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Nellie Nimble, purchasing manager for Fast Color Paint Company, Need more help! Nellie Nimble, purchasing manager for Fast Color Paint Company, mailed a purchase order to AB Can Corporation for 100,000 cans of high-gloss white paint at $15 per gallon wholesale. The order form mailed by Nellie contained 17 printed conditions on its reverse side. The third condition stated: “Buyer may reject any defective goods within 30 days of delivery.” The order form also stated that payment would be made as follows: 50% upon receipt of the goods, and 50% within 30 days of the receipt of goods. AB Can (the seller) sent a signed letter confirming the order, but the letter stated: “Any objection to goods shipped must be in writing within five (5) days of receipt of goods.” AB Can’s letter specified the same payment schedule as Fast Color’s purchase order, but stated, in addition, “Interest at the rate of 12% per year will be charged on late payments.” Fast Color’s purchase order said nothing about interest on late payments. AB Can delivered the cans (100,000) and Fast Color sought to object to 10,000 of the cans as defective on the seventh day after receipt of the cans. Fast Color paid 50% of the order’s purchase price upon delivery but paid the balance (minus the 10,000 cans it rejected) 40 days after delivery. Did Fast Color have the right to reject 10,000 cans, seven days after delivery? Does Fast Color owe interest on the portion of its payment that was not paid within 30 days of receipt of the paint order? Did the provision for interest on late payments materially alter the contract? What terms in AB Can’s purchase confirmation are additional terms, not mentioned at all in Fast Color’s order? (Explain your rationale, and also state whether you believe the outcome is fair.) Students also viewed these Organizational Behavior questions • On November 15, 2015, Forest issued a purchase order to a • On November 15, 2015, Forest issued a purchase order to a supplier in Amsterdam to purchase supplies totalling €100,000 with payment due on March 1, 2016. The supplies arrived on December 15, 2015 and are included in inventory at December 31, 2015. The company did not hedge this payable. What journal entry would be made as goods are transferred out from What journal entry would be made as goods are transferred out from one department to another department? From the final department to the warehouse? What journal entry would be made as goods are transferred out from What journal entry would be made as goods are transferred out from one department to another department? From the final department to the warehouse? Discuss. What journal entry would be made as goods are transferred out from What journal entry would be made as goods are transferred out from one department to another department? From the final department to the warehouse? On June 4, Seller Company signed a sales agreement with Buyer Company On June 4, Seller Company signed a sales agreement with Buyer Company to deliver and install a…… … Using the customer consideration model, make the journal entry necessary on the date the sales agreement is signed. Assume that Buyer Company paid all of the $300,000 in cash when the agreement… Raj Kothare funded an irrevocable simple trust in May of last year. Raj Kothare funded an irrevocable simple trust in May of last year. The trust benefits Raj’s son for life and grandson upon the son’s death. One of the assets he transferred to the trust was Webbco stock, which had a $35,000 FMV on the transfer date. Raj’s basis in the stock was $39,000, and he paid no gift tax on the transfer. The stock’s value has dropped to $27,000, and the trustee thinks that now (October of the current year) might be the time to sell the stock and recognize the loss. For the current year, the trust will have $20,000 of income exclusive of any gain or loss. What tax and non-tax issues should the trustee consider concerning the possible sale of the stock? What is a query execution plan? What is a query execution plan? Velocity profiles and the stress components ?ij. For each of the following Velocity profiles and the stress components ?ij. For each of the following velocity…… … vx = by, vy = 0, vz = 0 (b) vx = by, vy = bx, vz = 0 (c) vx = -by, vy = bx, vz = 0 (d) vx = – ½bx, vy = – ½by, vz = Write a program in MATLAB to solve the following nonlinear equation by Write a program in MATLAB to solve the following nonlinear equation by using bisection method. (Explain the solution method). x^(b) – b*exp(a*x)=0 -2 If AFLAC wants to forecast the demand for supplemental health and life If AFLAC wants to forecast the demand for supplemental health and life insurance, what type of research design should be adopted and why? Shady town, U.S.A. has been plagued with a recent crime wave and Shady town, U.S.A. has been plagued with a recent crime wave and it is well known to all the…… … wallet and the electronic chips he was delivering. Discuss what, if any, tort liability BUGusa Inc. may have to the vendor and to the BUGusa Inc. employees that were attacked. What defences may be… Identify the Big Five personality traits. For each of the five, give Identify the Big Five personality traits. For each of the five, give at least one example of how an individual trait could influence how a person performs a job. Then tell how understanding these traits can help individuals be better managers. Suppose you purchase 5,000 shares of a closed-end mutual fund at its Suppose you purchase 5,000 shares of a closed-end mutual fund at its initial public offering; the…… … The offering prospectus discloses that the fund promoter gets an 8 percent fee from the offering. If this fund sells at a 12 percent discount to NAV the day after the initial public offering,… Biotechtron, Inc., has two research laboratories in the Midwest, one in Tulsa, Biotechtron, Inc., has two research laboratories in the Midwest, one in Tulsa, Oklahoma, and one…… … to Ames. Determine the amount of the legal services center’s costs that should be allocated to each office. Explain the purposes of this allocation.4. Did the costs allocated differ from the… Early in September 1983, it took 245 Japanese yen to equal $1. Early in September 1983, it took 245 Japanese yen to equal $1. More than 20 years later that…… … Has the price, in dollars, of the automobile increased or decreased during the 20-year period because of changes in the exchange rate? b. What would the dollar price of the car be, assuming the… On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following $39,750…… … used was $1,000.Instructions1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: 2. Prepare an income statement for… The adjusted trial balance of Parsons Company at December 31, 2014, includes The adjusted trial balance of Parsons Company at December 31, 2014, includes the following…… … December 31, 2014, includes the following accounts: Owner’s Capital $15,600, Owner’s Drawings $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent… A closed-end investment company is currently selling for $10 and its net A closed-end investment company is currently selling for $10 and its net asset value is $10.63……. … the year, you sell the shares for $12.03. At the time of the sale, net asset value is $13.52. What percentage return do you earn on the investment? What role does the net asset value play in…