When Sheila is 16 years old (a minor), she enters into a contract to purchase an automobile costing $20,000 from Brian, a competent adult. Brian, who believes that Sheila is an adult, does not ask for verification of her age, and delivers ownership of the automobile to Sheila after he receives her payment of $20,000. Subsequently, before Sheila reaches the age of 18 (the age of majority), she is involved in an automobile accident caused by her own negligence. The automobile sustains $7,000 worth of damage in the accident (the automobile is now only worth $13,000). If Sheila disaffirms the contract and returns the damaged vehicle to Brian, he has to pay her .

Inflation is when money is paid for the same amount of goods and services than in a previous time period. the same amount less more none of the above

Problem 1. the following balance sheet contains errors. lopez services,inc. balance sheet for the year ended december 31, 20-- assets liabilities current assets: current liabilities: cash $ 6,170 accounts receivable $ 9,000 accounts payable 8,500 accum. depr- building 13,525 supplies 1,590 accum. depr- equipment 6,340 prepaid insurance 345 net income 12,500 land 25,000 total current assets $ 42,105 total liabilities $ 40,865 stockholders equity property, plant, and equipment: wages payable $ 500 building $ 45,500 retained earnings 10,000 equipment 28,250 total stockholders' equity $ 64,490 total property, plant, and equipment 73,750 total assets $115,855 total liabilities and stockholders' equity $115,855 (a) list the errors in the balance sheet above and (b) prepare a corrected balance sheet using ms excel

Spartan systems reported total sales of $500,000, at a price of $20 and per unit variable expenses of $13, for the sales of their single product. total per unit sales $500,000 $20 variable expenses 325,000 13 contribution margin 175,000 $7 fixed expenses 120,000 net operating income $55,000 what is the amount of contribution margin if sales volume increases by 30%?