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Express versus Implied Contracts. Suppose that a local businessperson, McDougal, is a good friend of Krunch, the owner of a local candy store. Every day on his lunch hour McDougal goes into Krunch's candy store and spends about five minutes looking at the candy. After examining Krunch's candy and talking with Krunch, McDougal usually buys one or two candy bars. One afternoon, McDougal goes into Krunch's candy shop, looks at the candy, and picks up a $1 candy bar. Seeing that Krunch is very busy, he catches Krunch's eye, waves the candy bar at Krunch without saying a word, and walks out.
Is there a contract? If so, classify it within the categories listed in this chapter.In responding to the question be sure to:
Which of the following is not a disadvantage of using the FIFO cost flow assumption?
100 chairs were in process at the end of the year with a cost of $9,000. Each month, Ace paid $2,000 for secretarial services. Ace also paid sales commissions of $100 for each chair sold. (a) What was the cost per chair completed ? (b) Prepare a s..
Mary Close is the bookkeeper for Mendez Company. Mary has been trying to get the balance sheet of Mendez Company to balance. Mendez's balance sheet
consider some bonds with one annual coupon payment of 7.25. the bonds have a par value of 1000 a current price of 1125
technoplast company makes a line of spicialized plastic tubing items during each of the next two years it expectes to
How do companies assure compliance with regulations? How does your company comply? Any thoughts on how to streamline the regulatory process over accounting and finance?
lets assume that you have been asked to calculate risk-based capital ratios fro a bank with the following accounts
as an alternative to a summer job paying 6 per hour between her junior and senior years in college lori hart accepted
for each individual situation determine the amount that should be reported as cash. 1. checking account balance 937850
xy and z are partners in a firm sharing profits in 764 ratio.their respective fixed capitals are rs.80000rs.40000
when companies offer new equity security issues they publicize the offerings in the financial press and on internet
Captain Inc. purchases a depreciable asset for $100,000. The life of the asset is 10 years and it has an estimated salvage value of $10,000. Captain Inc. takes a full year of depreciation expense in the year the asset is acquired. Which of the fol..
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