answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
goldfiish [28.3K]
2 years ago
6

Yard Mowing. Paula agreed to mow John's yard once a week for $50 per week throughout the summer. Paula, however, was having trou

ble getting her money from John. On one occasion, he gave her a handwritten IOU stating "I, John Jones, owe Paula Smith $50" which he signed at the end. A couple of weeks later, John did not have the money with which to pay Paula for additional mowing, and he handwrote the following on a piece of paper and gave it to her: "I, John Jones, promise to pay Paula Smith or to bearer, the sum of $100 on Monday, July 22, 2017." Paula quit mowing John's yard, and disgusted with John, Paula assigned both documents to Vince. When Vince presented the documents to John, John refused to pay on the basis that after inspecting the yard, he decided that Paula was doing a poor job. Vince told him the documents constituted negotiable instruments, but John disagreed. Which of the following is true regarding the effect on negotiability of John's determination that Paula did a poor job mowing the yard?
A) Paula's performance prevents the instruments from being negotiable,but only if John meets the burden of proof of establishing by a preponderance of the evidence that Paula did a poor job mowing the yard.B) Paula's performance prevents the instruments from being negotiable,but only if Paula meets the burden of proof of establishing by a preponderance of the evidence that she did an acceptable job mowing the yard.C) Paula's performance prevents the instruments from being negotiable,but only if John meets the burden of proof of establishing by a preponderance of the evidence that Paula did a poor job mowing the yard,and if Paula signed a document agreeing that the instrument would lack negotiability unless she properly performed.D) Paula's performance prevents the instruments from being negotiable,but only if Paula meets the burden of proof of establishing by a preponderance of the evidence that she did an acceptable job mowing the yard and that she did not sign any document agreeing that the instrument would lack negotiability upon John's objection.E) Manner of performance is not one of the listed elements for negotiability.
Business
1 answer:
ira [324]2 years ago
6 0

Answer:

B) Paula's performance prevents the instruments from being negotiable,but only if Paula meets the burden of proof of establishing by a preponderance of the evidence that she did an acceptable job mowing the yard.

Explanation:

Initially, there was a verbal contract between them which John did not oppose. His observations ought to have made known to Paula after mowing the yard probably the second time, so that she would be aware of his reservation.

John might be right with his claim and thus his decision not to pay the wages. But a good question to ask from him is if he observed the claim immediately after Paula finished her job or a few days after. Secondly, probably he had an alterior motive even before the agreement.

The only action that Paula can take to weaken John's claim is to provide an evidence to support her good job done after each mowing.

You might be interested in
Mrs. Jones always wanted a white picket fence in front of her house. Mr. Jones, her husband, wants a fence around the entire hou
Kazeer [188]

Answer:

The dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

Explanation:

Since Mrs. Jones always wanted a white picket fence in front of her house, and Mr. Jones, her husband, wants a fence around the entire house including a decently-sized lawn in the front and a garden in the back, and the fence border should look like a rectangle, and I have calculated that he would need to fence off an area of ​​4,000 square feet in order to fit all these things, and he wants to appease his wife and at least build the white picket fence in front of the house, and he plans to build the rest of the fence with chain link, a cheaper material, given that a white picket fence costs $ 7 per foot and a chain link fence costs $ 4 per foot, to determine what dimensions for the entire area will give the cheapest cost for the entire fence, the following calculation should be performed:

Area of ​​a rectangle = base times height = Z x Y = 4,000

80 x 50 = 4,000

40 x 100 = 4,000

20 x 200 = 4,000

20 x 7 x 2 + 200 x 4 x 2 = X = 280 + 1600 = 1880

40 x 7 x 2 + 100 x 4 x 2 = X = 560 + 800 = 1360

80 x 7 x 2 + 50 x 4 x 2 = X = 1120 + 400 = 1520

Therefore, the dimensions for the entire area will give the cheapest cost for the entire fence are 40 feet in front, 100 feet on each side, and 40 feet on bottom.

8 0
2 years ago
Barnett Industries, Inc., issued $600,000 of 8% bonds on January 1, 2019. The bonds pay interest semiannually on July 1 and Janu
Vera_Pavlovna [14]

Answer:

1. The selling price of the bonds is $590.976.46

2 .The journal entry for the issuance of the bonds and bond issue costs would be as follows:

                                                      Debit                          Credit

Cash                                             $538,976.26

Discount on bonds payable       $39,023.74

Unamortized bonds issue costs $22,000

                                       Bonds Payable                       $600,000

3. Assuming that Barnett uses IFRS,  the journal entry for the issuance of the bonds would be as follows:

                     Debit                      Credit              

Cash             $600,000

          Bonds Payable             $600,000

Explanation:

In order to calculate the selling price of the bonds we would have to calculate first the present value of particular and present value of interest, hence:

present value of particular=($600,000×0.414643)=$248,785.80

present value of interest=$600,000×4%13.007936=$312,190.46

Therefore, selling price of the bonds=present value of particular+present value of interest

1. Selling price of the bonds=$248,785.80+$312,190.46=$590.976.46

2. The journal entry for the issuance of the bonds and bond issue costs would be as follows:

                                                      Debit                          Credit

Cash                                             $538,976.26

Discount on bonds payable       $39,023.74

Unamortized bonds issue costs $22,000

                                       Bonds Payable                       $600,000

3. Assuming that Barnett uses IFRS,  the journal entry for the issuance of the bonds would be as follows:

                     Debit                      Credit              

Cash             $600,000

          Bonds Payable             $600,000

4 0
2 years ago
In addition, your MARGIN PER UNIT must cover another set of important but potentially large costs. To investigate these addition
babymother [125]

Effect of Contribution Margin on the other costs is given below

Explanation:

1.Contribution margin per unit is the net amount that each additional unit sold contributes towards a company's fixed costs and profit. It equals the difference between the product's sales price and variable cost per unit.It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm's costs.Also known as dollar contribution per unit, the measure indicates how a particular product contributes to the overall profit of the company. It provides one way to show the profit potential of a particular product offered by a company and shows the portion of sales that helps to cover the company's fixed costs. Any remaining revenue left after covering fixed costs is the profit generated.

2.The Formula for Contribution Margin Is

The contribution margin is computed as the difference between the sale price of a product and the variable costs associated with its production and sales process.

Contribution Margin=Sales Revenue - Variable Costs

3.The contribution margin is the foundation for break-even analysis used in the overall cost and sales price planning for products. The contribution margin helps to separate out the fixed cost and profit components coming from product sales and can be used to determine the selling price range of a product, the profit levels that can be expected from the sales, and structure sales commissions paid to sales team members, distributors or commission agents.

4,The contribution margin represents the portion of a product's sales revenue that isn't used up by variable costs, and so contributes to covering the company's fixed costs.

The concept of contribution margin is one of the fundamental keys in break-even analysis.

Low contribution margins are present in labor-intensive companies with few fixed expenses, while capital-intensive, industrial companies have higher fixed costs and thus, higher contribution margins

3 0
2 years ago
Given an optimal capital structure that is 50% debt and 50% common stock, calculate the weighted average cost of capital for the
klemol [59]

Answer:

As the WACC is more than 7.5%, option D is the correct answer.

Explanation:

The weighted average cost of capital or WACC is the cost of a firm's capital structure. To calculate the WACC, we multiply the weight of each component of the capital structure by the cost of that component. The components of capital structure can be one or all of the following namely debt, preferred stock and common stock.

The formula for WACC is,

WACC = wD * rD * (1-tax rate)  +  wP * rP  +  wE * rE

Where,

  • w represents the weight of each component
  • r represents the cost of each component
  • D, P and E represents debt, preferred stock and common stock respectively

First we need to determine the cost of debt and equity for this firm.

We use the market value of debt and thus, rate for the calculation of WACC.

The cost of debt will be its yield to maturity as it is the current rate or cost. Thus, rD will be 6%.

The cost of equity can be determined using the constant growth model of DDM 's formula for prcie today.

P0 = D0 * (1+g) / (r - g)

80 = 5 * (1+0.05) / (r - 0.05)

80 * (r - 0.05) = 5.25

80r - 4 = 5.25

80r = 5.25 + 4

r = 9.25 / 80

r = 0.115625 or 11.5625%

WACC = 0.5 * 0.06 * (1-0.3)  +  0.5 * 0.115625

WACC = 0.0788125 or 7.88125%

As the WACC is more than 7.5%, option D is the correct answer.

8 0
2 years ago
Read 2 more answers
Richard is the owner of a very popular burger joint in his locality. He knows that his burger joint's location and excellent cus
Sergio039 [100]

Answer:

Richard is trying to understand if his product or service is substitutable.

Explanation:

According to the resource based theory, businesses gain competitive advantages over other businesses in the industry based on the strength of their resources.

For competitive advantage to be sustainable however, such resources must be rare, and not easily imitated or substituted.

Richard is carrying out research on his competitors to find out what they have to offer, to know if his product can be easily substituted or replaced.

4 0
2 years ago
Other questions:
  • After a dinner at Rosario’s Italian Eatery, Stephanie believes that she was overcharged and shoves Thom, the waiter. Thom sues S
    11·1 answer
  • The primary operating goal of a publicly-owned firm interested in serving its stockholders should be to a. Maximize the firm's e
    14·1 answer
  • Nasim was fired from his job after 3 years of good performance. His boss simply said that the organization was changing and did
    5·1 answer
  • Consider the market for white athletic socks, which consumers consider to be identical products. If the demand is very elastic a
    12·1 answer
  • Consider the following information: Rate of Return If State Occurs State of Probability of Economy State of Economy Stock A Stoc
    6·1 answer
  • During the meeting, the manager exclaims "I am in charge" in order to initiate structure, set goals, assign tasks, and take conc
    8·1 answer
  • Kate is a busy student. She likes to run to stay healthy and fit. She doesn't shop all the brands because she knows what shoe is
    14·2 answers
  • In two paragraphs, compare secured and unsecured types of credit. Secured sources of credit include title loans and personal loa
    13·1 answer
  • Greene Corporation Balance Sheets At December 31
    10·1 answer
  • Your father has $500,000 invested at 8%, and he now wants to retire. He wants to withdraw $50,000 at the end of each year, begin
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!