supplies on hand of $57000 on December 31, 20
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Answer:

In 2017

Net Income and Retained Earning are overstated by $100,000

Expenses and Payables are understated by $100,000.

In 2018

Inventory, Net Income and Retained Earning are understated by $57,000

Expenses are overstates by $57,000

Explanation:

Accrued Salaries is Recorded as follow

Dr. Salaries Expense

Cr. Salaries Payament

Non recording of this entry will result in understatement of Expenses and Payables by $100,000 over statement of Net income and retained earning by the same amount.

Treatment of Office supplies of $57,000 as expense will overstate the expenses  and understate the the inventory, Net income and Retained Earning.

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Which of the following procedures would allow you to make a spectrum of the Sun similar to the one shown, though with less detai
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If you put a narrow beam of sunlight through a prism, the prism will bend different light wavelengths differently, allowing the sun's white light to diffuse into a rainbow of hues.

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<h3>What is Splitting of Light?</h3>
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  • The tendency of a substance to slow down light as it travels through it is simply measured by the optical density. As was previously said, a light wave passing through a transparent substance interacts with its atoms.
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