Alice promised to give you a car if Mark will pass the CPA board examination. When Mark passed the said examination, Alice refused to give the car on the ground that the condition was a purely potestative one. Is Alice correct or not?
Q: In the statement of cash flows using indirect method, depreciation is treated as an adjustment to re...
A: Depreciation expense represents the cost of tangible asset allocated over the useful life of asset. ...
Q: direct professional labor hours were estimated to be 15.000 and dire Media incurred actual overhead ...
A: Lets understand the basics. For solving this question first we need to calculate predetermine overhe...
Q: Venus Creations sells window treatments (shades, blinds, and awnings) to both commercial and residen...
A: Calculation of total use of cost drivers : Activity Cost Driver Commercial Residential Total ...
Q: 2)Sarah began her credit card billing cycle with a zero balance, and her billing date is March 20. S...
A: Answer: We have Sarah made purchase value of March 21 = $4600 Due date = 15 April Rate of interest =...
Q: The following information is related to ABC Corporation, which is undergoing liquidation: Bonds paya...
A: Total Assets Assets P480,000 Less: Prepaid Assets P7,600 Less: Goodwill P22,000 Add: Asset...
Q: rm in a remote area of Texas at a cost of $10 million. Bit Cat is legally required to dismantle and ...
A: Pv factor @ 8% for 10th year is 0.463193.
Q: Prepare a statement of stockholders' equity for the year ended December 31, 20Y9. If an amount box d...
A: Treasury Stock - Treasury stock is the own shares purchased by the corporation. It shows as the nega...
Q: AA Corporation shows a cash balance of P1,570,000 as of December 31, 2022. The following cash transa...
A: Cash balances between bank book and local ledger can vary due to many aberrations and deferrals betw...
Q: A. The firm normally maintains no deposit balances at Bank Lucas (Format: 11.11%) B. The firm normal...
A: Jasos industries Line of Credit with Bank at Bank Lucas $ 8,00,000.00 Term ...
Q: Luckin went public in the U.S. in May 2019, listed in NASDQA and raising $561 million. Its success d...
A: ANSWER Luckin went public in the U.S. in May 2019, listed in NASDQA and raising $561million. Its s...
Q: Need explanation for the answer
A:
Q: Under the accrual basis, Operating Expenses to be reported by Lady G for the year 2021 amounts
A:
Q: Miller Corp. purchased a new machine for its factory. The following lists shows the various expendit...
A: Note: Insurance costs incurred for the transit to the destination is only capitalized to the assets....
Q: The business type of this company is food services industry. Give me an interpretation for 1. Age...
A: Lets understand the ratios. Age of inventory ratio indicates the days it takes to sell the inventory...
Q: ADDITIONAL FUNDS NEEDED Morrissey Technologies Inc.’s 2016 financial statements areshown here. Suppo...
A: a)
Q: Slow Running Shoes uses the Aging of receivables method to account for uncollectible accounts. The ...
A: Introduction:- The act of recording or keeping track of any financial or non-financial action is ref...
Q: Listed below are the transactions that affected the shareholders’ equity of Branch-Rickie Corporatio...
A: Journal entries are used to hold track of financial transactions. You enter transaction data into yo...
Q: If Jim is a real estate professional: 2014 ___________ 2015 ...
A: Jim- Purchase Purchase of real estate property in 2014 Net in Loss in 2014 -...
Q: On October 31 2022. BB Company discounted at the bank a customer's P600,000 interest-bearing note, 6...
A: Maturity value of the Note = Face value of the Note + Interest on the note where, Interest on the no...
Q: 7. Accounting policies disclosed in the notes to financial statements typically include all of the f...
A: Solution Concept While preparing the financial statements the policies used in the preparation of th...
Q: Victory Manufacturing Company produces a variety of products. The firm operates 24 hours per day wit...
A: To calculate total payroll hourly rate is multiplied by hours worked.
Q: Fast Deliverles, Incorporated (FDI), was organized In December last year and had limited activity la...
A: 1. Ledgers - Ledgers are the T-Accounts that are prepared for the individual accounts. After recordi...
Q: What is the course of action (s) can be used to prevent fraudulent financial reporting in stock mark...
A: Fraudulent financial reporting Reckless conduct, acts, or omissions, or Intentional misrepresentati...
Q: Morrissey Technologies Inc.’s 2015 financial statements are shown here. Suppose that in 2016, sales ...
A: Pro-forma Balance Sheet- A pro-forma balance sheet is a tabulation of upcoming projections and can h...
Q: The 1-year and 2-year zero rates are 4% and 6% per annum with quarterly compounding. (a) What is t...
A: The formula for converting discrete compounding into continuous compounding is given below:- Rc = m....
Q: he business type of this company is food services industry. Give me an analyzation or interpretatio...
A: Finished goods turnover is obtained by dividing cost of goods sold by the average amount of finished...
Q: ABC Company uses standard costing for each specialized product. The following information is availa...
A: Labor efficiency variance = (Actual hours worked - Standard hours allowed) x Standard rate per hour
Q: Answer with example
A: CVP analysis is a relationship between Cost Volume and Profit. This relationship shows the relations...
Q: Adequate disclosure in financial statements to meet the needs and purposes of their users is a means...
A: Financial statements are the reports that are to be prepared by the entity in order to disclose its ...
Q: On accepting the position of Chief Executive Officer and Chairman of Cameron Machinery, John Jacob c...
A: Weekly payroll = $10 million Annual payroll = $10 million x 52 weeks = $520 million Cost of short-te...
Q: For the current year, Power Cords Corp. expected to sell 40,700 industrial power cords. Fixed costs ...
A: The amount of revenue that can be lost before a company has reached its breakeven point is referred ...
Q: Data for Barry Computer Co. and its industry averages follow.a. Calculate the indicated ratios for B...
A: Introduction:- Ratio analysis is a statistical method that examines financial documents such as the ...
Q: On January 1, there were two jobs in process at Worship Printing Company. Details of the jobs are: J...
A: Cost of job completed in January = cost of job A-15 and cost of job A-38
Q: Riverbed Corporation is authorized to issue common and $3 convertible preferred shares. Each preferr...
A: Introduction Some times A Corporation may issue convertible preferred shares, that can be converted ...
Q: lph Nurseries purchased seeds costing $25,00 with terms of 3/15 net 30 EOM on January 12. Show Solut...
A: solution Concept Meaning of 3/15 net 30 EOM 3% discount is given if the amount is paid wit...
Q: & dilfferential analysis report for the make-or-buy decision, considering the differential revenues ...
A: Cost increase from purchasing outside layout services : = Total differential costs - Total Cost to p...
Q: 22. SONA Co. received an order for 1,000 units of item AY-14. Because of the order’s exacting speci...
A: Effective cost per unit is calculated for measuring the actual cost incurred for the production of e...
Q: Webb Company uses a job-order costing system and the following information is available from its rec...
A: Solution: Prime cost is the total direct costs of production, including direct materials and labor. ...
Q: 6. Before closing the books for a fiscal period, you should print a. reports that provide sufficient...
A: * As per bartleby policy, in case question contains more than one question then answer first only. ...
Q: How long will P150 400 grow to P200 000 at 4 3/4%? (A 6.94 years (B) 7 years (c) 6 months (D 0.69 ye...
A: Present value (PV) = P150400 Future value (FV) = P200000 Interest rate (r) = 4 3/4% = 4.75% Period =...
Q: n the Accounts Receivable account as at Jan 1st, 2010 was $133,000. The company completed the follow...
A:
Q: George and Amal file a joint return in 2019 and have AGI of $39,800. They each make a $1,600 contrib...
A: Answer: George and Amal file joint return AGI= $39,800 Contribution to IRA= $1600 each Saver credit=...
Q: The December 31, 2024, adjusted trial balance for Badger Corporation is presented below. Account...
A: BADGER CORPORATION Income Statement For the Year Ended December 31, 2024 Service Revenue $ ...
Q: On January 1, there were two jobs in process at Worship Printing Company. Details of the jobs are: ...
A: Cost of work in process ending inventory in January will be comprised of Job no A-40 as it is not fi...
Q: Restricted foreign bank account (equivalent to pesos_ 1,000,000 IOU from eldest brother of Jonathan ...
A: The companies keep cash and cash equivalents to fulfill their payme...
Q: In 2020, Emily and Mark are married. Emily earns $150,000 from her job as a finance executive. Mark ...
A: Adjusted Gross Income- Adjusted Gross Income (AGI) is defined as gross revenue less adjustments to r...
Q: Webb Company uses a job-order costing system and the following information is available from its rec...
A: Balance in work in process inventory at the end of the period will be the total cost of job #13 as i...
Q: Explain these qualitative characteristicsof financial report as per IFRS: Relevance Faithful Repres...
A: * As per the bartleby guidelines, in case of interlinked answer first 3 only Relevance: Relevance ...
Q: X Company's Job AAA manufactured 12,000 units that were completed in April at unit costs presented a...
A: Answer) Calculation of Selling Price per unit Selling price per unit = Cost per unit + markup per un...
Q: Accounting Apparel completed 3,600 expensive bags during the 1st quarter of the current year. The f...
A: Solution Gross profit = sales - cogs. Note = Allowance related to spoilage has not been included in ...
Alice promised to give you a car if Mark will pass the CPA board examination. When Mark passed the said examination, Alice refused to give the car on the ground that the condition was a purely potestative one.
Is Alice correct or not?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Stanley recently moved back to Ontario after living abroad for two years. He purchased a vehicle and is asking his Broker for insurance quotes. One insurance company's quote is favourable but the company prefers not to insure Stanley because of the gap in his insurance history. What should the Broker do to act within the scope of his agreement with the insurance company? Obtain approval for the risk from the Principal Broker for approval and then submit the completed application to the insurer.• Discuss the risk with the insurer's underwriter for binding approval and then submit the completed application to the insurer.•Discuss the risk with colleagues first and then submit the completed application to the insurer.•Submit the application without the driving gap as this will get Stanley the best rate.A friend has a medical condition but did not inform the insurance company when he purchased the policy. He fell ill but the insurance company refuses to cover his medical expenses. What should he do?Identify whether each of the following is an example of adverse selection or moral hazard.A. Joe begins smoking in bed after buying fire insurance. B. Both of Susan’s parents lost their teeth to gum disease, so Susan buys dental insurance. C. When Gertrude parks her Corvette convertible, she does not bother putting the top up, because her insurance covers theft of any items left in the car.
- Brynn decides to go on a zip line adventure. She signs a contract before she begins to go on the zip line, which says that she assumes the risks of accident or injury. While walking up the steps to grab the zip line, Brynn falls down due to a broken hand rail on the stairs. Could the property owner be held responsible? Yes, because a fall due to a faulty handrail was not the type of risk Brynn had assumed in the contract. No, because Brynn fell on her own. O No, because of Brynn's implied assumption of the risk. No, because of Brynn's express assumption of the risk. Yes, because she had not yet started zip lining but after she actually grabbed the line, the company would no longer be held responsible.Thompson’s house was destroyed by fire and claims were filed with the insurance company. The insurance company (insurer) hired Cannon to investigate the fire as it was suspicious about the cause. Subsequently, the insurer denied the claims based on Cannon’s report. Thompson sued the insurer and Cannon. Thompson claimed to be a third party beneficiary of the Cannon-insurer contract. Is Thompson correct? If not, what type of beneficiary is he and why? Nadine visits Urban Air, a trampoline park. Before Nadine can enter the trampoline park, Urban Air requires her to sign a release stating that Urban Air will not be held responsible for any injury of any kind that Nadine incurs while on Urban Air property, no matter what the cause of the injury is. While Nadine is jumping on a trampoline, her boyfriend Trevor joins her. Trevor’s ex-girlfriend Valarie, who is an Urban Air employee, becomes enraged and pushes Nadine off the trampoline. Nadine breaks an arm in the incident. Who can Nadine sue for her injuries? a) Urban Air only b) Nadine cannot sue anyone because she signed a release of liability form. c) Valarie and Urban Air Select correct answer
- 1. What are the requisites of a fortuitous event? 2. Juan is obliged to give Pedro a specific watch, a specific ring or at specific bracelet. The parties agreed that Pedro will have the right to choose the thing which will be given to him. Before Pedrocould make his choice, the watch and the ring are lost through Juan's fault, successively. What are Pedro's Rights? Explain. 3. Tito and Vic are indebted to Aida and Loma for P10,000.00. Tito and Vic share in the debt in the ratio of 1:3 while Aida and Loma share in the credit in the ratio of 2:3 How much may Aida collect from Tito? Explain. 4. Explain and Give an example of the following modes of extinguishing an obligation. a. Confusion or merger b. Tender of Payment: C. Novation d. Compensation 5. A borrowed P30,000.00 from B to be paid on September 10, 2016, in exchange. for the loan, A surrendered his Iphone7 to B as security. On September 11, 2016, B demanded that A pay the P30,000.00 loan. Since A do not have enough money.…After agreeing to rent a car from Drive-Around Inc., Eden is given the keys to one of the agency’s cars by Fess, a Drive-Around employee. With respect to the bailed property, this is a. not a delivery. b. an involuntary delivery. c. a constructive delivery. d. a physical delivery.Grandmother Smith is concerned about having an incapacitating illness that will prevent her from managing her finances. Grandmother Smith should execute a(n): Show Transcribed Text ง Homer is physically unable to sign his will. While he is heavily sedated and sleeping only a few feet away, Athena signs the will for him in the presence of a few friends. The next morning, Homer passes away. Athena wants to probate the will because she is the sole beneficiary. The will is valid.
- Rowan promised to give his dog named "Max" to Alan to be delivered on February 14, 2022. Supposed on February 14, 2022, Rowan did not deliver Max to Alan and the latter also did not demand delivery of said dog. Is Rowan liable?Before going on a business trip, Gina leaves the key to her apartment with Henri. She checks her suitcase at the airport, and boards the plane. A bailment is created when Gina a. checks her suitcase. b. all of the choices. c. delivers the key to Henri. d. boards the plane.Can you help me with some tips Question? Imagine you are a deciding Judge for the following scenario. Decide who should win the case including the reasoning for the decision? 1. Chip bought an insurance policy on his house from Insurance Co. The policy covered damage from fire but explicitly excluded coverage for harm caused “by or through an earthquake.” When an earthquake struck, Chip’s house suffered no fire damage but the earthquake caused a building some blocks away to catch on fire. That fire ultimately spread to Chip’s house, burning it down. 2. Is Insurance Co. liable to Chip? 3. Argument for Insurance Co.: The policy could not have been clearer or more explicit. If there had been no earthquake, Chip’s house would still be standing. The policy does not cover his loss. Argument for Chip: His house was not damaged by an earthquake, it burned down. The policy covered fire damage. If a contract is ambiguous, it must be interpreted against the drafter of the contract.