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- I own a bike that value at $1,000. I list it for sale on Craigslist. Barney sees the bike and determine that it would be worth up to $1,500 to him. He offers me $1,200 and I accept. Before Barney can pick up the bike, Charles stops by my house to look at the bike. He determines the bike would be worth $1,700 to him and he offers me $1,500. I sell the bike to Charles. Barney successfully sues me for breach of contract. If the court orders me to pay expectation damages, what is my net gain, if any, from the sale of the bike? [Be sure to deduct the value of the bike.]Hillary borrowed $2,000 from her credit union to purchase a new computer. This is an example of a cash loan. a purchase loan. a sales credit. All of these.A new company down the street is thinking about buying a radio system. Their purchasing agent, Harry, is my next-door neighbor. Harry asks me if he can "borrow" a MR-808BC from me to test out. I don't like to do that, but Harry offers me $1,200 cash to use the Broadcaster for two months. I take his $1,200 cash and loan him the MR-808BC. I deposit the $1,200 in the bank. I have been interested in the possibility of going into the rental business. This is a good opportunity to see how it will work and what results it may produce. ***For this transaction, you may do journal entries to accomplish all of the accounting necessary. Be mindful of all of the accounts impacted by this transaction. What is the JE's for the scenario above? Or is this ignored for business purposes?
- before purchasing a used car, cody lind checked https://www.kbb.com to learn what he should offer for the used car he wanted to buy. then he conducted a carfax.com search on the car he found to see if the car had ever been in an accident. the carfax was clean so he purchased the used car for $14,750. he put $2,000 down and financed the rest with a 48-month, 7.5% loan. what is his monthly car payment by table lookup? (use table 14.2) (do not round intermediate calculations. round your answer to the nearest cent.) Monthly payment: ?A store owner 1/8 illustration board for ₱12. If a customer buys 4 pieces of it, he or she receives another 1/8 illustration board for free. Mike bought from the store. He was able to bring home 5 whole illustration boards including the free piece. How much did Mike spend?T wins a door prize as the one-thousandth customer walking through the door of his favoritecoffee shop. He is given a choice of $1,000 in cash or a cappuccino machine(which cost the shop $1,000, but has a retail value of $1,500). T chooses the machine.a. T has realized at least $1,000 of income.b. T will recognize income only if and when he sells the machine.c. Both (a) and (b) are correct.d. None of the above. T bought an antique desk and chair from her employer for $50 in Year 1 when the firmbought all new office furniture. The desk and chair had a fair market value of $500.The property increases in value to $700 in Year 2, and T sells it for $900 in Year 3.a. T has realized income of $450 in Year 1 only if the difference between thevalue of the items and their price was intended as compensation.b. T will realize income of $450 in Year 1 regardless of her employer’s motive.c. T will realize income in Year 2 because the property has increased in value.d. None of the above
- Janicka is an appliance retailer. She can buy a freezer from a wholesaler for a list price of $750. If Janicka receives a series discount of 30/20/5, what is her net price?Last week Santiago found a new pair of red Nike Air Soles in the parking lot. He had just paid $120 to buy a pair of blue Nike Air Soles a few days earlier. A friend offers $80 to buy the pair of red Air Soles. Santiago says no and decides to keep both pairs for himself. The opportunity cost of this decision is how muchKA. Luna is a member of the Sidewalk Players, a band that performs on sidewalks around New York. The band regularly practices at a local community center. Luna, who plays the trumpet in the band, recently bought a new trumpet, and is interested in selling her old one. She posts the following notice at the community center: Offering the following trumpet for sale for $500 (picture of trumpet inserted) to members of the Sidewalk Players. If you are interested, please email Luna at lunasidewalkplayers a. Jared is not a member of the Sidewalk Players but sees the notice and emails Luna. May he accept the offer? b. Kayla is a member of the Sidewalk Players. She emails the following to Luna, “I am interested in buying the trumpet but will not pay more than $400. Are you interested in selling it for $400?” When Kayla does not here back from Luna after a week, she proceeds to send her a second letter that states, “I accept your offer to sell the trumpet pictured in your notice for $500.”…
- On day one, you gave a gift certificate from Chewy to your dog trainer. You paid $75 for the gift certificate. Chewy’s experience is that, on average, 10 percent of the value of a gift certificate is not redeemed (i.e. 90% is redeemed). On day 20, your dog trainer used the certificate to purchase $40 of dog toys from Chewy. How much revenue should Chewy recognize on day one and day 20: Group of answer choices $67.50 on day one and $7.50 on day 20. $75 on day one. Zero on day one and $40 on day 20. Zero on day one and $44.44 on day 20. Zero on day one and $67.50 on day 20.Salim is financial advisor and consultant. He wishes to go to Salalah during Al Khareef season. He is considering two alternatives. The first one is to drive to Salalah. This option is expected to cost Salim about $150 in fuel cost. Salim also can invite three of his friends to join the trip. Each one of them is expected to pay Salim $40. The other option for Salim is to use Muwasalat bus service. Under this option Salim will also need to rent a car once he arrives to Salalah. The total cost of this option including the bus ticket and the car rental is $400. Because the bus trip takes about 11 hours, Salim can use the time to provide consultation services that are expected to earn him $500 in total. If Salim decided to drive to Salalah, what would be the differential revenue ($) of the that option? a. None of the given answers O b. 500 C. 40 O d. 150 O e. 120Could you please help me with the journal and ledger of these transactions, I want to make sure I am on the right path. Thank you so much!