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deff fn [24]
3 years ago
14

Macro Marketing, Inc., and National Food Corporation (NFC) discuss the terms of a contract. Macro then faxes NFC a memo on Macro

's letterhead that summarizes the items on which they agreed, including a two-year term. Macro begins to perform, but NFC refuses to pay. Macro files a suit to collect. NFC claims that there is no contract. The transaction between Macro and NFC falls within the:_______
Business
1 answer:
BlackZzzverrR [31]3 years ago
5 0

Answer: Statute of Frauds

Explanation:

The statute of frauds is a legal concept whereby it is required that certain forms of contracts have to be executed in writing. In this case, when there is a breach of the contract by one of the parties that are involved, then a the defendant can raise the statute of fraud as a defense.

In the question, we are told that Macro Marketing, Inc., and National Food Corporation (NFC) discuss the terms of a contract. Macro then faxes NFC a memo on Macro's letterhead that summarizes the items on which they agreed, including a two-year term. Then, Macro begins to perform, but NFC refuses to pay. Macro then files a suit to collect but NFC claims that there is no contract. It should be noted that the transaction between Macro and NFC falls within the statute of fraud

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Crawford Company has total proceeds (before segregation of sales taxes) from sales of $7,155. If the sales tax is 6%, the amount
NeTakaya

Answer:

$6,726

Explanation:

If Crawford Company has total proceeds (before segregation of sales taxes) from sales of $7,155. If the sales tax is 6%, the amount to be credited to the account Sales Revenue is:

Sales Proceeds - 7,155

less: Sales Tax -    <u>429</u>

Sales Revenue -  <u>6,726</u>

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3 years ago
Bravo company had $5,100 of supplies on hand at the beginning of 2016. on march 31 bravo purchased an additional $12,400 of supp
lana66690 [7]
Supplies expense is $11,400.00.

Expenses = Beg Inv + Addl Inv - Remaining
                 = 5,100 + 12,400 - 6,100
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8 0
3 years ago
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What happens when a single seller market develops into a competitive market?
Luden [163]

Answer:

Introduce new or better products to existing markets. Continue development on your existing products, like your bestsellers, in order to renew your commitment to current customers to the best of your abilities. Through product development, you can expect to outperform competitors and keep your customers happy. Explore Partnership Opportunities

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Pharoah Company had checks outstanding totaling $42200 on its May bank reconciliation. In June, Pharoah Company issued checks to
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Answer:

$109,700

Explanation:

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Formula for Outstanding checks on bank reconciliation will be:

Outstanding checks on bank reconciliation = Total checks outstanding+Checks issued during month -checks cleared during the month

Hence,

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Therefore the amount of outstanding checks on Pharoah Company's bank reconciliation should be $109,700

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