subject
Business, 19.03.2021 01:00 elias5284

Fireworks Company sold Siddle $20,000 worth of fireworks knowing that Siddle did not have a license. The purchase and payment plan was in writing, and Siddle agreed to make monthly payments of $1,500 until paid in full. The sale was illegal because Siddle did not have a license to make the purchase. Fireworks Company knew the sale was illegal because the state attorney general had previously notified Fireworks Company and other similar stores that customers needed to have proper licensing to make purchases. Fireworks Company disregarded the attorney generals notification because Fireworks Company strongly opposes government regulations. Siddle made approximately $4,500 in payments and then Siddle stopped paying. Fireworks Company sues Siddle for the remaining amount due. What is the result

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 21:00
Barbara jones opened barb’s book business on february 1, 2010. the company specilizes in editing accounting textbooks. you have been hired as manager. your duties include maintaining the company’s financial records. the following transactions occurred in february , the first month of operations. a. received shareholders' cash contributions on february 1 totaling $16,000 to form the corporation; issued 1,000 shares of common stock. b. paid $2,400 cash on february 2 for three months' rent for office space. tip: for convenience, simply record the full amount of the payment as an asset (prepaid rent). at the end of the month, this account will be adjusted to its proper balance. c. purchased and received supplies on february 3 for $300 cash. d. signed a promissory note on february 4, payable in two years; deposited $10,000 in the company's bank account. e. on february 5, paid cash to buy equipment for $2,500 and land for $7,500. f. placed an advertisement in the local paper on february 6 for $425 cash. g. recorded sales on february 7 totaling $1,800; $1,525 was in cash and the rest on accounts receivable. h. collected accounts receivable of $50 from customers on february 8. i. on february 9, repaired one of the computers for $120 cash. tip: most repairs involve costs that do not provide additional future economic benefits. j. incurred and paid employee wages on february 28 of $420.required: set up appropriate t-accounts for cash, accounts receivable, supplies, prepaid rent, equipment, furniture and fixtures, notes payable, contributed capital, service revenue, advertising expense, wages expense, and repair expense. all accounts begin with zero balances.tip: when preparing the t-accounts, you might find it useful to group them by type: assets, liabilities, stockholders’ equity, revenues, and expenses.2. record in t-accounts the effects of each transaction in february, referencing each transaction in the accounts with the transaction letter. show the unadjusted ending balances in the t-accounts. 3. prepare an unadjusted trial balance at the end of february.4. refer to the revenues and expenses shown on the unadjusted trial balance. based on this information, write a short memo offering your opinion on the results of operations during the first month of business.
Answers: 1
question
Business, 22.06.2019 10:00
In a small group, members have taken on the task roles of information giver, critic/analyzer, and recorder, and the maintenance roles of gatekeeper and follower. they need to fulfill one more role. which of the following would be most effective for their group dynamics? a dominator b coordinator c opinion seeker d harmonizer
Answers: 1
question
Business, 22.06.2019 23:20
Nnette henri is paid an hourly wage of $8.90 for a 32-hour workweek of 4 days, 8 hours daily. for any work on the fifth day and on saturdays, she is paid one and one-half times her regular hourly rate. during a certain week, in addition to her regular 32 hours, henri worked 6 hours on the fifth day and 5 hours on saturday. for this workweek, henri’s total earnings are:
Answers: 1
question
Business, 23.06.2019 00:00
Todd and jim learned that in building a business plan, it was important for them to:
Answers: 1
You know the right answer?
Fireworks Company sold Siddle $20,000 worth of fireworks knowing that Siddle did not have a license....
Questions
question
French, 01.11.2020 21:50
question
Computers and Technology, 01.11.2020 21:50
question
Social Studies, 01.11.2020 21:50
question
Mathematics, 01.11.2020 21:50
Questions on the website: 13722363