User Account

All Pages

Millie contracted to sell frank 10000 bushels of corn to be

Assignment Help Accounting Basics
Reference no: EM13600617

Millie contracted to sell Frank 10,000 bushels of corn to be grown on Millie's farm. Due to a drought during the growing season, Millie's yield was much less than anticipated, and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of outcome impossibility of performance? Explain.
In responding to the question be sure to:

  1. Discuss the elements of impossibility of performance and the three situations where this defense can be used.
  2. Discuss commercial impracticability and its application to the above case.

Reference no: EM13600617

Questions Cloud

Calculate the ending balances in work in process finished : proration overhead. the-ride-on-wave company row produces a line of non-motorized boats. row uses a normal costing
The owner of a local souvenir shop in garden city beach is : the owner of a local souvenir shop in garden city beach is in the process of preparing an income statement at the end
A company had the following transactions pertaining to : a company had the following transactions pertaining to product a there was no beginning inventory balance.
The june 1 work in process inventory consisted of 5000 : clopack company manufactures one product that goes through one processing department called mixing. all raw materials
Millie contracted to sell frank 10000 bushels of corn to be : millie contracted to sell frank 10000 bushels of corn to be grown on millies farm. due to a drought during the growing
You are a designer of childrens clothing and decide to open : you are a designer of childrens clothing and decide to open a childrens clothing store. you find a nice space in a
Create inc produces inventory in its foreign manufacturing : create inc. produces inventory in its foreign manufacturing plants for sale in the united states. its foreign
Under variable costing the method allows one to assign : under variable costing the method allows one to assign costs that may not match the revenue streams. an example would
How is percentage change from year to year calculated on a : how is percentage change from year to year calculated on a consolidated income statement cosolidated balance sheet and

Reviews

Write a Review

Accounting Basics Questions & Answers

  Make an argument for or against the employ of either the

create an argument for or against the use of either the rolling budget or the continuous budget on the planning process

  Prepare a vertical analysis for 2010 and 2009 prepare a

telic company income statement for years ended march 3120102009sales37000035000cost of goods sold265200250800gross

  Overtime and total earnings for a week

In addition, he attended the company's 4-hour work training session on Wednesday evening. Porter's hourly rate of pay is 14.80 per hour. a. Porter's overtime for the week are ? b. Porter's total earnings for the week are ?

  Inventory cost by the first-in and first-out method

Determine the inventory cost by the first-in, first-out method, the last-in, first-out method, and the average cost method.

  Journalize the adjusting entry on december

Journalize the adjusting entry on December 31 for the impaired goodwill. b. Journalize the adjusting entry on December 31 for the amortization of the patent rights.

  Exemptions claiming on the tax return

During 2010 Murray, who is 60 years old and unmarried, provided all of the support of his aged mother. His mother was a resident of a home for the aged for the entire year and had no income. What is Murray's filing status for 2010, and how many ex..

  The atlantic company sells a product for 150 per unit the

the atlantic company sells a product for 150 per unit. the variable cost is 60 per unit and fixed costs are 270000.

  Dexter corporation which uses a job costing system had two

dexter corporation which uses a job costing system had two jobs in process at the end of 20x0 job no. 59 wip balance

  Realizing the gross profit

In 2013 Lake also repossessed $200,000 of jet skis that were sold in 2011. Those jet skis had a fair value of $75,000 at the time they were repossessed.In 2010, Lake would recognize realized gross profit of:

  Atlantic company produces a single product for the most

atlantic company produces a single product. for the most recent year the companys net operating income computed by the

  Master equipment has a 17400 liability to arrow paint co

master equipment has a 17400 liability to arrow paint co. when maste equipment makes a partial payment of 7600 on this

  Cost recovery allowed and allowable lo 1 2on november 4

cost recovery allowed and allowable lo. 1 2on november 4 2011 blue company acquired an asset for 200000 for use in its

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd