The subject of a bailment could be
a. a bicycle.
b. a jacket.
c. a set of china.
d. all of these.
D
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Texas Inc sold merchandise to Fagin Corp on December 28, 2014, with shipping terms of FOB destination. Fagin Corp received the merchandise on January 3, 2015 . Which one of the following statements is true?
a. Texas should record sales revenue on December 28, 2014. b. Fagin Corp. should pay the transportation costs. c. Fagin Corp. should include the merchandise in its inventory at December 31, 2014. d. Fagin Corp. should record a liability for the purchase on January 3, 2015.
On February 15, Jewel Company buys 7,000 shares of Marcelo Corp. at $28.53 per share. The purchase is classified as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corp. declares a dividend of $1.15 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 30 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.30 per share. The fair value of the remaining shares is $29.50 per share at year-end. The amount that Jewel Company should report in the current-year income statement from its investment in Marcelo Corp. is:
A. Unrealized Loss-Income; $3,395. B. Unrealized Loss-Equity; $3,395. C. Unrealized Gain-Income; $10,295. D. Realized Gain-Income; $3,395. E. Unrealized Gain-Income; $3,395.
One of the main ways for a firm charged with violating the Robinson-Patman Act to defend itself is to show a(n) for different prices charged in different markets or to different buyers
a. cost justification b. efficiency justification c. humanitarian justification d. false justification e. price justification
Adair Credit, Inc. has $35.0 million in consumer loans with an average interest rate of 12.0%. The company has $30.0 million in home equity loans with an average interest rate of 8.0%, and owns $5.0 million in corporate securities with an average interest rate of 6%. Next year, consumer loans are estimated to increase to $40.0 million because of a rate decrease to 10.0%, while home equity loans are estimated to increase to $32.0 million at an average interest rate of 6.5%. Unfortunately, the investment in corporate securities is estimated to decrease by 20% and the average interest rate is estimated to be 9.0%. What is Adair's estimated change in revenues next year?
A. $460,000 decrease. B. $460,000 increase. C. $700,000 decrease. D. $700,000 increase.