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lbvjy [14]
3 years ago
11

Dozier and his wife, daughter, and grandson lived in the house Dozier owned. At the request of the daughter and grandson, Pascha

ll made some improvements to the house. Dozier did not authorize these, but he knew that the improvements were being made and did not object to them. Paschall sued Dozier for the reasonable value of the improvements, but Dozier argued that he had not made any contract for such improvements. Was he obligated to pay for such improvements?
Business
1 answer:
liubo4ka [24]3 years ago
6 0

Answer: Yes

Explanation: In the above case, a quasi-contract was formed. This is when a bilateral contract is not in place but one party will enjoy the benefit of the activities of the other party and may be enriched  by it.  

A bilateral agreement is the exchange of a promise for another and in this case would have been, the promise that Dozier would pay for Paschall’s work. This was not established, however, Dozier will benefit from Paschall’s work unduly if he does not pay for the improvements. The law holds that he has to pay for Paschall’s work to prevent being unjustly enriched.

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Hex Industries reports the following information for May: Sales $ 990,000 Fixed cost of goods sold 118,000 Variable cost of good
Semmy [17]

The gross profit of Hex Industries for May under absorption costing is $604,000.

<h3>What is absorption costing?</h3>

Under absorption costing, the total or full costs of manufacturing or (variable and fixed) cost of goods sold are included when determining the gross profit.

<h3>Data and Calculations:</h3>

Sales $ 990,000

Variable cost of goods sold 268,000

Fixed cost of goods sold 118,000

Total cost of goods sold = $386,000

Gross profit = $604,000 ($990,000 - $386,000)

Fixed selling and administrative costs 118,000

Variable selling and administrative costs 143,000

Total period costs = $261,000 ($118,000 + $143,000)

Net income = $343,000 ($604,000 - $261,000)

Thus, the gross profit of Hex Industries for May under the absorption costing method is $604,000.

Learn more about the absorption costing method at brainly.com/question/14609187

#SPJ1

4 0
2 years ago
Write the difference between right and responsibility​
Natali [406]

Answer:

I gotchu-

Explanation:

A responsibility is something you have to do or (at least) ought to do.

For example, it's the US Citizens responsibility to drive safely.

A right is something you are allowed to do or permitted to do. You have no obligation to exercise your right.

For example, it's the US Citizens right to vote during an election.

In conclusion, a responsibilty is something that the govt expects you to do, while a right is a privelege the govt gives you if you follow the laws.

P.S. To have rights, you must follow your responsibilities.

Hope this helped :)

4 0
3 years ago
Which of the following statements about job applications is false?
Ilia_Sergeevich [38]

Answer:

I would say it is A

Explanation:

i say this because everything is virtual now so therefore there are job applications online

5 0
3 years ago
Read 2 more answers
Bill Evans began Evans Distributors, a sporting goods distribution company, in January 20X1 and engaged in the transactions belo
mihalych1998 [28]

Answer:

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation $790

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges $39

Cr Sales Revenue $1,276

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

Jan. 17

Dr Equipment $230

Cr Cash $230

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

Cr Cash $2,630

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges $76

Cr Sales Revenue $2,444

Explanation:

Preparation of the Journal Entries

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

($55,750+$7,800)

(To record the amount invested into the business along with supplies)

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

(To record the purchase of merchandise inventory by cash)

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

(To record the sale of merchandise on account)

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

(To record the purchase of merchandise inventory on account)

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

(To record the payment of freight charges)

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

(To record the return of merchandise that was sold to Chu Corporation)

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation ($1,010 - $220) $790

(To record the collection of amount from credit sales)

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

(To record the payment made to credit purchases)

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

(To record the cash sales)

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges ($1,315*3/100) $39

Cr Sales Revenue $1,276

($1,315-$39)

(To record the sales made on credit card)

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

(To record the purchase of equipment on account)

Jan. 17

Dr Equipment $230

Cr Cash $230

(To record the payment of freight charges)

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

(To record the purchase of merchanise inventory on account)

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Cr Sales Revenue $3,380

(To record the sales made on account)

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

($2,480+$150)

(To record the purchase of inventory on account)

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

(To record the payment made to credit purchases)

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

(To record the amount received from credit sales)

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

($2,480+$150)

Cr Cash $2,630

(To record the payment made to credit purchases)

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

(To record the cash sales)

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges ($2,520*3/100) $76

Cr Sales Revenue $2,444

($2,520-$76)

(To record the sales made on credit card)

7 0
3 years ago
The higher the number of business units in a company's portfolio, the more difficult it is for corporate managers to remain info
Ira Lisetskai [31]

Answer:

True

Explanation:

When a  company increases the amount of business units it is harder to be informed about each business unit. When the manager try to understand and review all the information about the business units the time is not enough, in that case the sustainability of a multiple units business model is a challenge. When this happens, the manager can empower a business unit manager, so the corporate manager just needs to know the basic information and be informed about the decisions and results obtained evaluating the results of the business unit.

7 0
3 years ago
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