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andrew-mc [135]
4 years ago
13

In most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed

contract), the minor may ________ the contract
Business
1 answer:
Jlenok [28]4 years ago
8 0

Answer: disaffirm

Explanation:

most cases, whether the contract has not yet been performed (an executory contract) or has been fully performed (an executed contract), the minor may disaffirm the contract.

It should be noted that a contract that is signed by a minor unless in some rare exceptions is normally void and therefore, the minor can disaffirm the contract.

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Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 620 Balance in
Tresset [83]

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>2. $10,620</u>.

<u>Explanation</u>:

<em><u>Given</u></em>:

Currency and coins= $620

Balance in checking account= $1,600

Customer checks waiting to be deposited= $2,500

Treasury bills= $2700

Marketable equity securities= $10,600

Commercial paper cost= $5900

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents= 620+1600+2500+5900

                         = $10,620

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>$10,620</u>.

5 0
3 years ago
On February 12, 2018, Meca reacquired 2 million common shares at $19 per share. On June 9, 2019, Meca reacquired 3 million commo
expeople1 [14]

Answer:

Weighted-average cost of treasury shares is 16 per share amounting 48 million dollars in total. (W-1)

Explanation:

(W-1) 16 * 3M i.e total number of share sold (W-1.1)

   

(W.1.1)

Calculations    

   

Date Purchase               Sale              Closing stock WA method

12-Feb-18 2M/19/38M*                                   2M/19/38M

09-Jun-19 3M/14/42/M                                   5M/16/80M

   

25-May-20                     3M/22/42/M           2M/16/32M

Date         Purchase       Sale          Closing Stock FiFo method

12-Feb-18 2M/19/38M*                                       2M/19/38M

09-Jun-19 3M/14/42/M                                     2M/19/38M

                                                                    3M/14/42/M

25-May-20                  3M/22/42/M                    2M/14/28M

*Key  2M/19/38M means 2 millions share at the rate of 19 each totaling 88 million dollars.    

3 0
4 years ago
For the year, Uptowne Furniture had sales of $818,790, costs of $748,330, and interest paid of $24,450. The depreciation expense
slava [35]

Answer:

Dividend paid in current year = $6,898

Explanation:

Calculating net profit

Sales = $818,790

Less: Costs = $748,330

Less: Interest = $24,450

Less: Depreciation = $56,100

Earning before taxes = Loss (10,090)

Tax benefits = $10,090 \times 34% = $3,431

Net losses = $10,090 - $3,431 = $6,659

Opening retained earnings = $172,270 Less: Losses for the year = $6,659

Balance = $165,611

Less: Closing balance = $158,713 = $6,898

Thus<u> amount of dividend paid in current year = $6,898</u>

Change in value of common stock will not be considered.

5 0
3 years ago
How long after irs accepts return will it be direct deposited.
avanturin [10]

Answer:

within 7-10 days of receiving your tax return, and process paper checks within about two weeks.

Explanation:

6 0
3 years ago
Which of the following is NOT a characteristic of a market in equilibrium?
iren2701 [21]

B. All consumers are able to purchase an amount equal to their quantity demanded.

6 0
3 years ago
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