Answer: b.
damages should be measured by the difference between the contract price and the market price of the goods at the port of shipment
Explanation: Because the contract has already been initiated and was defaulted by the seller. The Judge would ask him to pay for damages. And this will be measured by subtracting the contract price of the goods from the market price. I.e the price the goods would gave been sold and the price the seller accepted to sell to the buyer according to the contract they signed.
Answer:
The equivalent units of production for conversion costs for the month of January is 78,760 units
Explanation:
The computation of the equivalent units of production for the conversion cost is shown below:
We know that,
Ending work in progress inventory = Units started - units completed
20,900 units = 91,300 units - units completed
So, units completed = 91,300 units -20,900 units = 70,400 units
It is given in the question that 40% ending work in progress inventory units is completed,
So completed units = 20,900 × 40% = 8,360 units
And,the equivalent units of production equals to
= Units completed + completed units in ending inventory
= 70,400 units + 8,360 units
= 78,760 units
Answer:
No, I do not think justices should be forced to retire.
Explanation:
In order to ensure that the rule of law is maintained and every arm of government and it's institutions has no influences on justices, justices should not be forced to retire, as long as they are of good behavior and conduct.
The question pertains to the argument of whether the tenure of Supreme Court justices in a democracy should be capped or not. The professor's comment implies that long tenure might hinder dynamic legal interpretations in line with evolving societal values. Whether one supports the traditional life appointment system for justices or not depends on personal perspective.
The law professor's statement likely implies that with the evolving socially progressive landscape, having Supreme Court justices serve for 25 years or more could lead to stagnation in legal interpretation and decision making. Whether the current life appointment system for justices should be changed or not is a matter of personal opinion. Supporters of the current system often argue that it preserves judicial independence and protects the court from political pressures. On the other hand, those in favor of imposing retirement ages for justices often cite the need for fresh perspectives and dynamic legal interpretations that align with current societal values.
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Answer:
From all indications,it is very clear that the question requires a journal entry to record the unpaid interest.
Dr Interest expense $1125
Cr Interest payable $1125
Explanation:
This is a typical case of an omitted entry in the books of accounts,specifically it relates year-end close accounting adjustments.
Under the accrual basis, which is prevalent in the private sector,expenses are to recorded when incurred not when they are settled in cash,as result it is imperative that the above transaction needs be adjusted by debiting interest expense account and crediting same amount to interest payable account to affirm that the company has an obligation to $1125 to mortgage providers.
Answer:
$1,280 million
Explanation:
The change between the opening inventory balance and the ending inventory balance for a period is as a result of the purchases of inventory and the sale of inventory during the period.
All of these elements are related as;
Opening inventory + purchases - cost of goods sold = ending inventory
As such, to estimate the merchandise inventory purchased,
let the purchase for the period be T
1500 + T - 880 = 1900 (All amounts in millions of $)
T = 1900 + 880 - 1500
= 1280
The merchandise purchases for the third quarter is $1,280 million.
Answer:
$23, 472
Explanation:
The question is to calculate how much Derek is willing to pay for the machine.
What the money Machine will pay in 5 years = $43, 245.00
The Discount rate= 13%
The number of years = 5 Years
Therefore, Present value of the machines:
PV= P x [1/(1+r)∧n]; P= Future benefit; r = rate and n = number of years
The calculation is as follows
Answer:
Average revenue is greater than marginal cost when the monopolist is maximizing total profits or minimizes losses. Marginal revenue decreases as average revenue decreases.
Explanation:
A monopolist controls all of the markets for a particular good or service. A monopolist does not need to improve their product much because customers have no other alternatives.
In the case of pure monopoly, no close substitutes for the product exist and there is one seller.
Average revenue is greater than marginal cost when the monopolist is maximizing total profits or minimizes losses. Marginal revenue decreases as average revenue decreases.