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Maria Palomo purchased a used car from LeBlanc Hyundai Partnership. She explained to the sales representative that she needed the car to go to work and to take care of her grandchildren. The representative told her that the car would be appropriate for those purposes and that, if she took care of the car, it “would last forever.” Palomo believed that this comment meant that the car would last her the rest of her life. She kept up with regular maintenance, but she began to have problems with the car. Palomo’s mechanic recommended that she replace the car’s engine. Palomo wanted to return the car to LeBlanc and be refunded the purchase price. The trial court awarded her $1,000 for repairs and damages. She appealed the decision. Should Palomo be allowed to revoke acceptance? What is the appropriate remedy?
Compute the total cost of units transferred out using the weighted-average method and weighted average method.
Suppose that Miller is operating at full capacity. If Miller were to accept Brisbois's offer, find what would be the change in Miller's operating profits?
Determine the effect on the company's total net operating income of accepting the special order. Show your work
The following is selected information from Ventura Company for the fiscal years ended December 31, 2014: Ventura Company had net income of $1,225,000. Depreciation was $500,000, purchases of plant assets were $1,250,000, and disposals of plant assets..
George Hincapie Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the company's bikes. After a careful evaluation of the request,..
what are the key management assertions related to long-term assets and liabilities. What are the most important assertions related to long-term assets and liabilities? How will auditors test these assertions.
Danya Company has created a new software application for PCs. what value may the software appear on the balance sheet after 1 year?
Discuss, from both an economic and a political viewpoint, why countries have become increasingly interdependent on each other.
a quaint but well-established coffee shop the hot new cafe wants to build a new cafe for increased capacity. define the
The Bodner Corporation sold a machine with a cost of $10,000 and accumulated depreciation of $6,000 for a selling price of (a) $7,000; (b) $2,000. How would this transaction be handled on the statement of cash flows?
Georgia Co. had beginning inventory of $1,350 and ending inventory of $1,475. The cost of goods sold was $4,350. Based on this information, Georgia Co. must have purchased inventory amounting to:
How should differences between acquisition cost and the market value of inventory be reported on the balance sheet under IFRS and U.S. GAAP?
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