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Schreiner, a cotton farmer, agreed over the telephone to sell 150 bales of cotton to Loeb & Co. Schreiner had sold cotton to Loeb & Co. for the past five years. Written confirmation of the date, parties, price, and conditions was mailed to Schreiner, who did not respond to the confirmation in any way. Four months later, when the price of cotton had doubled, Loeb & Co. sought to enforce the contract. Schreiner argues that he is not a merchant. Is the contract enforceable?
Prepare flexible budgets for the company at sales volumes of 14,000 and 16,000 units and classify all items listed in the fixed budget as variable or fixed.
How many Grippers must Roseville Medical sell in order to breakeven and how many Grippers must Roseville Medical sell in order to earn a target profit of $500,000?
Shari Thompson invested $1,000 in a financial institution on January 1, 2014. She leaves her investment in the institution until December 31, 2018. How much money does Shari accumulate if she earns interest, compounded annually, at the following r..
Hailstorm Company sells a single product for $22 per unit. Variable costs are $14 per unit and fixed costs are $60,000 at an operating level of 7,000 to 12,000 units. What is Hailstorm Company's break-even point in units? How many units must be sold ..
The company expects to earn 15% before interest and taxes on sales of $3 million. The tax rate is 40%.
Daniel is considering selling two stocks that have not fared well over recent years. A friend recently informed Daniel that one of his stocks has a special designation, which allows him to treat a loss up to $42,000 on this stock as an ordinary loss ..
question chester has a fresh design for their product cedar next round that can reduce their material cost of producing
Based on projected performance for the first year, do you think the business should undertake the expansion which Andy Crowe has proposed - important for the banker and the Holiday Inn owners to have audited financial statements since Don Foster's ..
What amount of uncollectible account expense would Daisy report on its September income statement under each of the two methods? Which amount better matches expense with revenue? Give your reason.
Robert Nester works at Marley Manufacturing Company. Last week, Robert, who earns $20 per hour, and time-and-a-half for overtime, worked 48 hours. Of those hours, he spent 36 hours working on Job 325Y and the remainder doing preventive maintenance on..
If the investment is of a type that produces a tax credit of 40% of the amount of the expenditure, explain by how much will Roger’s tax liability decline because of the investment?
A company is considering purchasing factory equipment that costs $320,000 and is estimated to have no salvage value at the end of its 8-year useful life. If the equipment is purchased, annual revenues are expected to be $90,000 and annual operating e..
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