On 11 August 2020, Vanya Ho entered into a contract with Diego Toh to renovate her school, The Umbrella Learning Centre and to set up the internet system for the school’s online lessons starting in October. They agreed to the total sum of $100,000 with a 10% deposit of $10,000 to be paid on the signing of the contract. $20,0000 was to be paid upon the design being approved by Vanya Ho. The balance of $70,000 was to be paid on the completion of the renovation works. The contract provided that Diego Toh was to complete the renovation works and handover the school to Vanya Ho not later than 20 September 2020. The design was approved by Vanya Ho on 18 August 2020. Diego Toh proceeded with the renovation which was completed on 19 September 2020. Vanya inspected the renovation work on 20 September 2020. She was not pleased with the internet system when she tested the wifi connection. The wifi signals were weak and created issues for running the online lessons. Diego Toh explained that his electricians have gone back to Malaysia and would only be back early 2021. He insisted that the renovation works including the setting up of the internet system were in accordance with the design as approved by Vanya. On 21 September, Vanya Ho called an independent electrician, Klaus Soh, to inspect and advise on internet system. Klaus Soh explained that the internet system was poorly set-up. He quoted $2,000 to rectify the defects which could be completed by 25 September 2020. On 22 September, Diego Toh contacted Vanya Ho and demanded payment of the balance amount of $70,000. Vanya Ho refused to pay the balance and insisted that Diego Toh rectify the internet system by 26 September 2020.
(b) Diego Toh would like to claim the full amount of $70,000. Discuss the LEGAL PRINCIPLES concerning the performance of the contract, APPLY the legal principles, and CONCLUDE on whether Diego Toh could discharge the contract with Vanya Ho and claim the full amount of $70,000.
In: Accounting
Blossom Inc. had sales of $2,300,000 for the first quarter of
2020. In making the sales, the company incurred the following costs
and expenses.
|
Variable |
Fixed |
|||
| Cost of goods sold | $936,000 | $473,000 | ||
| Selling expenses | 119,000 | 71,000 | ||
| Administrative expenses | 116,000 | 120,000 |
Prepare a CVP income statement for the quarter ended March 31,
2020.
In: Accounting
In: Accounting
In 2020, Raoul & Ayesha , married filing joint taxpayers, have adjusted gross income of $430,000. Their AGI includes $10,000 of interest income. They have no dependents and have $50,000 of itemize deductions. What is their 2020 federal income tax? (PLEASE SHOW ALL WORK)
A) $83,631
B) $83,829
C) $89,212
D) $89,404
In: Accounting
Eric Dishman states that healthcare needs to shift from the mainframe to personalized medicine. Is he correct? Is this happening? What are the barriers? Will technology help? Is it affordable?
In: Nursing
As a management accountant, what advice and recommendation would you give to the management team if they are in the midst of considering digital and technology adoption in the shoes manufacturing system?
In: Accounting
After the plaque output and capital/worker went up, explain with the graph how the increase in technology helped with the increase in capital and output per worker
In: Economics
11. Explain how the Patient Protection and Affordable Care Act (PPACA) promotes the adoption of technology to improve the quality of care Please provide references
In: Nursing
Identify at least three criteria that might be used to select a manufacturing firm as a potential acquisition candidate. A financial services firm? A high-technology firm?
In: Finance
What is veterans affairs doing to address the rising cost of health care to veterans and to the US gov’t for veterans?
COURSE: Information Technology for the Health Professions
In: Nursing