Question 4Merry has decided to open a Canine Café where patrons can enjoy delicious baked goods while also petting and playing with puppies that are eligible foradoption. After searching the real estate listings, Merry has found a building that she is interested in purchasing and contacts the owner of the property. OnMay 1, Owner sends an email offering to sell the building to Merry for $300,000 and says she needs a decision no later than May 30 Merry conferma inan email that she will be able to decide by that date but needs to be sure she can get the required permits from the city and a bank loan. Which statement isFALSE?O Owner can revoke the offer prior to May 30thIf Merry had paid $1,000 to Owner to keep the offer available until May 30, and Owner agreed to this term, then Owner could not revoke the offer untiMay 30th.If Merry mailed an acceptance on May 30th, she would have made a valid contract to purchase the buildingOwner cannot revoke the offer prior to the May 30 date because her email was the equivalent of having the offer in writing, making it imevocable

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Description: Question 4Merry has decided to open a Canine Café where patrons can enjoy delicious baked goods while also petting and playing with puppies that are eligible foradoption. After searching the real estate listings, Merry has found a building that she

Contract refers to the promise which is enforceable through law and it is a binding agreement among…

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Accounting

open a Canine Calé where patrons can enjoy delicious baked goo ing the real estate listings, Merry has found a building that she is an email offering to sell the building to Merry for $300.000 and sa pe able to decide by that date but needs to be sure she can get the the offer prior to May 30. 1,000 to Owner to keep the offer available unti May 30, and Ow

open a Canine Calé where patrons can enjoy delicious baked goo ing the real estate listings, Merry has found a building that she is an email offering to sell the building to Merry for $300.000 and sa pe able to decide by that date but needs to be sure she can get the the offer prior to May 30. 1,000 to Owner to keep the offer available unti May 30, and Ow

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.6DC

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QUESTION 2 - Taryn would like to open a new business as an interior designer, to funds her ambition she sold some of the following assets: 1. AntiquePaintingthatwasgiventoTarynbyherfather5yearsago.Taryn'sfatherboughtiton20August 1984 for $2,500. Taryn sold it on 1'st June 2020 for $25,000 2. Taryn sold her car (Toyota Corolla) for the amount of $12,000 on 20'th May 2020, she bought on 1'st January 2015 for the amount of $20,000 3. Taryn sold her Harry Potter's collection for the amount of $1,500 on 4'th January 2020, she bought it second hand on 10'th October 2018 for $350. 4. Taryn sold her gold necklace for $2,000 on 20'th March 2020, she bought it for $1,200 on 8'th August 2018 5. Tarynsoldasculpturefor$6,000on1January2020,sheboughtitonDecember1994for$1,500 Advise the Capital Gain Tax Consequences for the above transactions, please have a look at the matrix below on how to answer the question Capital gain tax consequences Identification of material facts on regard to each…
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