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Lostsunrise [7]
3 years ago
14

[Disappointing Boat Purchase] Ava went to purchase a new boat. She wanted a boat she could use in a nearby lake and also take to

the coast for use in ocean waters. Ava saw a boat she liked in the showroom. She showed the boat to Brock, the sales representative at the dealership, and stated that she wanted a boat for both lake usage and ocean usage. Brock told her that the dealership had the best boats in the state, that the engine was great in the boat she liked, and that she would have no problem with steering or with the carburetor. He said nothing about whether or not the boat was an appropriate vessel for ocean waters. Ava purchased the boat. She immediately began to have significant problems with it. The engine did not perform adequately, and there were problems with the steering and carburetor. Additionally, Ava attempted to take the boat onto ocean waters and had significant difficulty. She later discovered that it was not an ocean-going vessel. It was only appropriate for lake usage. Which of the following is true concerning Brock's statement that the boats at the dealership were the best in the state?
Business
1 answer:
LekaFEV [45]3 years ago
8 0

Answer:

Implied warrenty

Explanation:

The sale itself constituted an implied warranty of merchantability but not an express warranty or a warranty of fitness for a particular purpose.

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Agee Storage issued 33 million shares of its $1 par common stock at $21 per share several years ago. Last year, for the first ti
Tpy6a [65]

Answer:

$23 million

Explanation:

Calculation to determine at what amount will Agee’s total paid-in capital decline

First step is to calculate the Cash paid for the first repurchase

Cash paid for the first repurchase = 1 million * 19

Cash paid for the first repurchase = $19 million

Second step is to calculate the Value of first purchase

Value of first purchase = 1 million * 21

Value of first purchase = $21 million

Third step is to calculate the Benefit on first repurchase

Benefit on first repurchase = 21 million - 19 million

Benefit on first repurchase = $2 million

Fourth step is to calculate Cash paid for second repurchase

Cash paid for second repurchase = 1 million * 24

Cash paid for second repurchase = $24 million

Fifth step is to calculate the Value of second purchase = Reacquired shares * Common stock price

Value of second purchase = 1 million * 21

Value of second purchase = $21 million

Last step is to calculate the Decline in total paid-in capital using this formula

Decline in total paid-in capital= Benefit on first repurchase + Value of second purchase

Decline in total paid-in capital = 2 million + 21 million

Decline in total paid-in capital = $23 million

Therefore what amount will Agee’s total paid-in capital decline is $23 million

8 0
2 years ago
A well-written job description should:
Yakvenalex [24]
C. clearly outline the job's responsibilities.
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6 0
3 years ago
Monty Company expects to have a cash balance of $58,410 on January 1,
hodyreva [135]

Answer:

The ending cash balance of Jan is $ 68145 which is more than $58,410 . We get this balance after the borrowings. The cash balance is $   18172 for February .

Explanation:

<em>Monty Company </em>

<em>Cash Budget</em>

<em>                                            January         February</em>

Beginning Cash Balance        58410           35695

Add Receipts    

Collections from Customers 110330           194700

Sale of Marketable Securities 15576             0

Total Receipts                         125906          194700

Total available Cash               184316           230395

Less Disbursements

Direct Materials                   $64,900,         $97,350

Direct labor:                         $38,940,        $58,410

Manufacturing overhead:    $27,258,        $32,450

Depreciation                            ($1,947)      ( $1,947)  

Selling and

Administrative expenses:       $19,470,    $25,960.    

Total Disbursements              148,621       212,223  

Excess                                       35,695        18172

Financing

Add Borrowings                       $32,450         0

Less Repayments                       0                  0

Ending Cash Balance              68145           18172

Receipts are added to the cash balance to get the total available cash .

Total cash disbursements are subtracted from the total available cash to find the excess amount from which the repayments are subtracted and borrowings are added to get the ending cash balance.

8 0
3 years ago
Freddie's auto service stations were fined for failure to provide the services billed and other things. after being fined, fredd
puteri [66]
It is known as the Total Quality Management or TQM. It is the nonstop procedure of lessening or dispensing with blunders in assembling, streamlining inventory network administration, enhancing the client encounter, and guaranteeing that workers are doing speed with their preparation. Add up to quality administration means to hold all gatherings associated with the generation procedure responsible for the general nature of the last item or administration.
5 0
3 years ago
Michael Company reports the following account balances at the end of the first year of​ operations: Revenues $ 160 comma 000 Cos
professor190 [17]

Answer:

$46,000

Explanation:

The computation of the total liabilities at the end of the first​ year is shown below:

We know that

Total assets = Total liabilities + stockholder equity

where,

Total assets = Cash + land + short term investment

                    = $102,000 + $40,000 + $14,000

                    = $156,000

Stockholder equity = Common stock + net income - dividend paid

                                = $50,000 + 72,000 - $12,000

                                = $110,000

So, the total liabilities would be

= $156,000 - $110,000

= $46,000

Working Note:

The net income is

= Revenue - cost of goods sold - Salaries Expense -  Utilities Expense - Advertising Expense ​

= $160,000 - $46,000 - $21,000 - $11,000 - $10,000

= $72,000

3 0
3 years ago
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