Answer:
Explanation:
The journal entry is shown below:
Truck A/c Dr $4,500
To Cash A/c $4,500
(Being the truck is replaced for cash)
Since the truck is replaced so we debited the truck account and credited the cash account so that the correct posting can be done.
The replacement cost increase its useful life which is capitalized so we also debited the truck account
Answer: Return the car and pay for the damage(D)
Explanation:
To disaffirm a contract means to avoid the obligations in a contract. A contract can be disaffirmed by a minor when he shows an intent that he or she isn't bound by it. Contracts can be disaffirmed by minors before they reach eighteen years. When a minor disaffirms a contract, all properties transferred to the minor can be gotten back.
In the scenario explained in the question, even though Eddie had damaged the car, he can disaffirm the contract and satisfy his duty if restitution by returning the car and paying for damage.
Answer:
The court will probably look at the custom usage of trades on similar contracts and provisions.
Explanation:
Usage of trade refers to business practices that are so commonly accepted and carried out that anyone can expect that they are included in the transactions.
Answer:
a short-run decision because the number of aircraft is held constant while the labor input is changed.
Explanation:
In the short run, at least one variable or factor of production is fixed and cannot be changed. In the long run, all factors of production can be changed.
In this case, the number of aircraft is the fixed factor of production (capital) while labor is variable because more pilots can be hired. Regulation state that pilots must rest a certain amount of time in between flights, so if you want to increase the amount of flights you need to hire more pilots and cabin crews since regulations do not require planes to rest.
