<u>Answer:</u>
<em>Yes, but only to clarify the ambiguous contract terms
</em>
<em></em>
<u>Explanation:</u>
Breach of contract is a legitimate reason for activity and a sort of common wrong, wherein a sound understanding of anticipated trade isn't regarded by at least one of the gatherings to the agreement by non-execution or obstruction with the other party's presentation.
A material breach is the most genuine type of break of agreement. In these cases, somebody has failed to maintain their obligations as spread out in the contract. At the point when this happens, the harmed party can seek after harms in a standard suit. In the end, when a contractual worker finishes an undertaking yet isn't paid, this is viewed as a material breach.
Answer and Explanation:
The Journal Entry is shown below:-
Mar-01
Cash dividends Dr, $98,250
(131,000 × $0.75)
To Dividends payable Dr, $98,250
(Being declaration of dividends is recorded)
Mar-10
No entry required
Mar-31
Dividends payable Dr, $98,250
To Cash $98,250
(To record payment of dividends)
Answer:
D. $144
Explanation:
With this method the last merchandise entered is the first to come out of existence.
At the time of the sale of May 20, the situation was as follows.
5/3 Purchase 5 units $20
5/10 Sale 3 Units
5/17 Purchase 10 units $24
5/20 Sale 6
The cost of selling these 6 units corresponds entirely to the cost of the purchase of May 17.<em> It does not matter that there</em> are still 2 unsold units of the previous purchase in the warehouse since we are using the LIFO method. So 6 units x $24 = $144
Answer:
Explanation:
The investments, being recorded under the fair value method, the accounting for the held-to-maturity securities would be similar to the accounting for trading securities. In the balance sheet of Company T, the securities would be shown at the fair value, and the unrealized gains or losses would also be shown in the income statement in the corresponding period.
