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sdas [7]
1 year ago
11

3. Bob, a minor, contracted with Pioneer Temporary Staffing Agency, LLC, an employment agency, for the agency to find a job for

him. The agency’s fee under the contract was $200. Bob started working for Big Job Opportunity, Inc as an interoffice mail carrier, a job that was referred through the contracting employment agency. Bob decided to quit his job position 3 months after he started his employment and while still a minor disaffirmed the contract with the employment agency. The agency sued Bob for the job placement fee. Can Bob disaffirm his contract with the employment agency? Please briefly explain each party’s position.
Business
1 answer:
svp [43]1 year ago
3 0

The agency's position is that Bob had already signed a contract, and that the contract included a placement fee due to the fact that Bob was able to find this job through the agency. On the other hand, the position that Bob would most likely argue is that he is a minor. As a minor, Bob is allowed to disaffirm his contract. Therefore, Bob is likely to win in this dispute.

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During 2019, Pepe Guardio purchases the following property for use in his calendar year-end manufacturing business:
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Answer:

Depreciation Expense for 2019 using form 4562

Basis For depreciation; Recovery Period ; Convention ; Method ; Depreciation deduction

2,000 ; 5 years ; HY ; 200 DB ; 400

40,000 ; 7 years ; HY ; 200 DB ; 6,573

Explanation:

Accelerated method of depreciation is used by businesses for accounting and income tax purposes. The depreciation is calculated in such a way that the depreciation expense is higher in early years and lower in later years. Pepe is also using this method to account for his business assets. The depreciation expense for computer equipment and manufacturing equipment's totals $6,973.

8 0
2 years ago
When contemplating stopping distances, the three critical factors to be considered are
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C perception, reaction, braking
3 0
1 year ago
Purple Corporation acquired 75 percent of Socks Corporation’s common stock on January 1, 20X8, for $435,000. At that date, Socks
Ivahew [28]

Answer:

20X8 = 162,000

20X9 = $197,000

Explanation:

The calculation of the consolidated comprehensive income for the year 2008 and 2009 is shown below:

                         Consolidated comprehensive income

Particulars                                              20X8        20X9

Purple Corporation

Operating Income                             $120,000         $140,000  

Add: Net Income

from Socks Corporation             $40,000          $60,000  

Less: Amortization of differential

($80,000 ÷  10 Years)                    ($8,000)         (8,000)  

Consolidated net income            $152,000         $192,000  

Add: Comprehensive income

reported by Socks Corporation    $10,000          $5,000  

Consolidated

comprehensive income            $162,000          $197,000

3 0
1 year ago
One of the biggest challenges of business process design is​ ________.
Bogdan [553]
The biggest challenges of business process design are how a business could engage people from getting to work in a way of working new ways or techniques and even following procedures that are different and that they are not known to be of.
3 0
2 years ago
Lundquist Company received a 60-day, 9% note for $28,000, dated July 23, from a customer on account. Required: a. Determine the
Alex

Answer:

a. Sep 10

b. $21,823

c. $21,500

Explanation:

a) Due date of the note

July 13 to 31 = 19 days

Aug 1 to 31 = 31 days

Sep 1 to Sep 10 = 10 days

due date is Sep 10

b) Maturity value of the note

$ 21500 + $ 21500*9%*60/360

= $ 21823

c) Journal entry

Cash debit $ 21823

interest recieved credit $323

Notes Receivable credit $ 21500

6 0
1 year ago
Read 2 more answers
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