1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andrew [12]
3 years ago
6

Iona wrote her will. The following year, she wrote another will that expressly revoked the earlier will.Later, while cleaning ho

use, she came across the second will. She mistakenly thought that it was the first will and tore it up because the first will had been revoked. Iona died shortly thereafter.The beneficiaries named in the second will claimed that the second will should be probated.The beneficiaries named in the first will claimed that the second will had been revoked when it was torn up. Had the second will been revoked?
Business
1 answer:
snow_lady [41]3 years ago
4 0

Answer and Explanation:

In the given case, the second will would be destroyed non-intentionally by the testatrix that represent the person who writes the will. Also the second will would have be intended to revoke the first will

In addition to this, Testatrix intends the second will to be value also at the same time she dont want the first will to be probated

So the second will would be upheld because of testamentary motive.

You might be interested in
Marigold Corp. enters into a contract with a customer to build an apartment building for $1,069,900. The customer hopes to rent
muminat

Answer:

$1,193,562

Explanation:

Calculation to Determine the transaction price for this contract.

First step is to calculate the probabilities

Probabilities

August 1, 2021 =70 % *$153,300

August 1, 2021 =$107,310

August 8, 2021= 20%*$51,100

August 8, 2021= $10,220

August 15, 2021 =6%*$102,200

($153,300-$51,100)

August 15, 2021 =$6,132

After August 15, 2021= 4%*$0

After August 15, 2021= $0

Now let calculate the transaction price for this contract.

Total transaction price =$1,069,900+ $107,310+$10,220+$6,132+$0

Total transaction price =$1,193,562

Therefore the transaction price for this contract will be $1,193,562

4 0
3 years ago
Inventory Valuation under Absorption Costing Amiens Company produced 20,000 units during its first year of operations and sold 1
katen-ka-za [31]

Answer:

Required 1

Direct Materials Cost = $4.00

Direct Labor Cost = $5.07

Variable Overhead Cost = $0.78

Fixed Overhead Cost = $2.73

Required 2

Unit Cost =  $12.58

Required 3

Units in Ending Inventory = 1,100

Required 4

Cost of ending inventory  = $13,838

Explanation:

Unit Cost Calculations :

Direct materials = $ 80,000  ÷ 20,000 units

                          = $4.00

Direct labor = $101,400 ÷ 20,000 units

                   = $5.07

Variable overhead = $15,600 ÷ 20,000 units

                               = $0.78

Fixed overhead = $54,600 ÷ 20,000 units

                           = $2.73

Unit Cost (Absorption Costing) = All Manufacturing Costs

                                                   = $4.00 + $5.07 + $0.78 + $2.73

                                                   = $12.58

Units in Ending Inventory = Opening Inventory Units + Production - Sales

                                          = 0 + 20,000 units - 18,900 units

                                          = 1,100

Cost of ending inventory  = Unit Cost × Units in Ending Inventory

                                           = $12.58 × 1,100

                                           = $13,838

5 0
3 years ago
A company had the following purchases and sales during its first year of operations: Purchases Sales January: 10 units at $120 6
Thepotemich [5.8K]

Answer:

Ending Inventory $ 3540

Explanation:

FIFO means first in first out. This rule applies to counting of the inventory in such a way that the units first purchased are sold out first. The following schedule has been prepared to arrive at the ending inventory at each date of sale .

Purchases                                   Sales                  Ending Inventory

January: 10 units at $120            6 units              4 units at $120

February: 20 units at $125         5 units                19 units at $125

May: 15 units at $130                   9 units               10  units at $125

                                                                               15  units at $130    

September: 12 units at $135       8 units              2  units at $125

                                                                            15  units at $130

                                                                             12 units at $135

November: 10 units at $140       13 units             4 units at $130

                                                                             12 units at $135

                                                                            10 units at $140

On December 31, there were 26 units remaining in ending inventory

Ending Inventory = $ 3540= $ 520 + $1620 + $1400

4 units at $130 = $ 520

12 units at $135 = $ 1620

 10 units at $140= $ 1400

6 0
3 years ago
your cash T-account has a debit of $1,200. The following entries are made to cash T-account: debit $345, debit $43, credit $123.
IRINA_888 [86]

starting with a balance of $1200,

debit -345:  1200 - 345 = 855

debit -43:  855 - 43 = 812

credit +123:  812 + 123 = 935

New balance is $935

3 0
4 years ago
The fact that people are willing to save money for future purposes describes which function of money _____.
SOVA2 [1]
<span>The fact that people are willing to save money for future purposes describes the function of money as a store of value. Money is generally accepted as a form of payment for any transaction. This makes it possible for people to measure value of services or a goods easily by expressing their value in form of money make it possible for us to account for anything (good and services) in our books of record. This characteristic of money gives it value and ability to be saved or stored as a liquid asset for meeting any emergencies, debts or future buying opportunities for good and services among other needs. Hence, Money can therefore act as a medium for storage of value.</span>
7 0
3 years ago
Other questions:
  • What term refers to the continuous process by which an individual changes during life?
    12·1 answer
  • As a manager, jermaine, defines goals, set performance objectives, and identify action steps for accomplishing them. jermaine is
    15·1 answer
  • Rinker Audio Products wants to adopt the total quality management (TQM) philosophy as developed by, among others, W. Edwards Dem
    12·1 answer
  • In spring 2012, Mainline Engineering Company signed an $80 million contract with the city of Duluth, to construct a new city hal
    13·1 answer
  • You believe you will need to have saved $590,000 by the time you retire in 30 years in order to live comfortably. If the interes
    7·2 answers
  • Mario explains the concept of “food deserts” in his paper. He wants to make sure he used the phrase correctly, so he decides to
    12·2 answers
  • Noneconomic groups, such as Texans for Public Justice and other groups working in the public interest, tend to be less powerful
    8·1 answer
  • Suppose you sold three September cocoa futures contracts at a price quote of 1,696. Cocoa futures contracts are based on 10 metr
    11·1 answer
  • On November 1, Year One, a company is paid $12,000 in advance to do a job for a customer. The job has ten separate steps. The fi
    10·1 answer
  • g When a monopolistically competitive industry is in long-run equilibrium: Multiple Choice price equals marginal cost. firms ear
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!