The Legal Environment of Business: Text and Cases
10th Edition
ISBN: 9781337535878
Author: Frank B. Cross; Roger LeRoy Miller
Publisher: Cengage Learning US
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Chapter 19, Problem 3BCP
Summary Introduction
Case summary: Person TH, along with his wife, entered into a contract with T, the representative of firm H for the renovation of their house. When a contractual dispute arose, firm H’s name came out to be imaginary. Person TH sued person T for non-disclosure of full information and a breach of contract.
To find: The personal liability of T.
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During the year, Kiner Company made an entry to write off a $9,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $315,000 and the balance in the allowance account was $27,000. The net realizable value of accounts receivable after the write-off entry was: A. $200,000. B. $184,000. C. $176,000. D. $288,000. answer
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The Legal Environment of Business: Text and Cases
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