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ivolga24 [154]
2 years ago
7

Mary promises to give her car to her friend. the friend sells his current car for a fairly low price because he is expecting to

get a nearly new car from his rich and generous friend, fred. mary changes her mind and decides to keep the car. if the friend sues mary, the court most likely will: require mary to give her friend the car because his sale of his car was consideration require mary to pay damages to the friend for any loss he incurred in connection with mary not keeping her promise not require mary to do anything because this was a gift promise require mary to give her friend the car because mary made an illusory promise
Business
1 answer:
elixir [45]2 years ago
4 0
<span>If the friend sues Mary, the court most likely will not require Mary to do anything because this was a gift promise. In order for a gift promise to be enforceable by the law, it should be a contract. And in order for it to be a contract, there should be a consideration received by Mary but in this case, no consideration was received by Mary therefore, the promise is unenforceable.</span>
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Devlin Company has two divisions, C and D. The overall company contribution margin ratio is 30%, with sales in the two divisions
maks197457 [2]

Answer:

b. $100,000

Explanation:

Devlin Company

Calculation for Total company contribution margin

= $500,000 × 30% = $150,000

Calculation for Total company variable expenses

= $500,000 − $150,000 = $350,000

Division C contribution margin ratio

= (Sales − $300,000) ÷ Sales = 0.25

Sales − $300,000 = 0.25 × Sales

(0.75 × Sales) ÷ 0.75 = $300,000÷ 0.75

Sales = $400,000

Therefore Division D sales = Total company sales − Division C sales

= $500,000 − $400,000 = $100,000

Calculation for each Divisions

Total Company Division C Division D

Sales$500,000$400,000$100,000

Less variable expenses$350,000 $300,000 $50,000

Contribution margin $150,000 $100,000$ 50,000

Contribution margin ratio 0.30 0.25 0.50

6 0
2 years ago
The value of an investment comes from its cash flows.​ Let's say you are intent on receiving​ $45,000 per​ year, starting at the
Licemer1 [7]

Answer:

Interest rate of 11.84% is required to earn desired amount of $45,000 per year from an Investment of $380,000.

Explanation:

Amount of Investment = P = $380,000

Desired Return per month = A = $45,000

Number of Years = n = 10 years

Interest rate = ?

Use following formula to calculate Interest rate:

A = P x Interest rate

$45,000 = $380,000 x r

r = $45,000 / $380,000

r = 0.1184 = 11.84%

6 0
2 years ago
Which statement describes direct materials in a manufacturing setting?A) Direct materials are used to determine total manufactur
Helga [31]

Answer:

B) Direct materials are used to determine total inventoriable product costs.

Explanation:

Product costs includes direct materials, direct labor & manufacturing overhead.

This makes Choice B a description of direct materials in a manufacturing setting. All other choices are false.

Their is a chance to use direct labor as a basis for manufacturing overhead but not direct materials.

Direct materials can be separately and conveniently traced.

And finally, as stated above, direct materials are part of the finished product.

7 0
2 years ago
Getaway Travel Company reported net income for 2021 in the amount of $50,000. During 2021, Getaway declared and paid $2,000 in c
Ad libitum [116K]

Answer:

$0.53 per share

Explanation:

The computation of basic earnings per share is shown below:-

Basic earnings per share = (Net income - Preferred dividend) ÷ (Outstanding common stock)

= ($50,000 - $2,000) ÷ (40,000 × 2) + ($10,000 × 6 ÷ 12 × 2)

= $48,000 ÷ (80,0000 + $10,000)

= $48,000 ÷ $90,000

= $0.53 per share

Therefore for computing the basic earnings per share we simply applied the above formula.

7 0
2 years ago
The Wei Corporation expects next year’s net income to be $15 million. The firm is currently financed with 40% debt. Wei has $12
Sophie [7]

Answer:

52%

Explanation:

Before diving into the use of residual distribution model, first, let us specify what our Total Investment required, Equity, Next year net income is:

Total Investment Required = 12,000,000

Equity  = 12,000,000 × (1 - 40%) = 7,200,000

Next Year Net income = 15,000,000

Using the residual distribution model , we can specify that,

Retention Amount of Net income = Equity required = 7,200,000

and,

Dividend Distribution = Net income - Retention Amount of Net income

==> Dividend Distribution = 15,000,000 - 7,200,000

==> Dividend Distribution = 7,800,000

Therefore,

Payout ratio = Dividend Distribution ÷ Net income

==> Payout ratio = 7800000 ÷ 15000000  = 0.52

Therefore, the Payout ratio for next year will be 52%

8 0
2 years ago
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