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PSYCHO15rus [73]
3 years ago
6

Beth, acting within the scope of her authority for the Cake Bake Shop, contracts with Eden Valley Orchards to buy an assortment

of fruit. Cake Bake is liable on the contract, and Beth is not, if Cake Bake is​
Business
1 answer:
iogann1982 [59]3 years ago
8 0

disclosed principal

Explanation:

According to my research on contractual liabilities, we can say that Cake bake is liable on the contract and Beth is not, if Cake Bake is a disclosed principal. This means that contractually, Beth is acting on behalf of Cake Bake therefore Cake Bake is liable (responsible) for all decisions made by Beth during work hours.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Lawsuits related to performance management usually involve charges of discrimination or:____.
7nadin3 [17]

Lawsuits related to performance management usually involve charges of discrimination or<u> unjust dismissal</u>.

Discrimination is the unfair discrimination of people based on the group, class, or other categories to which they belong or are perceived to belong. People may be discriminated against based on race, gender, age, religion, disability, sexual orientation, or other categories.

Discrimination is particularly the discriminatory treatment of individuals or groups over other privileges available to members of another group because of their actual or perceived affiliation with a particular group or social category. are treated unfairly and poorly.

Learn more about Discrimination here: brainly.com/question/1084594

#SPJ4

3 0
2 years ago
uction Services started the year with total assets of and total liabilities of . The revenues and the expenses for the year amou
VARVARA [1.3K]

Answer: $20,000

Explanation:

Net Income is the amount from revenue that the company made over expenses. It is therefore;

= Revenue - Expenses

= 110,000 - 90,000

= $20,000

<em>Note: Dividends are not considered in the calculation of Net Income as they are not expenses. </em>

8 0
3 years ago
On May 1, 2017, ABC Company signed a contract to provide 1 year of marketing research services to Anderson Company starting on M
Anna71 [15]

Answer:

Debit          Cash Account                              $12,000

Credit         Unearned Revenues Account    $12,000

Being advance payment for marketing research services by Anderson

Explanation:

Revenue received before it is earned are reported as liability until it is earned, this is consistent with  accrual basis of accounting. when payment for service not yet performed or goods not yet delivered is received, such a payment must not recognized in the period of payment but in the period when that service is preformed or when the goods are delivered.  

The treatment for advance payment of income is a debit to cash or bank and a credit to unearned revenues account or income received in advance account.

6 0
3 years ago
g On January 2, 2010, Howdy Doody Corporation purchased 12% of Ranger Corporation's common stock for $50,000 and classified the
Aliun [14]

Answer:

$7,200

Explanation:

The calculation of income that should be presented in the income statement is shown below:-

Dividend Received = Given percentage × Paid dividend

= 12% × $60,000

= $7,200

Therefore for computing the income that should be presented in the income statement we simply applied the above formula.

Therefore the above is the answer

8 0
3 years ago
Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage
WARRIOR [948]

Answer:

1) assets basis:

land = $1,221,151

equipment = $462,000

furniture and fixtures = $308,000

parking lots and landscaping = $370,000

building = $11,241,600

2) interest expense:

interest on notes payable issued to buy land = $52,812

interest expense on other notes payable = $479,733

total = $532,545

Explanation:

the basis of the land (not depreciable):

  • $370,000 paid in cash
  • PV of notes payable = $770,000 / 1.08² = $660,151
  • closing costs = $37,000
  • demolition of existing structures = $87,000
  • land clearing and grading = $67,000
  • total = $1,221,151

Demolition costs as well as land grading and clearing add to the basis of the land, they are not included as part of construction costs. Therefore, they cannot be capitalized and added to the building's basis. The land is one asset and the building is a separate one, you cannot mix them. Only construction costs incurred when building the building (I don't know how else to say it) can be considered as accumulated expenditures for interest capitalization. The same applies to land improvements, they cannot be included in the construction's accumulated expenditures, they are separate assets.

interest expense on notes payable = $660,151 x 8% = $52,812

basis of equipment, furniture and fixtures (depreciable assets):

  • equipment = ($522 / $870) x $770,000 = $462,000
  • furniture and fixtures = ($348 / $870) x $770,000 = $308,000

parking lots and landscaping (depreciable land improvements):

  • $370,000

total building construction expense during 2021:

  • May 1 : $3,750,000
  • July 30:  $2,350.000
  • September 1:  $1,920,000
  • October 1 : $2,820.000
  • total = $10,840,000

weighted construction expenditures 2021:

  • May 1 : $3,750,000  x 8/12 = $2,500,000
  • July 30:  $2,350.000  x 6/12 = $1,175,000
  • September 1:  $1,920,000  x 4/12 = $640,000
  • October 1 : $2,820.000 x 3/12 = $705,000
  • total = $5,020,000

capitalized interests = $5,020,000 x 8% = $401,600

basis of building:

  • total construction expenses = $10,840,000
  • capitalized interests = $401,600
  • total = $11,241,600

interest expense on other notes payable = ($6,100,000 x 8% x 8/12) + ($6,950,000 x 8%) - $401,600 = $479,733.33 ≈ $479,733

     

6 0
2 years ago
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