Turtle World orders 200 small sea turtles from Reptile World. After the sea turtles had been identified to the contract but before the risk of loss had passed to Turtle World, the turtles were released into the ocean by a militant animal rights group who broke into Reptile World to set the animals free. Under this scenario:
a. Turtle World cannot successfully sue because the contract is void.
b. Turtle World can cover, then win a judgment against Reptile World for the difference between the contract price and the cover price, plus incidental and consequential damages, minus expenses saved.
c. Turtle World can successfully sue for specific performance because sea turtles are everywhere.
d. Turtle World is entitled to a judgment for compensatory damages, but not consequential damages.
a
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A company purchased new furniture at a cost of $16,000 on January 1. The furniture is estimated to have a useful life of 6 years and a $1,000 salvage value. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year?
A. $13,500 B. $13,333 C. $15,000 D. $16,000 E. $2,500
Multiplying the depreciation deduction by the tax rate yields a measure of the depreciation tax
a. deferral. b. benefit. c. payable. d. loss.
After totaling actual overhead and overhead applied, the Factory Overhead account has a debit balance of $113,000 and credit balance of $108,000 . What is the proper journal entry?
a. Debit Cost of Goods Sold $5,000, credit Factory Overhead $5,000. b. Debit Factory Overhead $5,000, credit Cost of Goods Sold $5,000. c. Debit Cost of Goods Sold $2,500, credit Factory Overhead $2,500. d. Debit Work in Process Inventory $2,500, credit Factory Overhead $2,500. e. Debit Work in Process Inventory $5,000, credit Factory Overhead $5,000.
Improved training, recognition programs, and compensation packages are examples of
A) Intervention options. B) Productivity boosters. C) Employee incentives. D) None of the above