Answer:
$196,000
Explanation:
Calculation to determine how much will buyers be willing to pay for a house
Amount willing to pay=(0.80)($200,000) + (0.20)($180,000)
Amount willing to pay=$160,000+$36,000
Amount willing to pay=$196,000
Therefore The amount that the buyers will be willing to pay for a house is $196,000
a business that is making a profit is said to be
Answer: the answer is “in the black” i just did this test
Explanation:
Western Electric has 32,500 shares of common stock outstanding at a price per share of $80 and a rate of return of 12.95 percent. The firm has 7,350 shares of 7.90 percent preferred stock outstanding at a price of $95.50 per share. The preferred stock has a par value of $100. The outstanding debt has a total face value of $407,000 and currently sells for 111.5 percent of face. The yield to maturity on the debt is 8.11 percent. What is the firm's weighted average cost of capital if the tax rate is 40 percent
Answer:
c. 11.10%
Explanation:
Options are "a. 10.29% b. 10.51% c. 11.10% d. 10.72% e. 11.49%"
Market Value of Equity = $80 * 32,500
Market Value of Equity = $2,600,000
Market Value of Preferred Stock = $95.50 * 7350
Market Value of Preferred Stock = $701,925
Market Value of Debt = $407,000 * 1.115
Market Value of Debt = $453,805
Total Market Value = Market Value of Equity + Market Value of Preferred Stock + Market Value of Debt
Total Market Value = $2,600,000 + $701,925 + $453,805
Total Market Value = $3,755,730
kP = Annual Dividend / Current Market Price
kP = $7.90 / $95.50
kP = 0.082723
kP = 8.27%
WACC = [wD * kD * (1 - t)] + [wP * kP] + [wE * kE]
WACC = [(453,805/3,755,730) * 8.11% * (1 - 0.40)] + [(701,925/3,755,730) * 8.27%] + [(2,600,000/3,755,730) * 12.95%]
WACC = 0.59% + 1.55% + 8.96%
WACC = 11.10%
Rauch Incorporated leases a piece of equipment to Donahue Corporation on January 1, 2017. The lease agreement called for annual rental payments of $4,892 at the beginning of each year of the 4-year lease. The equipment has an economic useful life of 6 years, a fair value of $25,000, a book value of $20,000, and both parties expect a residual value of $8,250 at the end of the lease term, though this amount is not guaran- teed. Rauch set the lease payments with the intent of earning a 5% return, and Donahue is aware of this rate. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature.
Instructions:
(a) Explain (and show calculations) how Rauch arrived at the amount of the rental payments used in the lease agreement.
(b) Prepare the entries for Rauch for 2017.
(c) Suppose that instead of $8,250, Rauch expects the residual value at the end of the lease to be $5,000, but Donahue agrees to guarantee a residual value of $8,250. All other facts being equal, how would Rauch change the amount of the annual rental payments, if at all?
(d) Explain how a fully guaranteed residual value by Donahue would change the accounting for Rauch, the lessor.
(e) Explain how a bargain renewal option for one extra year at the end of the lease term would change the accounting of the lease for Rauch, the lessor.
Answer:
87 because he
Explanation: add then multiply;
Pharoah Company had the following transactions during 2022: 1. Issued $355000 of par value common stock for cash. 2. Recorded and paid wages expense of $170400. 3. Acquired land by issuing common stock of par value $142000. 4. Declared and paid a cash dividend of $28400. 5. Sold a long-term investment (cost $8520) for cash of $8520. 6. Recorded cash sales of $1136000. 7. Bought inventory for cash of $454400. 8. Acquired an investment in Zynga stock for cash of $59640. 9. Converted bonds payable to common stock in the amount of $1420000. 10. Repaid a 6-year note payable in the amount of $624800. What is the net cash provided by financing activities?
Answer:
Net cash used by financing activities -$298,200
Explanation:
The computation of the net cash provided by financing activities is shown below:
Cash flow from the financing activities
Issue of common stock $355,000
Repayment of note payable -$624,800
Cash dividend paid -$28,400
Net cash used by financing activities -$298,200
Here only issuance of the common stock would be added rest would be deducted
Because this non-profit has only 60 employees there is not a HR person on staff. The payroll is outsourced and the administrative assistant to the executive director has handled all other HR-related issues. Although the employer requirements of the Affordable Care Act (ACA) for employers with 50-99 the new Executive Director will need to evaluate current health insurance coverage policies and determine what changes need to be made in order to comply with the employer mandate. What are the key things the new Director needs to review
Answer:
Permanent and contractual employeesUnder the permanent employees the director should sort out the employees with dependents and the ones that do not have dependents that way he will be able to establish a proper ACA coverage of the employees and extend ACA benefits to their dependentsHe should seek feedback from employees on the existing ACA coverageExplanation:
Under the Affordable Care Act ( ACA ) for employers with 50 - 99 employees
The New executive director will have to review
Permanent and contractual employeesUnder the permanent employees the director should sort out the employees with dependents and the ones that do not have dependents that way he will be able to establish a proper ACA coverage of the employees and extend ACA benefits to their dependentsHe should seek feedback from employees on the existing ACA coveragewith this The New executive director will have a successful review and it will help him implement the necessary changes required.
You have been working as a security analyst in the information security department at Aim Higher College for two months. Your manager asks you to propose a set of controls that will allow the use of the research datacenter for its intended purpose while protecting the business systems that reside there. What controls would you suggest, and why
Answer: Hello some parts of your question is missing below is the missing part
Aim Higher College has two primary datacenters on campus—the research datacenter and the business datacenter. Due to budget and space limitations, the research datacenter is also used to house the backup systems for the business datacenter, resulting in business data being stored in both locations.
The research datacenter, shown in the diagram below, is typically left unlocked, as many students and faculty members use it for their work. The network infrastructure is not monitored, and the systems themselves are not required to be secured.
Recently, signs of after-hours access have been found in the research datacenter. Doors have been left open, lights have been on, and logins have been found on research systems. Logs indicate that local logins have been attempted on the business system consoles as well.
answer :
i) physical protection
ii) Continuous password review
Explanation:
The controls that I would suggest are
i) Physical protection : There should be an increased presence of physical security in and around the premises of the Datacenter in order to reduce un-authorized access
ii) continuous review/change of passwords to limit/avoid signs during after- hours and also prevent Local logins as well.
Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2020 drove a total of 24,800 business miles. Information regarding his car expenses is listed below. Business parking $ 300 Auto insurance 3,000 Auto club dues (includes towing service) 360 Toll road charges (business-related) 450 Oil changes and engine tune-ups 480 Repairs 330 Depreciation allowable 6,000 Fines for traffic violations (incurred during business use) 600 Gasoline purchases 6,600 What is Jackson's deduction in 2020 for the use of his car if he uses: If required, round your answers to nearest dollar.
Answer:
300+3000+360+450+480+330+600+6600 =12120
12120 x 6000 ÷ 100 = 727 200
Explanation:
Add all expenses but leave out the 6,000 because it's Depreciation.
On January 1, 2021, Cori Ander Herbs granted restricted stock units (RSUs) representing 300,000 of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $14 per share on the grant date. At the date of grant, the company anticipated that 4% of the recipients would leave the firm prior to vesting. In 2022, 3% of the options are forfeited due to executive turnover. The company chooses the option not to estimate forfeitures. What amount should the company record as compensation expense for the year ended December 31, 2022
Answer: $1,288,000
Explanation:
The amount should the company record as compensation expense for the year ended December 31, 2022 will be calculated thus
Number of RSUs = 300,000
Market price of shares = $14
Term of RSUs = 3 years
The compensation expense for year 1 which is 2021 will be:
= [(300,000 × $14) × 1 / 3] - $0
= $1,400,000
The compensation expense for year 2 which is 2022 will be:
= [(288,000 × $14) * 2 / 3] - $1,400,000
= $2,688,000 - $1,400,000
= $1,288,000
Therefore, the amount should the company record as compensation expense for the year ended December 31, 2022 will be $1,288,000
Note that the number of RSUs in 2022 was calculated as:
= 300,000 × (100% - 4%)
= 300,000 × 96%
= 288,000
Break-Even Point Sheridan Inc. sells a product for $66 per unit. The variable cost is $30 per unit, while fixed costs are $326,592. Determine (a) the break-even point in sales units and (b) the break-even point if the selling price were increased to $72 per unit. a. Break-even point in sales units fill in the blank 1 units b. Break-even point if the selling price were increased to $72 per unit fill in the blank 2 units
Answer:
a.
Break even in units = 9072 units
b.
Break even in units = 7776 units
Explanation:
a.
The break even point is a point where total revenue equals total cost. The break even point in sales units can be calculated as follows,
Break even in units = Fixed Cost / (Selling price per unit - Variable cost per unit)
Break even in units = 326592 / (66 - 30)
Break even in units = 9072 units
b.
If the selling price increases, the new break even point will be,
Break even in units = 326592 / (72 - 30)
Break even in units = 7776 units
Computo began business on June 1, 2019. The corporate charter authorized issuance of 1,000 shares of no-par common stock and 4,000 shares of $6 par, 6% cumulative preferred stock. As of the beginning of 2020, 200 shares of common stock had been issued and none of the preferred stock had been issued. If the company issues 400 shares of common stock on March 1, 2020 for $10 per share, the journal entry would include a
Answer:
d. $4,000 credit to common stock
Explanation:
The journal entry is shown below:
Since the company issued 400 shares for $10 per share
So, the journal entry is
Cash Dr $4,000
To common stock $4,000
(Being the issuance of the common stock is recorded)
here the cash is debited as it increased the assets and credited the common stock as it also increased the equity account
Consider a call option on an asset with an exercise price of $100, a put option on that same asset with an exercise price of $100, both expiring at the same time. Assume that at the expiration, the current market price of the asset is each of the following two values. Explain what happens from the perspective of the long position for each of the two options.
Answer: The values are missing below are the values
a. $105
b. $95
answer :
a) $5
b) -$5 ( loss )
Explanation:
From the perspective of the long position for each of the two options upon expiration
a) For $105
for the long position ( long call ) since the expired price > than the exercise price
i.e. $105 > $100 the profit = $105 - $100 = $5
b) For $95
For the long position ( long call ) since the expired price < than the exercise price
i.e. $95 < $100 the profit = $95 - $100 = - $5 ( a loss is incurred )
The contemporary operations are relying more and more on advanced technology in order to maintain competitive in the market. For each of the following service industries, describe one technology application/ system and the benefit of adopting such
a. Fast Food
b. Hospital
c. Airport/ Airlines
d. Education
e. Warehousing
Answer:
A- Fast Food --- Delivery apps such as Uber Eats. These applications allow people to purchase food without showing up at the fast food outlet, which allows consumers to save time, for example, if they need to eat during working hours.
B- Hospital --- Online medical appointment system. It allows patients to coordinate medical appointments through the internet through a single system, avoiding the crowding of people in hospitals.
C- Airport/Airlines --- Offers search applications. They make the person who wants to buy a plane ticket get it at the best available price.
D- Education --- Distance online universities. They guarantee higher education for people who live in areas far from the urban centers where the universities are located.
E- Warehousing --- Online shopping applications such as Amazon. They allow consumers to purchase warehouse products online.
The high premiums paid to LBO target shareholders reflect the tax benefits associated with the high leverage of such transactions and the improved operating efficiency
a. True
b. False
Answer:
false
Explanation:
Leveraged buyout is when a distressed company is acquired using a high level of debt. the high premiums paid is as a result of the high riskiness associated with leveraged buyouts.
Some of the reasons for conducting a leveraged buyout includes :
to turn a public company privateto conduct a change of ownership to spin off a portion of the companyA company's total expected overhead for the year is $500,000. Two activity cost pools have been identified: Customer Service with a total cost of $200,000 and a total activity of 25,000 customer service calls; and Product Development with a total cost of $300,000 and total activity of 20,000 development hours. Using activity-based costing, calculate the appropriate activity rate
Answer:
Customer Service= $8 per call
Product Development= $15 per develop hour
Explanation:
Giving the following information:
Customer Service with a total cost of $200,000 and a total activity of 25,000 customer service calls.
Product Development with a total cost of $300,000 and a total activity of 20,000 development hours.
To calculate the activities rates, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Customer Service= 200,000 / 25,000= $8 per call
Product Development= 300,000 / 20,000= $15 per develop hour
BBonita Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.
Budgeted Actual
Overhead cost $1,333,200 $1,307,200
Machine hours 56,300 49,000
Direct labor hours 101,000 97,800
Overhead is applied on the basis of direct labor hours. Compute the predetermined overhead rate.
Answer:
$23.68 per machine hour
Explanation:
Given the above information, the predetermined overhead rate is computed as
= Budgeted overhead cost / Estimated number of machine hours
Budgeted overhead cost = $1,333,200
Estimated number of machine hours = 56,300
Therefore,
Predetermined overhead rate
= $1,333,200 / 56,300
Predetermined overhead rate= $23.68 per machine hour
Blue Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for long-term construction contracts during 2021. For tax purposes, the company employs the completed-contract method and will continue this approach in the future. (Hint: Adjust all tax consequences through the Deferred Tax Liability account). The appropriate information related to this change is as follows.
Pretax Income from:
Percentage-of-Completion Completed-Contract Difference
2014 $752,200 $586,700 $165,500
2015 683,500 444,700 238,800
(a) Assuming that the tax rate is 30%, what is the amount of net income that would be reported in 2015?
(b) What entry(ies) are necessary to adjust the accounting records for the change in accounting principle?
Answer:
a. Particulars Amount
Pre-tax income for 2015 $683,500
Less: Income tax expenses $205,050 ($683,500*30%)
Net Income for 2015 $478,450
b. Deferred tax liability = Temporary difference * Tax rate
= $165,500*30%
= $49,650
Income tax expense = Construction in process - Deferred tax liability
= $165,500 - $49,650
= $115,850
Date Account titles and Explanation Debit Credit
2015 Construction in progress $165,500
Deferred tax liability $49,650
Retained earnings $115,850
(To record deferred tax liability and retained earnings for 2015)
what is a sole parternership?
A sole partnership is a type of business structure in which a single individual owns and operates a business. The sole proprietor is personally responsible for all aspects of the business, including making decisions, managing operations, and assuming liability for any debts or legal issues that may arise.
In a sole partnership, the owner has complete control over the business and makes all the decisions. There is no legal separation between the owner and the business, so the owner is personally liable for any debts or legal issues that may arise. This means that the owner's personal assets, such as a home or savings, are at risk if the business is sued or incurs debts that it cannot pay.
Sole partnerships are relatively easy to set up and operate, as they do not require any formal registration or compliance with complex legal requirements. However, they may not be the best choice for businesses that are seeking to raise capital or that are at risk for significant liability.
Hope This Helps You!
15 points and brainliest!!! Please help... Suzanne is an archaeologist working on the uncovered site of an old
Viking community. What kind of education would Suzanne have
needed to work on this site?
an associate degree in mathematics
an apprenticeship with a blacksmith
a master's degree in anthropology
an internship with a local construction firm
Answer:
A Master's Degree In Anthropology
What is the aTeri West operates her own catering service. Summary financial data for July are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the equation. Each increase and decrease in owner's equity, except transaction (5), affects net income.
Assets = Liabilities + Owner's Equity
Cash + Supplies + Land = Accounts Payable + Teri West, Capital - Teri West, Drawing + Fees Earned - Expenses
Bal. 40,000 3,000 82,000 7,500 117,500
1. +71,800 +71,800
2. -15,000 +15,000
3. -47,500 -47,500
4. +1,100 +1,100
5. -5,000 -5,000
6. -4,000 -4,000
7. -1,500 -1,500
Bal. 40,300 2,600 97,000 4,600 117,500 -5,000 71,800 -49,000
mount of the net income for the month?
What is the amount of the net increase in cash during the month?
$fill in the blank 8
300
c. What is the amount of the net increase in owner's equity during the month?
$fill in the blank 9
17,800
d. What is the amount of the net income for the month?
$fill in the blank 10
e. How much of the net income for the month was retained in the business?
$fill in the blank 11
a. The amount of the net income for the month is -49,000.
b. The amount of the net increase in cash during the month is 300.
c. The amount of the net increase in owner's equity during the month is 17,800.
d. The amount of the net income for the month is -49,000.
e. The amount of net income retained in the business is -5,000.
What is net income?Net income is a company's total revenue minus all expenses, including taxes and interest. It is also known as net profit or the bottom line. It is the amount of money a company has left over after all expenses have been paid, and it is considered an important indicator of a company's financial health.
Therefore, the correct answers are as given above
learn more about net income: https://brainly.com/question/28390284
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Which one of the following is not a factor that changes a company’s pension obligation during the year.
A) Interest cost
B) Actuarial losses (gains)
C) Benefits paid
D) Service cost
E) Contributions to the pension plan
Answer: E. Contributions to the pension plan
Explanation:
Pension obligation simply refers to how the future expenses that's associated with a pension plan will have to be measured.
Some of the factors that changes a company’s pension obligation during the year are the interest cost, actuarial losses (gains), benefits paid and the service cost.
It should be noted that the contributions to the pension plan doesn't changes a company’s pension obligation during the year.
Therefore, the answer is E.
Because bottled water is widely considered to be a purer choice then tap water, bottled water has become a billion-dollar-a-year business in the United states. Millions of consumers use bottled water as their primary source of drinking water. Although most bottled water is of good quality some bottled water contains bacterial contaminants. Reassurances from the water industries executives that bottled water is totally safe may be false.
Answer:
This question requires finding errors in the text. The full text is attached.
I will type the corrected sentences only and underline the corrections.
Millions of consumers use bottled water as their primary source of drinking water.
Reassurances from the water industry's executives that bottled water is totally safe may be false.
Commissioned by the National Resource's Defense Commission, (the comma is the correction)this report analyzes...
Bottled water contaminated with microbes may raise public health issues, and today's consumers are rightfully concerned. In spite
There are government bottled water regulations and programs that have serious deficiencies.
In spite of the fact that voluntary bottled water industry controls are commendable, (this should be a comma not a full stop) they are an inadequate substitute for strong government rules.
However, (comma)the long term solution to drinking water problems is to fix tap water rather than switching to bottled water.
Based on our tests and analysis we submit the following recommendations.
2. Establish the public's right to know about the contents of bottled water.
3. Require FDA inspections of all bottling facilities and their water sources.
If you want to buy a $245,000 house with a 15% down payment, how much will you be borrowing from the bank? If the interest you will pay is $210,000 total, how much total (interest and principal) will you pay on the borrowed money over the 30 years of your mortgage?
Answer:
Explanation:
year and any subsequent word will have to be ignored because we limit queries to 32 words.
For a home price of $250,000 the minimum down payment would be $8,750.
what should you do in case you know well the subject discussed
Answer:
learn and listen every single word of class
You are in the process of deciding whether or not to launch a new product. In year 3 of your analysis you project pro forma sales of $4,000,000 and cost of goods sold of $3,800,000. You will be depreciating a $300,000 machine for 5 years using straight-line depreciation. Your tax rate is 27%. Finally, you expect working capital to change from $220,000 in year 2 to 320,000 in year 3. What is your pro forma free cash flow for year 3
Answer:
net cash flow $62,200
Explanation:
The computation of the pro forma free cash flow for the year 3 is given below:
Pro forma sales $4,000,000
less cost of goods sold -$3,800,000
Profit before tax and depreciation $200,000
less Depreciation ($300,000 ÷ 5) $60,000
Profit before tax $140,000
less tax at 27% -$38,700
Profit after tax $102,200
add Depreciation $60,000
less change in working capital ($320,000 - $220,000) -$100,000
net cash flow $62,200
has Government intervention harmed or supported businesses more during the shelter-in-place?
Answer:
During the shelter-in-place, governments took various economic and financial measures aimed at improving the situation of people and companies that were unable to carry out their activities as a result of the global health situation. Thus, economic aid bonds were issued, taxes were reduced, fiscal benefits and payment facilities were generated, and the development of minimum levels of activity was allowed to facilitate the subsistence of the entities of the private economy. Therefore, government action supported businesses, which would otherwise have gone bankrupt as a result of the pandemic.
The following transactions occurred during April 2021 at the Kanthere, a retailer selling headphones. For the selected transactions below, show the amount and impact (increase or decrease) on the accounting equation below. If a transaction impacts the income statement, indicate in the description column the specific income statement line item.
Transaction
1 Purchased a delivery truck for $90,000 that will be used for 4 years. The truck doesn’t have a salvage value.
2 Sold a $100 gift card to a customer for cash.
3 Paid rent for the month of $10,000.
4 Purchased 20 headphones at $30 each on account. Payment is due in 45 days.
5 Sold 4 headphones for $70 each on account.
Answer:
Assets = Liabilities + Stockholders’ Equity = -$6,500
Explanation:
Note: See the attached excel file for recording of the impact (increase or decrease) of April 2021 transactions on the accounting equation.
From the attached excel file, we can obtain the following:
Assets = Total assets = -$99,900 + $90,000 + $600 + $2,800 = -$6,500
Liabilities = Total liabilities = $600
Stockholders’ Equity = Total Stockholders’ Equity = -$7,100
Liabilities + Stockholders’ Equity = $600 - $7,100 = -$6,500
Therefore, the accounting equation holds as follows:
Assets = Liabilities + Stockholders’ Equity = -$6,500
On January 2, 2021, Tobias Company began using straight-line depreciation for a certain class of assets. In the past, the company had used double-declining-balance depreciation for these assets. As of January 2, 2021, the amount of the change in accumulated depreciation is $46,500. The appropriate tax rate is 25%. The separately reported change in 2021 earnings is: Multiple Choice An increase of $46,500. A decrease of $46,500. An increase of $34,875. None of these answer choices are correct.
Answer: None of these answer choices are correct.
Explanation:
Based on the information given, it should be noted that the separately reported change in 2021 earnings will be option D "None of these answer choices are correct".
We should note that the change in the depreciation method will be reported prospectively. Therefore isn't any separately reported change in the earnings.
Therefore, the correct option is D
what is a stock exchange listing?
Answer:
In corporate finance, a listing refers to the company's shares being on the list or bored of stock that are officially traded on a stock
Explanation:
Brady owns a second home that he rents to others. During the year, he used the second home for 50 days for personal use and for 100 days for rental use. Brady collected $20,000 of rental receipts during the year. Brady allocated $7,000 of interest expense and property taxes, $10,000 of other expenses, and $4,000 of depreciation expense to the rental use. What is Brady's net income from the property and what type and amount of expenses will he carry forward to next year, if any
Answer: $0
Explanation:
In order for a residence to be classified as a personal residence, one has to have stayed there for more than 10% of the time the property was rented out in one year.
50 days is greater than 10% of 100 days so this is classified as a residential property.
Deductions can therefore be made on rental expenses but only up until the the the amount of the rental income:
= Rental income - Interest expense - Other expenses - Depreciation
= 20,000 - 7,000 - 10,000 - 4,000
= -$1,000
Rental income will therefore be $0.
The $1,000 loss will be carried forward from Depreciation.
“Every agreement and promise enforceable at law are a contract”
There are different types of Contracts based on enforceability, formation, and performance. Explain all the types with examples.
Answer:
Explanation:
Contract:- A contract is an agreement between two or more parties. It is a written or legal agreement.
Thus for the formation of a contract, there must be-
a) an agreement
b) the agreement should be enforceable by law
All agreements are not enforceable by law and therefore, all agreements are not contracts. Some agreements are not enforceable by law.
Classification of Contracts
According to validity
Valid Contract
Illegal Contract
Void Contracts
Unenforceable Contract
According to Formation
Expressive Contract
Implied Contract
Quasi Contract
E-Contract
According to Performance
Executed Contract
Executory Contract
Unilateral Contract
Bilateral Contract
Valid Contract - Enforceable by a court of law
Void Contract - Not enforceable by a court of law
Illegal Contract - Void and forbidden by law
Unenforceable contract - Not enforceable by a court of law due to some technical error in the contract.
Express Contract - The contract is expressed through words whether oral or written
Implied Contract - When a contract is created by action or implication of law
Quasi Contract - The contract is expressed through words whether oral or written
E- contract - The contract is expressed through words whether oral or written.
Executed Contract - Performance did on part of all parties
Executory Contract - Performance is pending by one or more parties
Bilateral Contract - Performance is pending by both parties
Unilateral Contract - Performance is pending by one party