Answer:
(E) Gianni, because Gianni did not sign any agreement and he is the party being charged
Explanation:
In the above scenario, Giani is correct because unless the contracts are in writing and signed by both the parties, it is hard to go after the paying party. It remains invalid as soon as either party decides to step back.
Therefore, Dolton would have nothing to show against Giani without a written proof of the contract made.
Answer:
Explanation:
Before preparing the property, plant, and equipment section, we need to first calculate the total assets amount which equals to
= Land + Land (held for investment) + Building - Building Accumulated Depreciation + Equipment - Accumulated Depreciation of Equipment
= $62,800 + $48,700 + $208,800 - $45,900 + $198,900 - $27,400
= $445,900
The preparation of property, plant, and equipment section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:
Answer:
a. $4,160.
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.
These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
The adjusted cash book balance is one that contains the necessary adjustments to transactions captured in the bank statement but yet to be recorded in the books.
The adjusting items are
- Notes receivable and interest collected by bank 850
- Bank charge for check printing 20
- NSF check 170
Hence the adjusted cash balance
= $3500 + $850 - $20 - $170
= $4,160
Answer:
This is the sample answer
Explanation:
After a natural disaster, such as a major hurricane, there is increased demand for gasoline, lumber, bottled water, clothing, and other essential goods as people try to replace and rebuild what was lost. At the same time, the supply of these goods likely decreases because of disruptions to factories and transportation. Under normal market conditions, producers would raise their prices at the first sign of trouble, both to offset their own losses from the disaster and to obtain optimal profits.
However, people who have lost everything need to start rebuilding as soon as possible at a price they can afford to pay. The sooner the community is rebuilt and back to normal, the sooner the local economy will return to normal for both consumers and producers. For this reason, I think the government should introduce price ceilings on essential goods during a disaster. Many people would not be able to buy the goods they need without price ceilings. Although producers lose out on maximizing their profits, their actual losses are limited because they are allowed to raise prices to cover production and transportation costs driven up by the disaster.
Because citizens benefit so greatly from them, I think emergency price ceilings are beneficial to the economy as long as producers do not suffer significant losses from them.
