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Eddi Din [679]
2 years ago
15

A property has a restriction dating back to the 1920s that limits the sale of the property to persons of a particular race. The

owner has entered into a purchase agreement with a buyer. The restriction is:
Business
1 answer:
Bezzdna [24]2 years ago
7 0

The restriction on the building to prevent sale to persons of a particular race means it is unenforcable but the sale can go through.

Restrictions like this are unconstitutional because it is promotes discrimination of some race.

  • Also, it is also unconstitutional to enforce a racially restrictive covenant although the existence does not prevent the conveyance going through.  

.

  • Hence, the restriction on the building to prevent sale to persons of a particular race means it is unenforcable but the sale can go through

Therefore, the Option C is correct.

Missing options includes <em>"A. valid and enforceable B. unenforceable so the contract is void C. unenforcable but the sale can go through D. enforceable if the buyer agrees"</em>

<em />

Read more about House agreement

<em>brainly.com/question/1860153</em>

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Mills Corporation acquired as a long-term investment $230 million of 8% bonds, dated July 1, on July 1, 2021. Company management
frosja888 [35]

Answer:

1) July 1, 2021, bonds purchased at a premium

Dr Investment in bonds 230,000,000

Dr Premium on bonds 30,000,000

    Cr Cash 260,000,000

Sine the price paid for the bonds was higher than the face value, they were purchased at a premium.

2) December 31, 2021, coupon payment received from investment in bonds

Dr Cash 9,200,000

    Cr Interest revenue 7,800,000

    Cr Premium on bonds 1,400,000

amortization of bond premium = (260,000,000 x 3%) - 9,200,000 = -1,400,000

3) investment in bonds balance = $260,000,000 - $1,400,000 = $258,600,000

4) January 2, 2022, bonds sold

Dr Cash 270,000,000

    Cr Investment in bonds 230,000,000

    Cr Premium on bonds 28,600,000

    Cr Gain on sale of investment 11,400,000

Gain on sale = selling price - carrying value of investment = $270,000,000 - $258,600,000

3 0
3 years ago
An investor deposits $2,000 per year (beginning today) for 10 years in a 4% interest bearing account. The last cash flow is rece
yKpoI14uk [10]

Answer:

$24,012.21

Explanation:

Calculation for What is the investor's future balance after 10 years

Using financial to find the FV which represent future value

N 10 years

I/Y 4%

PV 0

PMT $2,000 per year

FV ?

Hence:

FV = $24,012.21

Therefore the investor's future balance after 10 years will be $24,012.21

4 0
3 years ago
The income elasticity of demand for peanut butter is 0.1. From this, we know that peanut butter is a(n) __________ because _____
musickatia [10]

Answer:

Option B:

inferior good; elasticity is negative

Explanation:

The income elasticity of demand is a measure of the rate at which a particular commodity is demanded, even after there is a change in the real income of the consumers.

It is a known fact that for inferior goods, once the real income of the consumers increases there is a higher tendency for them to switch to other premium commodities. Such goods are said to have a negative elasticity.

The income elasticity of demand can be calculated with this formula

percentage change in quantity demanded / percentage change in income.

If this gives a value that is less than 1, it means that the percentage change in the quantity of goods demanded is actually less than the percentage change in the income level of the consumers. Hence, the good is an inferior good. This is because when the consumers are earning more, they buy less of the product.

6 0
3 years ago
Yoshi operates a shoe store as a sole proprietorship. However, he is in poor health and may be unable to continue running the bu
Shalnov [3]

Answer:

A. ceases to exist unless sold or taken over by Yoshi's heirs. 

Explanation:

A sole proprietorship is a from of business which is owned by one person. The owner is usually the decision maker.

One of the disadvantages of sole proprietorship is lack of continuity. The business usually ends when the owner dies. Although , family members can take over running the business.

I hope my answer helps you.

6 0
3 years ago
A company issues $60,000 of 6%, 5-year bonds dated January 1 that pay interest semiannually on June 30 and December 31 each year
bekas [8.4K]

Answer:

Decrease, $2,000

Explanation:

The premium on bonds payable will <u>decrease </u>total interest expense recognized over the life of the bond by <u>$2,000</u>. The difference between the face value & the issue value $2,000 ($62,000 - $60,000) should be amortize over a period of time and of which is reduced from interest expense.

6 0
3 years ago
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