Answer: (D) Substantial
Explanation:
The substantial performance is one of the type of contract law performance which is basically define the perfect tender law and in this performance the contractor are able to complete their task on the basis of given terms and conditions of the contract.
According to the given question, the Building restoration Inc., is deals with the Causal dining Inc., and they both are planning for opening the Eat up restaurant so the BRI organization are following the substantial performance as the BRI company is able to accomplish their task on time.
Therefore, Option (D) is correct answer.
Answer:
$289,000
Explanation:
The computation of the adjusting basis in case of sale of the home is shown below:
= Purchase value of home + additional purchase cost + cost of swimming pool + new air conditioning system
= $250,000 + $4,000 + $30,000 + $5,000
= $289,000
In case of sale of the home, we consider all the costs which are given in the question as it related to the sale of the home
Answer:
Dr. Cr.
Cost of Goods Sold $200
Merchandise Inventory $200
Explanation:
Inventory is value at Lower of Cost and Net realizable value.
Cost of Inventory = $8,000
Net Realizable Value of Inventory = $7,800
The lower value is the Net realizable value and Inventory should be reported by $7,800 on the balance sheet. The net difference of $200 is adjusted to bring the value of inventory to it net realizable value.
Expense to be recorded = $8,000 - $7,800 = $200
Answer:
D. Search engine
Explanation:
<em>The tool that is most helpful in finding information on the web would be </em><em>search engine.</em>
<u>Search engines are applications or programs built solely for searching for information from a database of information based on the keyword or characters input by users.</u>
Web search engines are therefore built to retrieve information from online database based on keyword inputs. They are best used for finding information on the internet or web. Examples include Google, Ask.com, etc.
<em>The correct option is </em><em>D.</em>
Answer:
The amortization expense that should be recorded by Smith & Sons in the second year is $3,750
Explanation:
The computation of the amortization expense in the second year is shown below:
= (Cost of patent) ÷ (expected economic life of the patent)
= ($45,000) ÷ (12 years)
= $3,750
The amortization expense should be the same for the expected life i.e 12 years
For more understanding, we pass the journal entry which is shown below:
Amortization expenses A/c Dr $3,750
To Patent A/c $3,750
(Being amortization expense recorded)