On June 3 Ralph Youngblood receives a letter from his uncle offering to sell Ralph his 1968 Corvette for $5000. On June 5 his uncle, thinking that he can probably make a better deal elsewhere, mails a letter to Ralph revoking his offer. On June 6 Ralph, hoping that a Corvette will make a big hit with his girlfriend, mails his acceptance. Ralph, having had a few too many beers, addresses the letter incorrectly and neglect to put on sufficient postage. On June 7, Ralph celebrates his 18th birthday and his parents present him with a brand new BMW. On June 8 Ralph receives the revocation. On July 12 the uncle receives the acceptance. Ralph's uncle never found a better deal for his Corvette and wants to follow through with the contract. Ralph can only afford the insurance on the BMW and wants out of the contract. You are Ralph's attorney. What advice do you give him? Discuss

Throne technical university is looking for three people to work in its plant-biology laboratory. the hiring manager is finding that the most suitable job candidates live in other countries and are not willing to move to the city where the university is located. which situation is the university facing? a. lack of flexible workforce b. surpluses in labor talent c. an appearance of quota systems d. deficits in minimum wage demands

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c. prepaidrent. onseptember1ofthecurrentyear, thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?