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Anon25 [30]
2 years ago
9

Rachel entered into a contract to purchase a 2004 Dodge from Hanna, who lived in the neighboring apartment. When a dispute arose

over the terms of the contract, Hanna argued that, because neither she nor Rachel was a merchant, the dispute should be decided under general principles of common law. Rachel, on the other hand, argued that Hanna was legally considered to be a merchant because she sold the car for profit and that, consequently, the sale was governed by the Uniform Commercial Code. Who is correct? Explain.
Business
1 answer:
Genrish500 [490]2 years ago
8 0

Answer:

Hanna is correct.

Explanation:

The sale of the 2004 Dodge cannot be construed to be a sale of goods under the Uniform Commercial Code since this law covers sales of goods by merchants.  Hanna cannot be said to be a merchant of 2004 Dodge as she is not known to be in the business for the purchase and sale of cars.  Therefore, the case should be adjudicated under the common law.  What has taken place in this instance is the exchange of a personal asset.  Hanna cannot make a trading profit from the sale, but a capital gain.  Rachel is not correct.

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Josh purchased 100 shares of XOM for $76.63 per share at the beginning of 2007. He received dividends per share of $1.37 (2007),
never [62]

Answer:

The IRR is 4.08%

Explanation:

In calculating the internal rate of return in excel,the cash outflow of $76.63 is shown in year 0 with a negative sign to indicate that it is the initial investment on the share, followed by dividends in received in later years shown as positive figures ,however in the fifth the dividend received and the cash received from disposing of the share were added together to show total cash inflow in the last year.

The computation of IRR is shown below

IRR for the share purchase  

 

Years Cash flow

0 -76.63

1 1.37

2 1.55

3 1.66

4 1.74

5 86.61  

IRR 4.08%

Find attached for detailed computation.

Download xlsx
4 0
3 years ago
Porter Incorporated issued $210,000 of 6 percent, 10-year, callable bonds on January 1, Year 1. The bonds were issued at their f
pshichka [43]

Answer:

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

Explanation:

Porter Incorporated Journal entries

Jan. 1

Dr Cash $210,000

Cr Bonds Payable $210,000

Dec. 31

Dr Loss on Bond Redemption $4,200

Bonds Payable $210,000

Cr Cash $214,200

(102%×$210,000=$214,200)

7 0
3 years ago
Discuss the three "ingredients" needed for employee performance. give your own brief example of a performance scenario where all
weqwewe [10]

The three ingredients needed for employee performance are motivation, capacity and support. Motivation is really important because if employees are influenced positively they can make things better. Capacity is also key because if employees are poorly prepared the won't have a good performance. Support is crucial because if we want to enhance employees' performance we have to be ready to back them up.

5 0
3 years ago
A machine originally had an estimated useful life of 6 years, but after 4 complete years, it was decided that the original estim
lianna [129]

Answer:

d. 6 years

Explanation:

Depreciation is the loss of value of an asset over a period of time. The asset has a useful life period after which it is referred to as scrap.

The value of the asset after it's useful life is called the salvage value.

Useful life of an asset is estimated and deductions in its value are made till the useful life is exhausted.

In this scenario the useful life was initially taken to be 6 years.

After 4 years it was realised a mistake wasade and useful life is supposed to be 10 years

Since useful life of the asset remains contstant, the remaining years of useful life is the real estimate of useful life less years already used.

Remaining useful life = 10 - 4 = 6 years

6 0
3 years ago
Use the drop-down menus to complete the statements. inflation is a measure of how prices . disinflation occurred . the inflation
Bingel [31]

Inflation, Disinflation, and Deflation are related economic terms, as inflation measures price increase, Disinflation is inflation at a slower rate,  and the inflation rate in 2014 was 1.5%

<h3>What are Inflation, Disinflation, and Deflation?</h3>

Inflation is the goods and services price increase, Disinflation is the same as inflation but at a slower pace, and Deflation is a decrease in the price of goods and services.

  1. Inflation is measured by an increase in prices
  2. Disinflation occurs when inflation occurs at a slower pace in the short run. it occurred between the years 2008 and 2009.
  3. The inflation rate in 2014 was about 1.5% in the United States.
  4. In 2009 there was a decline in inflation.

Therefore, the above option aptly describes inflation, Disinflation, and Deflation.

Learn more about Inflation, Disinflation, and Deflation here:

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8 0
2 years ago
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