Amotorcycle collector and his friend had known each other for years. the collector sent a letter to the friend that said, “i am willing to sell you my oldest motorcycle for $4,000.” the friend sent the collector an email saying, “i accept your offer.” the collector owned three motorcycles: a 1985 model, a 1987 model, and a 1992 model. the friend did not know about the 1985 model, which was the one the collector intended to sell. the collector was unaware that the friend intended to buy the 1987 model. when the collector tendered the 1985 model, the friend refused to accept it. is the friend likely to prevail in a breach of contract suit against the collector?

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?

Which of the following will be a source of cash flows for a shareholder of a certain stock? i. sale of the shares at a future date ii. the firm in which the shares are held paying out cash to shareholders in the form of dividends iii. the firm in which the shares are held increasing the total number of shares outstanding through a stock split