Replace Calculations in the Sales Contract and eSign it in minutes

Aug 6th, 2022
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How to Replace Calculations in the Sales Contract

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[Music] welcome to math with mr j [Music] in this video im going to cover how to calculate sales tax and then the final price with that tax included lets jump into our examples and see exactly how we do this starting with number one where we have a price of 75 dollars and then a sales tax rate of 8 percent now i do want to mention that sales tax rates vary by country and state and then there can be local taxes that are included as well this video does not cover a specific location sales tax these are general numbers being used to show how to calculate sales tax so the first thing that we want to do is to calculate how much sales tax we will be paying we do this by multiplying the price by the tax rate the tax rate is going to be in the form of a percent we want to get this percent to decimal form percent means per 100 so we divide the percent by 100 to convert it to a decimal we can do this by simply moving the decimal twice to the left so percent to decimal move the decimal twice to

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Replacement Costs Example If a company bought a machine for $1,000 five years ago, and the value of the asset today, less depreciation, is $300 dollars, then the book value of the asset is $300. However, the cost to replace that machine at current market prices may be $1,500.
A contract modification is a mutually agreed upon change to the original contract. Its changes must fall under the scope of the changes clause and leave the agreements original purpose and effect intact. When negotiating a contract, you can modify the agreement as needed so long as all parties agree.
Replacement value is a method for determining what an insurance company will pay you in case your property is stolen or destroyed. It equals the cost of replacing the property.
A contract modification that only affects the transaction price is either accounted for prospectively or on a cumulative catch-up basis. It is accounted for prospectively if the remaining goods or services are distinct. There is a cumulative catch-up if the remaining goods or services are not distinct.
What Is a Replacement Cost? Replacement cost is a term referring to the amount of money a business must currently spend to replace an essential asset like a real estate property, an investment security, a lien, or another item, with one of the same or higher value.
A contract modification is a change in the scope or price (or both) of a contract that creates new, or changes existing, rights or obligations.
Contract modification means any changes in the terms or provisions of the Contract which are reduced to writing and fully executed by both parties. Amendment means a written agreement, signed by the Parties, which documents changes to the Contract other than those permitted by Work Orders or Technical Guidance Letters.
An amendment is typically used to change something thats part of an original contract. Think of amendments as modifications to the earliest agreement (for example, altering an agreed-upon deadline). An addendum is used to clarify and add things that were not initially part of the original contract or agreement.

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