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soldi70 [24.7K]
3 years ago
13

Rayco Ski Shop purchased 500 pairs of skis from Skitron. Rayco is located in Colorado. Skitron's business is in Tennessee. The p

urchase order included the following term: "F.O.B. Colorado." The contract makes no mention of risk of loss or title. The contract can be described as a:
Business
1 answer:
Oduvanchick [21]3 years ago
4 0

Answer: Destination contract

Explanation: The contract is described as a destination contract. A destination contract is one in which the risk of loss is on the seller until completion of his delivery obligations under the destination contract. Should the goods be destroyed or damaged while in transit, the seller bears the risk of loss. However, the seller is no longer liable after the goods have been safely delivered at the buyer's destination. Common ways to spot a destination contract include: a) FOB (Free on Board): when delivery term in the contract states "F.O.B Colorado". b) Ex Ship c) No arrival, no sale...

The transactions in a destination contract is governed by the Uniform Commercial Code (UCC).

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Journal entry for purchased goods from ABC Co. for Rs. 11,000.​
vladimir1956 [14]

Answer:

purchase A/c. Dr. Rs.11,000

To ABC CO.A/c. Rs.11,000

(being goods purchased in cash)

3 0
2 years ago
Is Self-assessment Income tax or Consumer tax?​
nika2105 [10]

Answer:

I think it's a income tax

4 0
4 years ago
Before introducing a new piece of software, star software inc. Conducts benchmark activities to assess how popular the product w
lesantik [10]

Assessing the current state of affairs is done during this stage of the strategic management process.

Every assessment project is tailored to your unique requirements. Projects typically involve gathering and analyzing data from a variety of sources, and they usually end with a presentation and/or written report that highlights the main conclusions and suggestions. A team from the church or ministry may occasionally help with data collection. The evaluation might consist of:

  1. From the church or ministry's statistics
  2. external data, like local demographics
  3. additional analysis of certain data
  4. interviews with important figures
  5. Focus sessions
  6. online poll to gather more opinions

Learn ore about assessing brainly.com/question/13449965

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5 0
1 year ago
A company is evaluating a new 4-year project. The equipment necessary for the project will cost $3,050,000 and can be sold for $
Rainbow [258]

Answer:

$718,606.4

Explanation:

The first step is to calculate the accumulated depreciation

=$3,050,000×(0.2+0.32+0.192+0.1152)

= $3,050,000×0.8272

= $2,522,960

The accumulated depreciation is then subtracted from the book value in purchase to get the book value on sale

= $3,050,000-$2,522,960

= $527,040

The next step is to subtract the book value on sale from the salvage value

= $527,040-$670,000

= -$142,960

Loss of - $142,960

The tax gain on disposal can be calculated as follows

= -$142,960×34/100

= -$142,960×0.34

= -$48,606.4

Therefore, the after-tax salvage value can be calculated as follows

= salvage value-tax disposal

= $670,000-(-48,606.4)

= $670,000+$48,606.4

= $718,606.4

Hence the aftertax salvage value of the equipment is $718,606.4

5 0
3 years ago
Consider the equilibrium condition for the asset market    StartFraction Upper M Over Upper P EndFraction equals Upper L (Upper
Sophie [7]

Answer:

a. A decrease in expectations with no change in output, real interest rate or the money supply will result in a decrease in the price level. This is because inflation expectation is directly related to the price level. A anticipated decrease in inflation in the future means that suppliers will reduce their prices as they want more of the product to be sold. With a decrease in inflation (in the future), the prices in the future are expected to fall further.

b. An increase in the nominal money supply, with no change in output, real interest rate or inflation expectations will result in an increase in the price level. Mathematically, this can be explained by RHS=LHS in the equation above. If everything on the right hand side (RHS) remains constant, it means the left hand side (LHS) = M/P must also remain constant, that is, an increase in M would lead to an increase in P so that the ration M/P does not change. An economic explanation of the same is that with an increase in money supply ceterus paribus, people would be willing to pay more as their income would increase.

6 0
3 years ago
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