Answer:
Yes, it is a binding contract.
Explanation:
A contract is a legal binding agreement between two or more parties at the court of law. The agreement could be in terms of money, services, right or duties between the parties involved.
Since a consent has been reached between the two parties before the judge, Charles would pay the sum in the stipulated manner. The acceptance of the offer of payment by Sandra made it a binding contract for Charles, so he is bound by this service until he pays the full amount to Sandra.
A sociologist might say that this is an example of how economic action is <u>embedded in</u> social relationships.
<u>Explanation:</u>
Complete question :
Your company has sales of $101,500 this year and cost of goods sold of $66,300. You forecast sales to increase to $118,900 next year. Using the percent of sales method, forecast next year's cost of goods sold. The Tax Cuts and Jobs Act of 2017 temporarily allows 100% bonus depreciation (effectively expensing capital expenditures). However, we will still include depreciation forecasting in this chapter and in these problems in anticipation of the return of standard depreciation practices during your career The forecasted cost of goods sold (COGS) is $ ___________ (Round to the nearest dollar.)
Answer:
$77,666
Explanation:
Given the following :
Sales for the year = $101,500
Cost of goods sold =$66,300
Forecasted increase in sales for next year = $118,900
Forecasted cost of goods sold for next year =?
Percentage cost of goods sold for this year:
Cost of goods sold / sales for this year
$66300/$101500
= 0.6532019
Forecasted cost of goods sold for next year:
(Forecasted increase in next year's sale * % cost of goods sold for this year)
= 118,900 * 0.6532019
= $77665.714
= $77666 ( nearest dollar)
The correct answer is a Car salesman
Explanation:
Event planners are professionals in planning and organizing events, which includes weddings, conferences, birthday parties, festivals, among others. Moreover, planning events involves multiple elements such as music, food, decoration, among others and this makes event planners be in contact with vendors (companies or people that sell specific products or services).
In this context, an event planner is likely to be in contact with musicians because music is an essential element in many events, caterers because food is quite common in events, and florists because flowers are often used as part of the decoration. However, it is not likely event planners are in contact with a car salesman because most events do not require buying cars and this is not a common element in events.
The total lease cost is $680.
<h3>
What is a lease?</h3>
- A lease is a contractual agreement that requires the user to pay the owner for the use of an item.
- Property, buildings, and cars are examples of leased assets. Leasing is also used for industrial or commercial equipment.
- A lease agreement, in general, is a contract between two parties: the lessor and the lessee.
- The lessee acquires the right to use the asset in exchange for regular rental payments from the lessor, who is the legal owner of the asset.
- The lessee also undertakes to follow certain conditions when using the property or equipment.
- A person leasing a car, for example, may agree to the restriction that the car will only be used for personal purposes.
To find the total lease cost:
- The total deposit is $575.
- License fees of $105.
- So, total lease cost = 575 + 105 = $680.
Therefore, the total lease cost is $680.
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