This can indicate fraud, duress, or undue influence.
In contracts, "consideration" is the things of value each side gives up in an exchange. So if one side gives $1 for a cup of coffee, that might be ok. Now, consider if the contract was to sell your entire house for $1! That would be a shockingly inadequate exchange because even the cheapest home is worth way more than $1.
In that case, the judge might look at <em><u>why</u></em> someone would be willing to give up so much for so little. Were they falsely told there home was worth nothing or maybe told that they would get $1 upfront and more later? That would be <u>fraud</u>. Were they told to sign the contract with a gun pointed at their head? That is an example of <u>duress</u>. Finally, did the person helping them with the contract have undue influence? If your boss, parent, or favorite celebrity advises you to do something that you don't want to do, but you worry about what they will thing if you don't, then you were a victim of their <u>undue influence. </u>
The kind of people who are in witness protection program are those whose lives are in danger because of the evidence they gave as witnesses in a court of law. The program was created in 1971 to protect those who are in danger of been killed as a result of been a witness in a court case.
Answer:
Particulars Amount
Net sales $29,865
Cost of goods sold <u>$17,820</u>
Gross profit $12,045
Selling, gen & admin exp. $1,710 (1,500+210)
Operating Expenses <u>$1,700</u>
Operating Income $15,455
Interest Expenses ($1,400)
Interest Revenue <u>$160 </u>
Income before tax $14,215
Income tax expenses <u>$2,630</u>
Net Income <u>$11,585</u>
Answer:
a. $179000
Explanation:
The computation of the cash provided by operating activities is shown below:
Net Income $2,10,000
Add : Depreciation expense $27,000
Add : Loss on sale of equipment $2,000
Add : Decrese in prepaid expenses $5,000
Less : Decrease in accounts payable $6,000
Less : Increse in accounts receivable $17,000
Less :Increase in inventory $42,000
Cash provided by operating activities $179,000
Fixed deposit account. Savings account.
