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Yost Corp., a computer manufacturer, contracted to sell 15 computers to Ivor Corp., a computer retailer. The contract specified that delivery was to be made by truck to Ivor's warehouse. Instead, Yost shipped the computers by rail. When Ivor claimed that Yost did not comply with the contract, Yost told Ivor that there had been a trucker's strike when the goods were shipped. Ivor refused to pay for the computers. Under these circumstances, Ivor
A. Is obligated to pay for the computers because Yost made a valid substituted performance.
B. May return the computers and avoid paying for them because the contract was void under the theory of commercial impracticability.
C. Is obligated to pay for the computers because title to them passed to Ivor when Ivor received them.
D. May return the computers and avoid paying for them because of the way Yost delivered them.
Mar. 2 Issued 5,000 shares of $1 par value common stock to attorneys in payment of a bill for $30,000 for services provided in helping the company to incorporate.
Identify two ways to finance the remaining $20,000 you will need, so you can pay all of the liabilities when they are due.
You have determined that its present capital structure (80% equity and 20% debt) is optimal, and its net income is forecasted at $140 million. Use the residual distribution approach to determine SSC's total dollar distribution.
Jade Corporation merged into Fluorite Corporation 2 years ago. At the time of the merger, Jade had an E & P deficit of $350,000 and Fluorite had a positive E & P of $300,000. The prior 2 years have resulted in a positive E & P of $100,000.
A company requires $1,020,000 in sales to meet its net income target. Its contribution margin is 30%, and fixed costs are $180,000. What is the target net income?
What is the book value at the end of years one and two using the 150%declining balance method?
Calculate the annual cash dividends to be paid for each of these preferred stock issuances:
John has $55,000 net earnings from the sole proprietorship. John is also employed by a major corporation and is paid $25,000. John' self-employment tax in 2013 is:
jesus and mindy whose modified AGI is 200,000 adopted a girl from Miami florida and incurred a total of 18,000 in qualified adoption expenses what is the amount of adoption credit they can claim?
Which of the following factors are used to compute the average collection period?
A fire completely destroyed the entire inventory of Printing Delight Company on April 10, 2014. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Company for January 1 to A..
On January 1, Pucket company paid 1.6 million for 50,000 shares of Harrison's voting common stock, which represents a 40 percent investment.
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