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Debora [2.8K]
3 years ago
7

Pam bought Mississippi State Lottery tickets. Several days later, she learned that someone had won the lottery but that the winn

er had not yet come forward. She searched for her ticket to see if she had selected the winning numbers, but was unable to find it. Although the lottery ticket was gone, Pam still possessed the play slip she had used when she purchased the ticket. She checked the numbers on the play slip and discovered that she had the winning numbers for the lottery. Reasoning that the play slip would satisfy the Lottery office, Pam laid her claim. The Lottery Office took the position that Pam needed to produce the actual winning ticket as per the rules, and it denied her claim. Pam sued the Lottery Office for breach of contract and unjust enrichment. Will she succeed?
Business
1 answer:
nikdorinn [45]3 years ago
5 0

No, Pam will not succeed.

<u>Explanation:</u>

Pam will not succeed in the case in which she had sued the lottery office for claiming her lottery money which she had won. The reason for this is that she had lottery ticket.

And the rules of the contract of the lottery say that the ticket of the lottery must be shown if the amount of the lottery has to be claimed by the winner. Since Pam had accepted that rule when she had entered in to the contract, so now she has no right to sue the lottery office.

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Arthur has taken up roller skating. he can buy a good pair of skates for $79 or rent a pair for $4.00 at the rink. if he plans t
soldier1979 [14.2K]
Arthur could save $113.00 by buying the skates instead of renting it for $4.00 for 4 weeks in a month, and 12 months in a year.  
4.00 x 52 (weeks) = 208.00
208.00 - 79.00 (buying price) = 129.00
5 0
4 years ago
Hodge Co. exchanged Building 24 which has an appraised value of $4,971,000, a cost of $7,691,000, and accumulated depreciation o
VLD [36.1K]

Answer:

Hodge Co. Books

Debit : Building M  $4,163,000

Debit : Accumulated Depreciation Building 24 $3,528,000

Credit : Cost of Building 24 $7,691,000

Fine Co. Books

Debit : Building 24  $4,283,000

Debit : Accumulated Depreciation Building 24 $4,796,000

Credit : Cost of Building 24 $9,079,000

Explanation:

Where an exchange transaction lacks commercial substance, the accounting standard IAS 16 requires that the Asset that is <em>acquired</em> is measured at the Carrying Amount of the <em>Asset given up</em>, and <u>no gain or loss</u> can be estimated reliably.

Carrying Amount is Cost of Asset <em>minus</em> Accumulated Depreciation

The Carrying Amounts for Building 24 and Building M can now be calculated as follows -

Carrying Amount :

Building 24 = $7,691,000 - $3,528,000 = $4,163,000

Building M = $9,079,000 - $4,796,000 = $4,283,000

Then, apply the Carrying Amounts as new cost of assets acquired for Both Companies as required by the standard.

5 0
3 years ago
If a company uses the indirect method to report cash flows, where, if at all, would a decrease in accounts receivable be classif
Burka [1]

Answer:

The answer is C. operating activities section

Explanation:

Irrespective of whether it is direct method or indirect method, decrease or increase in accounts receivable will be in an operating activities section. Changes in working capital like inventory reflects in operating section.

Investing section contains the purchase and sale of long term asset or investment. And financing section is about repayment of debt and equity

7 0
3 years ago
People who bring resources together to make a good or service ____
IrinaVladis [17]
The answer to your question would be <span>entrepreneur!</span>
8 0
3 years ago
Match the different taxes to the levels at which these taxes are levied on consumers and businesses,
stellarik [79]

Answer:

Payroll tax, social security tax

Income tax, property tax, sales tax

Explanation:

Payroll tax, social security taxes are levied on consumers and businesses with a total percentage of 12.4. Overall, 6.2 % is the payroll tax and 6.2% is the social security tax.

Income tax, property tax, sales tax; these three types of taxes are imposed on consumers and businesses and depend on variable and fixed assets.

3 0
3 years ago
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