On June 15. Peters orally offered to sell a used lawn mower to Mason for 5125. Peters specified that Mason had until June
20 to accept the offer. On June 16, Peters received an offer to purchase the lawn mower for 5150 from Bronson, Mason’s
neighbor. Peters accepted Bronson‘s offer. On June 17, Mason saw Bronson using the lawn mower and was told the
mower had been sold to Bronson. Mason immediately wrote to Peters to accept the June 15 offer. Which of the following
statements is correct?

a. Mason’s acceptance would be effective when received by Peters.

b. Mason‘s acceptance would be effective when mailed.

c. Peters’s offer had been revoked and Mason's acceptance was ineffective.

d. Peters was obligated to keep the June 15 offer open until June 20. (Law, #13. 3095)

The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor. required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)

On january 2, 2018, bering co. disposes of a machine costing $34,100 with accumulated depreciation of $18,369. prepare the entries to record the disposal under each of the following separate assumptions. exercise 8-24a part 2 2. the machine is traded in for a newer machine having a $50,600 cash price. a $16,238 trade-in allowance is received, and the balance is paid in cash. assume the asset exchange has commercial substance.