A contract is made between two parties. The terms of the contract are complete and unambiguous. A dispute arises between the Parties. Party A wants to pull out of the contract without penalty. Party B argues that Party A’s proposed action is prohibited by the express terms of the contract. Party A argues that the Parties verbally agreed to ignore that provision of the contract that would impose a penalty on Party A. Which Party will prevail and why?

Answer: Party B

Explanation:

Even though verbal agreements are enforceable by law, written agreements take precedent because they are more explicit than verbal agreements.

The written agreement will therefore be followed in this case and according to this agreement, A will be punished for the proposed action.

If A had tangible proof that a subsequent agreement was reached that would void them of said punishment, they should present it. If they do not, B would prevail.

Refer to the data below to answer the following questions:

Expenditure Income
C. Consumer goods and services $11,502 Wages and salaries $8,868
Corporate profits 1,686
I: Investment in plants, equipment, and inventory 2,670 Proprietor's income 1,348
G. Government goods and services 3,125 Rents 59
Interest 619
X: Exports 2,260 Taxes on output and import 1,147
Depreciation 2,647
M: Imports (2,757) Statistical discrepancy (106)
GDP: Total value of output $16,800 = Total value of income $16,800

Required:
What share of U.S. total income in 2013 consisted of

a. Wages and salaries
b. Corporate profits

An investor believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics. One stock is trading in yen in Japan and the other stock is a stock trading in dollars in the United States. Should the investor purchase the Japanese​ stock?

Duncan, Inc.'s unadjusted book balance showed cash balance of $1,763 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $427, deposits in transit of $831, NSF check of $195, and interest earned on the bank account of $15, the company's up-to-date ending cash balance equals:$_____

At the International Toy Fair, you decide to study retailers to understand how to improve their experience at your booth. You recruit 100 attendees each day of the three-day convention who agree to evaluate 10 booths of their choosing and record their evaluations on digital tablets. You take pictures of each of the booths evaluated, and tally the results of these 300 online surveys. Totally you have 3,000 booth evaluations, covering more than 120 different booths. You designed a:________

a. monitoring study
b. qualitative research study
c. quantitative research study
d. causal-explanatory study
e. descriptive study

d (i). Suppose that ZX Inc. is currently selling at $50 per share. You buy 200 shares, using $5,000 of your own money and borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 5%. What is the rate of return on your margined position (assuming again that you invest $5,000 of your own money) if ZX Inc. is selling after one year at $46 (use whole number percentage with two decimals rounded up/down - i.e. 0.3245 input 32.45) ? Group of answer choices -21% -20% -19% -18%

The expected average rate of return for a proposed investment of $5,330,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $15,990,000 over the 20 years is (round to two decimal points). a.1.50% b.15.00% c.60.00% d.30.00%

Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 200 $ 140 6/5 Purchase 400 $ 160 11/10 Purchase 100 $ 200 During the year, Maxim sold 400 units. What is cost of goods sold using the average cost method

Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
a. 4.21
b. 15.00
c. 4.00
d. 3.75

ecause of coronavirus, demand for Vitamin C tablets increased significantly at CVS. CVS started to observe a weekly demand of 85 boxes of Vitamin C tablets with a standard deviation of 50 boxes. The cost of placing an order is $200, and the time from ordering to receipt is 4 weeks. The procurement cost (wholesale price) of the product is $15. The annual inventory carrying cost is 10% of the procurement cost of the product. What is the reorder point if it wants to achieve a stock out probability of 5%

Huelskamp Corporation has provided the following data concerning its overhead costs for the coming year: The company has an activity-based costing system with the following three activity cost pools and estimated activity for the coming year: The Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining costs. The distribution of resource consumption across activity cost pools is given below: The activity rate for the Assembly activity cost pool is closest to:

Amanda, one of Abigail's fellow workers at BOSS, was surprised to learn that her department's schedule was changed from a standard 8 a.m. to 5 p.m. day, with an hour for lunch, to a work day that began at 8 a.m. and ended at 6 p.m., and that included a two-hour lunch. BOSS was located in the far suburbs, and there was little Amanda could do during the two-hour lunch period. What especially upset Amanda was the realization that when she got off work at 6 p.m. and drove 30 minutes to pick up her child at day care, she would be at least an hour late for daycare and would have to pay a very costly penalty. There were no day care facilities closer to the job, so Amanda had little recourse. She raised this concern to her supervisor, and when she was told that the new schedules were going to remain 8-6 with a two-hour lunch, Amanda began a campaign to pressure BOSS to change that schedule back. She wrote letters to the local newspaper, and called a local TV station. When Amanda's employer learned of Amanda's actions, it discharged her under Employment at Will (EAW). Amanda filed suit for wrongful discharge, claiming that this was a public policy exception to EAW because it constrained her Constitutional First Amendment right to Freedom of Speech. Which of the following is most correct?

a. Amanda will not win her lawsuit for wrongful discharge.
b. Amanda will not win her lawsuit for wrongful discharge unless the court decides that Amanda had legal standing to bring the case.
c. Amanda will win her lawsuit for wrongful discharge unless the court decides that BOSS had legitimate business necessity for changing the schedule.
d. Amanda will win her lawsuit for wrongful discharge.

Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 Provided $45,000 of cleaning services on account. Collected $39,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Events Affecting Year 2 Wrote off a $300 account receivable that was determined to be uncollectible. Provided $62,000 of cleaning services on account. Collected $61,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning $ 354,000 Work in process inventory, beginning 83,000 Work in process inventory, ending 77,100 Cost of goods manufactured 944,200 Finished goods inventory, ending 292,000

Presented below are transactions related to Carla Vista Company.
1. On December 3, Carla Vista Company sold $622,200 of merchandise on account to Flint Co., terms 4/10, n/30, FOB destination. Carla Vista paid $330 for freight charges. The cost of the merchandise sold was $372,100.
2. On December 8, Flint Co. was granted an allowance of $20,300 for merchandise purchased on December 3.
3. On December 13, Carla Vista Company received the balance due from Flint Co.
Prepare the journal entries to record these transactions on the books of Carla Vista Company using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
No. Date Account Titles and Explanation Debit Credit
1. (To record credit sale) (To record cost of merchandise sold)
2.
3. Dec 13
Assume that Carla Vista Company received the balance due from Kingbird Co., on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
Date Account Titles and Explanation Debit Credit

Which of the statements is not true about a bank run? Fears leading to bank runs can be self-fulfilling. There was a wave of bank runs during the Great Depression. Bank runs are bad for the bank affected and usually good for the bank's competitors. Deposit insurance is designed to reduce the risk of bank runs for depository banks. Since the Great Depression the government has set up regulation that has eliminated most bank runs.

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:________
A. Accounts Receivable-A. Hopkins 2,000
Allowance for Doubtful Accounts 2,000
Cash
Accounts Receivable-A. Hopkins 2,000
B. Cash 2.000
Bad debts expense 2,000
C. Accounts Receivable-A. Hopkins
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins
D. Accounts Receivable-A. Hopkins 2,000
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins 2,000
E. Allowance for Doubtful Accounts 2,000
Accounts Receivable-A. Hopkinse 2,000
Accounts Receivable-A. Hopkins 2,000
Cash 2,000
F. Cash 2,000
Accounts Receivable-A. Hopkins 2,000

Which scenarios provided would cause a change in demand for grape jelly?
A)
The price of grape jelly increases considerably.
B)
Grape jelly is placed on sale at a local supermarket.
The prices of peanut butter and bread increase substantially.
D)
Summer is approaching and more people prefer sandwiches for lunch.
E)
The federal government releases a report on the positive health benefits of
grape jelly

The following information is from Amos Company for the year ended December 31, 2019. Retained earnings at December 31, 2018 (before discovery of error), $858,000. Cash dividends declared and paid during the year, $18,000. Two years ago, it forgot to record depreciation expense of $42,600 (net of tax benefit). The company earned $220,000 in net income this year. Prepare a statement of retained earnings for Amos Company. (Amounts to be deducted should be indicated with a minus sign.)

The annual demand for a product has been projected at 2000 units. This demand is assumed to be constant throughout the year. The ordering cost is $20 per order, and the holding cost is 20 percent of the purchase cost. The purchase cost is $40 per unit. There are 250 working days per year. Whenever an order is placed, it is known that the entire order will arrive on a truck in 6 days. Currently, the company is ordering 500 units each time an order is placed. What level of safety stock would give a reorder point of 60 units? A. 12 B. 18 C. 10 D. 14

Hubert lives in San Francisco and runs a business that sells boats. In an average year, he receives $842,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $452,000; he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Hubert does not operate this boat business, he can work as an accountant, receive an annual salary of $48,000 with no additional monetary costs, and rent out his showroom at the $38,000 per year rate. No other costs are incurred in running this boat business.
Identify each of Hubert's costs in the following table as either an implicit cost or an explicit cost of selling pianos.
Implicit Cost Explicit Cost
The wholesale cost for the pianos that Hubert pays the manufacturer
The salary Hubert could earn if he worked as an accountant
The wages and utility bills that Hubert pays
The rental income Hubert could receive if he chose to rent out his showroom
Complete the following table by determining Hubert's accounting and economic profit of his piano business.
Profit
(Dollars)
Accounting Profit
Economic Profit
If Hubert's goal is to maximize his economic profit, he( should, should not) stay in the piano business because the economic profit he would earn as an accountant would be $______.

Company X paid Company Y $1.85 million for a new plant. During the same accounting period, Company X experienced the following changes in its balance sheet: Cash decreased by $353,000, Accounts Receivable increased by $321,800, Inventory increased by $276,300, Property, Plant, and Equipment increased by $753,400, and Bonds Payable increased by $2 million. The net cash flow provided by financing activities is:

A Giffen good is a good for which price and quantity demanded are positively related. A Giffen good arises when:_______.
a. the income effect and the substitution effect move quantity demanded in opposite directions, with the income effect outweighing the substitution effect.
b. the income effect and the substitution effect move quantity demanded in opposite directions, with the substitution effect outweighing the income effect.
c. the income effect and the substitution effect move quantity demanded in the same direction, with the income effect outweighing the substitution effect.
d. the income effect and the substitution effect move quantity demanded in the same direction, with the substitution effect outweighing the income effect.

name 5 kids who helped the world

A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $500 each month for the three-month season. The team pays the players and manager a total of $2500 each month. The team charges $10 for each ticket, and the average customer spends $6 at the concession stand. Attendance averages 100 people at each home game.

The team earns an average of $_________ in revenue for each game and $_____________ of revenue each season. With total costs of $___________ each season, the team finishes the season with $____________ of profit.

On December 31, 2014, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 11% is imputed.
Instructions:
Prepare the entries that would be recorded by Oakbrook Inc. for the sale and for the receipts and interest on the following dates. (Assume that the effective-interest method is used for amortization purposes.)
(a) December 31, 2014.
(b) December 31, 2016.
(c) December 31, 2018.
(d) December 31, 2015.
(e) December 31, 2017.

Headland Company loans Sarasota Company $2,190,000 at 6% for 3 years on January 1, 2020. Headland intends to hold this loan to maturity and has the financial ability to do so. The fair value of the loan at the end of each reporting period is as follows. December 31, 2020 $2,238,000 December 31, 2021 2,210,000 December 31, 2022 2,190,000 Prepare the journal entry(ies) at December 31, 2020, and December 31, 2022, for Headland related to these bonds, assuming (a) it does not use the fair value option, and (b) it uses the fair value option. Interest is paid on January 1.

A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal

utility decreases after the first loaf, how might the baker get her customers to buy more

than one loaf?

Consider a five-person family consisting of a father, mother, twin 16-year-old sons attending high school, and an 85-year- old grandfather. The grandfather receives Social Security but has no other sources of income. The father and mother provide the majority of the grandfather's financial support because of his expensive in-home medical care. In 2017, before the change in the tax laws, what is the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions

Information related to Riverbed Co. is presented below.

a. On April 5, purchased merchandise on account from Tamarisk Company for $36,000, terms 3/10, net/30, FOB shipping point.
b. On April 6, paid freight costs of $920 on merchandise purchased from Tamarisk.
c. On April 7, purchased equipment on account for $30,500.
d. On April 8, returned damaged merchandise to Tamarisk Company and was granted a $4,200 credit for returned merchandise.
e. On April 15, paid the amount due to Wilkes Company in full.

Required:
Prepare the journal entries to record these transactions on the books of Kerber Co. under a perpetual inventory system.

Albatross Software has two main products: WindSong is a program that can be used to edit audio files and SunBurst is a program that can be used to edit digital photos. The two major types of customers are small businesses and home users. The small business customers have a reservation price of $300 for WindSong and $450 for SunBurst. The home users have a reservation price of $100 for WindSong and $125 for SunBurst. Which of the following statements is true?
A) Bundling the two software products is not likely to be profitable because the marginal cost of producing sofware is positive by very small.
B) Bundling the two software products is not likely to be profitable because the consumer demands are homogeneous.
C) Bundling the two software products is likely to be profitable because the demands are negatively correlated
D) Bundling the two software products is not likely to be profitable because the demands are positively correlated.