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LAW ON OBLIGATIONS AND CONTRACTS
UNENFORCEABLE CONTRACTS
Rolando orally sold his farmland to Armando for P1,000,000.00. After spending all the money, Rolando filed an ejectment suit (lawsuit) against Armando to recover the land. Will the ejectment suit prosper? Why or why not?
Andy loaned P20,000.00 from Benny. Terrence orally promised to assume the obligation of Andy. What is the status of the contract?
Prepare Rick's journal entry to record for the right-of-use asset and lease liability at January 1, 2018. Prepare the journal entries to record interest
How Mortgage Markets Facilitate the Flow of Funds.How Money Markets Facilitate the Flow of Funds,How Bond Markets Facilitate the Flow of Funds
Big Sky Mining has no use for the machine beyond the expiration of the lease, and the machine has an estimated residual value of $250,000 at the end of the 4th year. What is the NAL of the lease?
you are auditing the accounts receivable balance of a cable television provider. individual accounts receivables tend
Signal Florists (SF) operates a retail flower shop. Their sales for October total $5,000. They have projected revenue for the next three months as follows: Prepare a cash inflow budget for December, January, and February.
Monty loaned his friend Ned $20,000 three years ago. Ned signed a note and made payments on the loan. Last year, when the remaining balance was $11,000, Ned filed for bankruptcy and notified Monty that he would be unable to pay the balance on the ..
the debits to work in process-assembly department for april together with data concerning production are as follows
Prepare necessary journal entries in accordance with generally accepted accounting principles on the books of Tomlin Company
Determine the maximum CCA deduction that can be taken for 2020. Ms. Linda Smith acquires a residential property in July, 2020 at a total cost of $315000
The XY partnership is undergoing an installment liquidation. Assuming all liabilities have been paid, what is the amount of the safe payment to partner X?
Caleb will receive 1 payment now and one next year. What amount of gain is realized on the sale. What amount of gain is recognized in Year 1
It is now the end of the financial year (30 June 2020) and Betty Brown has asked you to prepare any necessary balance day adjusting journals
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