Answer:
Behan will recover his amount.
Explanation:
The contract has not been formed as the contract is only enforceable if the contract is legally allowed which means that the selling of fireworks in this case scenario is not allowed and hence Behan and Fourth of July Company are both equally responsible for not committing to such type of agreements. So the company must payback the money as the contract is not enforceable in the jurisdiction.
The answer in the space provided is second. The diminishing
returns set happens when there is an increase with the input variable and by
this, it will likely cause the output to decrease as the marginal increase and
in the same time, other inputs remains to be in constant.
Basically saying when a relationship between 2 people is boosted, there is a balance between them. The more equal the rewards, the more permanent the relationship.
Answer: Please refer to Explanation
Explanation:
The following will be the journal entry on October 2nd
October 2
DR Cash $8,400
CR Treasury Stock $8,000
CR Additional Paid-in Capital $400
(To record reissuance of Treasury Stock)
Workings
Cash = 400 * 21
= $8,400
Treasury Stock = 400 * 20 (purchase price)
= $8,000
Additional Paid-in Capital = (21 - 20) * 400
= $400
Answer: $143,000
Explanation:
Accrual Income for the year = Cash from clients + Closing receivable balance - Opening receivable balance - Salaries - (Utilities - Opening utilities owed + closing utilities owed) - Advertising
= 420,000 + 60,000 - 52,000 - 240,000 - (35,000 - 6,000 + 4,000) - 12,000
= $143,000