Refused furniture. selina arranges to sell furniture from her furniture store to roland for $3,000. roland was supposed to give selina a $500 deposit on february 1 and pay the remainder in monthly installments. selina was to deliver the furniture by february 7. roland did not pay selina as promised on february 1. he asked her to wait until march 1, but she refused. she also refused to deliver the furniture. selina was able to sell the furniture for only $2,500 because of a downturn in the economy. roland told selina that she had no right to withhold or sell his furniture and that he was suing. selina incurred $100 in additional amounts in advertising costs to advertise the furniture that roland initially purchased. selina saved $40 in delivery costs because the subsequent purchaser picked up her own furniture. which of the following is true regarding any right of selina to recover the additional advertising fees she incurred from roland? a. selina will be able to recover the damages so long as they were reasonably incurred because of roland's breach. b. she is entitled to recover the damages if she can show that roland agreed to pay such damages in his contract with her. c. she is entitled to recover the damages if she can show that roland has a history of breaching contracts of sale. d. she is not entitled to recover the fees because she had no right to resell the furniture. e. she is entitled to recover the damages if she can show that roland orally agreed to pay such damages.

Lo.2, 3, 9 lori, who is single, purchased 5-years class property for $200,00 and 7-years class property for $420,000 on may 20, 2018. lori experts the taxable income derived form the business (without regard to the amount expensed under ⧠179) to be about $550,000. lori has determined that she should elect immediate ⧠179 expensing in the amount of $520,000, but she doesn’t know which asset she should completely expense under ⧠179. she does not claim any available additional first-year depreciation. a. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 5-year class asset. b. determine lori’s total cost recovery deduction if the ⧠179 expense is first taken with respect to the 7-year class asset. c. what is your advice for lori? d. assume that lori is in the 24% marginal tax bracket and that she uses ⧠179 on the 7-year asset. determine the present value of the tax savings from the depreciation deductions for both assets. see appendix g for present value factors, and assume a 6% discount rate. e. assume the same facts as in part (d), except that lori decides not to use ⧠179 on either asset. determine the present value of the tax savings under this choice. in addition, determine which option lori should choose. f. present your solution to parts (d) and (e) of the problem in a spreadsheet using appropriate microsoft excel formulas. e-mail your spreadsheet to your instructor with a two-paragraph summary of your findings.

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?