Castle borrowed $5,000 from Nelson and executed and delivered to Nelson a promissory note for $5,000 due on April 30. On April 1 Castle offered, and Nelson accepted, $4,000 in full satisfaction of the note. On May 15 Nelson demanded that Castle pay the $1,000 balance on the note. Castle refused. If Nelson sued for the $1,00 balance Castle would Win because the acceptance by Nelson of the $5,000 constituted an accord and satisfaction.
An example of balance is walking on a tightrope. An example of balance is when a person divides their time evenly between work, family, and personal enjoyment. A balanced example is someone who doesn't get too upset and isn't bothered by small things.
1: Stable Posture or Position The gymnast was in balance. 2: a little left: rest He has used up the rest of his pocket money. 3: Instruments for weighing. 4: A state of balance between work and pleasure. 5: Amount in a bank account.
Learn more about balance here
https://brainly.in/question/2078769
#SPJ4
Answer:
B) Neither Mitchell nor Powell has any recognized gain or loss.
Explanation:
Section 351 (a) of the IRS code establishes that when:
- property is transferred to a corporation by a shareholder solely in exchange for stocks of the corporation,
- and the person (or people) that transferred the property take immediate control of the corporation,
no gain or loss can be recognized from that transaction.
Answer:
16
Explanation:
The formula to compute the price earning ratio is shown below:
Price-earnings ratio = (Market price per share) ÷ (Earning per share)
where,
Earning per share is $1.50
And, the market price per share is
= Cash flow per share × price/cash flow ratio
= $3 × 8
= $24
Now placing this value to the formula above
So, the price earning ratio is
= $24 ÷ $1.50
= 16