Customers on the afternoon of the party

Assignment Help Accounting Basics
Reference no: EM13969547

1. Kathy, aged 17, decides to leave home because she does not get on with her parents. Over the next three weeks she enters into the following agreements:

(a) She borrows £500 from her older brother to tide her over until she can find a job.

(b) She takes a two-year lease on a bed-sit, paying three months' rent in advance.

(c) By pretending to be 21, she orders a £700 suite of furniture from Palatial Pads Ltd on 12 months' interest-free credit.

(d) She sets up a home catering business and immediately agrees to cater for 100 people attending a 21st birthday party for a price of £300. She insists on £100 deposit. As the day for the party approaches, she finds that she has taken on too much work for one person, so she rings her customers on the afternoon of the party to say that she will not be able to do the catering after all.

Discuss the legal effects of these transactions.

Reference no: EM13969547

Questions Cloud

Methods of user-based and user-controlled navigation : Discuss different methods of user-based and user-controlled navigation. Define five common types of links used in a navigation system.
Prepare a case study on turkell stud mill case : Prepare a case study on "Turkell Stud Mill Case". Analysis Coherent flow; adequate research; presentation of the key issues and concerns related to the situation.
The public methods of the bankaccount class : The public methods of the BankAccount class in your code to achieve the steps listed above to get full credit. Pretend theBankingDriver does not know the amounts in the two BankAccount objects and has to use their public methods to get these values.
Write the maxterm expansion for f : A combinational switching circuit has four inputs and one output as shown. F = 0 iff three or four of the inputs are 1.    a.  Write the maxterm expansion for F.
Customers on the afternoon of the party : She sets up a home catering business and immediately agrees to cater for 100 people attending a 21st birthday party for a price of £300. She insists on £100 deposit. As the day for the party approaches, she finds that she has taken on too much wor..
Semiannual interest payments : Company B issued $3,000,000 of a bond on 1-1-x1. Since the market interest rates were lower than the bond interest rate, the bonds were sold for a premium. The company received $3,200,000 for the bonds with a 20 year life, 10%, semiannual interest pa..
Affect varied locations to different extents : In this course we examine a number of environmental impacts, and some of them may be of particular concern in your local area. Environmental impacts like urban sprawl, air and water pollution, and rapid urban growth (just to name a few) tend to affec..
What are the reasons for contradiction between net present : What are the reasons for contradiction between Net Present Value (NPV) and Internal Rate of Return (IRR). What is social cost benefit analysis?
One or two most challenging issues in identifying : Discussion Question 2-1. What are the one or two most challenging issues in identifying and documenting IT acquisition requirements (i.e., the requirements for solving the problem that was defined)? Explain your reason(s) and how the issue(s) can be ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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