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Semenov [28]
2 years ago
7

Kim hired Gold Contracting to build a pool and a fancy gazebo in her backyard. The plans were complex and required expert workma

nship. After the work was completed, Kim was so pleased that she promised to pay Gold an additional $3,500 performance bonus. Later, when Gold demanded the bonus, Kim refused to pay it. If Gold sues Kim for the money, what will probably happen?
A. Gold will win, because the bonus was adequate consideration and served to entice Gold to do an outstanding job.
B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.
C. Gold will win, because the bonus is for work they have already performed.
D. Kim will win, because the bonus agreement was not in writing.
Business
1 answer:
Rufina [12.5K]2 years ago
5 0

Answer:

B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.

Explanation:

In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.

Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.

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Please find attached Balance sheet.

Explanation:

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You are hired as a consultant for a local restaurant. It is considering whether to close at​ 9:00 p.m., stay open an extra hour​
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Answer:

$40

Explanation:

Profit made is the difference between revenue earned and cost incurred by an entity.

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8 0
3 years ago
1. All of the following would be classified as manufacturing overhead except the: A) wages of supervisor of the machining shop.
jek_recluse [69]

Answer:

D) All of the above would be classified as manufacturing overhead.

Explanation:

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8 0
3 years ago
Lowell Corporation paid $80,000 to acquire all of Boston Company's net assets. Boston reported assets with a book value of $60,0
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Answer:

Lowell Corporation

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Explanation:

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Fair value of liabilities  23,000

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b) Acquired Goodwill is the difference between the cost of purchasing Boston Company ($80,000) and the net identifiable assets of Boston Company ($75,000).  The net identifiable assets are calculated by subtracting the fair value of the liabilities from the fair value of the assets.

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3 years ago
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