Answer:
A promise to deliver a deed
Explanation:
The term, 'strict performance' is used to describe a contract between two parties. A contract is an agreement between two parties, and it is legally binding. When discharging contracts involving services, 'substantial performance' is required. For example, if I tell a painter to paint my house blue except for the kitchen and storeroom which should be painted white, and he does accordingly but failed in painting the kitchen white, he has performed substantially even though there was a minor breach. The consequences of which would be borne by him.
'Strict performance' is required in contracts where the terms are stated in express terms and the standards are very high. A 'deed' is such a contract because it is a document specifying the legal rights of a person or the ownership of a property. It requires the signatures of the two parties. Therefore, strict performance and adherence to the contractual deed are required.
Answer:
$5
Explanation:
Earnings per share is the total profit earned by a firm divided by the number of outstanding shares
Earnings per share = earnings / total outstanding shares
$500,000 / 100,000 = $5
COMPLETE QUESTION:
Sarah’s Muffler Shop has one standard muffler that fits a large variety of cars. Sarah wishes to establish a reorder point system to manage inventory of this standard muffler. Use the following information to determine the best order size:
(The attachment contains the information)
Answer: 216 mufflers is the best order size.
Explanation:
The attachment contains the calculations and information.
Answer:
The earnings will increase by $20,000
Explanation:
This is because none of the five classification criteria is met, this is an operating lease. Accordingly, Lakeside will record lease revenue for each of the four $30,000 payments, increasing its earningsby $120,000 each year. In addition Lakeside, as owner of the asset, will record depreciation. Assuming straight-line depreciation of the $2.5 million cost over the 25-year life, that’s $100,000depreciation expense each year. So, earnings are increased by a net $20,000 ($120,000 − $100,000).