Answer:
This is an example of <u>"arbitration".</u>
Explanation:
When someone resolve the disputes outside the court, and that person is the third party who is solving the dispute of two parties, this process is known as arbitration. As in the given scenario Dr, hamrick is hired to resolve the disputes of the employees of the company, so this is the example of the process of arbitration.
Answer:
True
Explanation:
Contracts should be in writing because this guarantees that all the terms of the agreement are documented and the responsabilities of each party are stated. Also, contracts that involve the sale of goods with a value higher than $500 have to be in writing to be enforceable. So, according to this and considering that the total cost of the lighting is $5,000, it is true that the contract needs to be in writing.
Answer:
The amount of income that David will report this year if he elects to amortize the bond premium is $455.94.
Explanation:
This can be calculated as follows:
Interest income = Carrying value of the bond * Yield to maturity…………….. (1)
Where;
Carrying value of the bond = $13,410
Yield to maturity = 3.4%
Substituting the values into equation (1), we have:
Interest income = $13,410 * 3.4% = $455.94
Therefore, the amount of income that David will report this year if he elects to amortize the bond premium is $455.94.
Answer: Increase of $8,200
Explanation:
Currently, the company is making a net operating income of;
= Contribution Margin - Fixed expenses
= (90 * 6,700) - 547,700
= $55,300
If the company advertises, net operating income becomes;
= Contribution margin with increase in sales - Fixed expenses including advertisements
= (90 * (6,700 + 170)) - (547,700 + 7,100)
= $63,500
Increase in operating income = 63,500 - 55,300
= $8,200
Answer:
The amount of gain that Red Blossom recognize in the exchange is $322500 and its basis in the land it receives is $635000.
Explanation:
Red Blossom recognize the gain
= Fair market value of land – corporation basis
= $635000 - $312500
= $322500
Basis of Land = Fair market value
= $635000
$322500 gain recognized and a basis in the land of $635000
Therefore, The amount of gain that Red Blossom recognize in the exchange is $322500 and its basis in the land it receives is $635000.