Answer:
150000
Explanation:
The question says that Harry received a fair market value = 450000 dollars
Meanwhile he transferred 650000 dollars of assets
Fair value of assets = 650000 - 200000 = 450000
Harry's adjusted basis = 350000
Therefore the share received will be:
350,000 - 200,000
= 150,000 dollars.
Harry's basis in the stock received from the corporation is $150,000.
Thank you!
_________ can give every business access to an agile workforce that is not only better suited to solving some of the problems that organizations struggle with today but in many cases will do it for free.
Complete Question:
_________ can give every business access to an agile workforce that is not only better suited to solving some of the problems that organizations struggle with today but in many cases will do it for free.
Group of answer choices
a. Crowdsourcing
b. LinkedIn
c. Social recruiting
d. Brainstorming
Answer:
a. Crowdsourcing.
Explanation:
Crowdsourcing can be defined as a process of gathering information, ideas, micro-tasks, goods and services, finances, and votes into a project or organizational task from a large group of fast growing participants, either paid or unpaid mostly through the internet. These group of participants are saddled with the responsibility of creating value by contributing significantly to an organization typically over the internet.
Crowdsourcing can give every business access to an agile workforce that is not only better suited to solving some of the problems that organizations struggle with today but in many cases will do it for free.
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An outside supplier has offered to sell one type of carburetor to Troy Engines, Ltd., for a cost of $35 per unit. To evaluate this offer, Troy Engines, Ltd., has gathered the following information relating to its own cost of producing the carburetor internally: Per Unit 15,000 Units per Year Direct materials $ 14 $ 210,000 Direct labor 10 150,000 Variable manufacturing overhead 3 45,000 Fixed manufacturing overhead, traceable 6 * 90,000 Fixed manufacturing overhead, allocated 9 135,000 Total cost $ 42 $ 630,000 *One-third supervisory salaries; two-thirds depreciation of special equipment (no resale value). Required: 1. Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside su'
Answer:
financial disadvantage = $435,000 - $525,000 = ($90,000)
Explanation:
outside vendor offer: cost per unit $35 x 15,000 = $525,000
production costs:
direct materials $14 x 15,000 = $210,000 direct labor $10 x 15,000 = $150,000 variable manufacturing overhead $3 x 15,000 = $45,000 fixed manufacturing overhead, traceable $6 x 15,000 = $90,000 ($60,000 are non-avoidable) fixed manufacturing overhead, allocated $9 x 15,000 = $135,000 (all are non-avoidable) total cost $42 x 15,000 = $630,000avoidable production costs = $435,000
financial disadvantage = avoidable costs - cost to purchase carburetors from outside vendor = $435,000 - $525,000 = ($90,000)
An increase in input prices causes:___________
a) the market supply to shift inward, driving the equilibrium price downward.
b) the market supply to shift outward, leading to a higher equilibrium price.
c) the market supply to shift inward, driving the equilibrium price higher.
d) the supply curve to decrease and the demand curve to decrease.
Answer: the market supply to shift inward, driving the equilibrium price higher.
Explanation:
An increase in input prices will result into a rise in the production costs. This will result in a leftward shift of the supply curve.
Therefore, the market supply will shift inward, driving the equilibrium price higher. This simply means that there will be lesser supply of the product and hence, increase in price.
Long-Term Solvency Ratios Summary data from year-end financial statements of Palm Springs Company for 2017 follow.
Summary Income Statement Data
Sales $11,692,900
Cost of goods sold 5,135,000
Selling expenses 938,000
Administrative expenses 780,000
Interest expense 2,210,000
Income tax expense 905,000 9,968,000
Net income $1,724,900
Summary Balance Sheet Data
Cash $117,000
Total liabilities $900,000
Noncash assets 1,183,000
Stockholders' equity 400,000
Total assets $1,300,000
Total liabilities and equity $1,300,000
Round answers to two decimal places.
a. Compute the ratio of times-interest-earned.
b. Compute the debt-to-equity ratio.
Answer:
a. Compute the ratio of times-interest-earned.
times-interest-earned = EBIT / interest expense
EBIT = $4,839,900interest expense = $2,210,000times-interest-earned = $4,839,900 / $2,210,000 = 2.19
b. Compute the debt-to-equity ratio.
debt-to-equity ratio = total liabilities / total stockholders' equity
total liabilities = $900,000total stockholders' equity = $400,000debt-to-equity ratio = $900,000 / $400,000 = 2.25
Widgeon Co. manufactures three products: Bales, Tales, and Wales. The selling prices are $55, $78, and $32, respectively. The variable costs for each product are $20, $50, and $15, respectively. Each product must go through the same processing in a machine that is limited to 2,000 hours per month. Bales take 5 hours to process; Tales, 7 hours; and Wales 1 hour. Assuming that Widgeon Co. can sell all of the products it can make, what is the maximum contribution margin it can earn per month
Answer:
$3,400
Explanation:
Particulars Bales Tales Wales
Selling price 55 78 32
- Variable costs 20 50 15
Contribution margin 35 28 17
Required hours to process 5 hrs 7 hrs 1 hrs
Contribution margin per hours 7 4 17
Therefore, Widgeon Co. will earn maximum contribution only if it uses all its machine hours for production of wales
Maximum contribution margin = Contribution margin per hour * Number of machine hours
Maximum contribution margin = 17 * 2,000 hours
Maximum contribution margin = $3,400
Assuming that Widgeon Co. can sell all of the products it can make, the maximum contribution margin it can earn per month is $3,400. The difference between the sales price and the variable cost is the contribution margin.
A contribution margin calculates a product's profitability during production. The contribution margin of a business indicates how much income is left over after variable expenditures like raw materials and transportation are subtracted.
A product must have a higher leftover income after variable costs than the business' fixed expenses, such as salaries and insurance, in order to be profitable.
Particulars Bales Tales Wales
Selling price 55 78 32
Less: Variable costs 20 50 15
Contribution margin 35 28 17
Required hours to process 5 hours 7 hours 1 hours
Contribution margin per hours 7 4 17
Widgeon Company will earn maximum contribution only if it uses all its machine hours for production of wales
Maximum contribution margin will be
= Contribution margin per hour × Number of machine hours
= $17× 2,000 hours
= $3,400
Therefore, $3400 is the maximum contribution margin for Widgeon Company.
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Assume that interest rates on 20-year Treasury and 20-year corporate bonds are as follows T-bond = 3.72% AAA = 4.12% A = 4.64% BB = 5.18% The differences in these rates were probably caused primarily by:
Answer: Default risk differences.
Explanation:
The Default risk is the inherent risk a lender faces that a borrower will not pay them back the debt they want to borrow. The lender will therefore charger a high return to cater for this risk. The higher the risk, the higher the return charged.
T-bonds have no default risk because they are guaranteed by the US Government which is why it's rate is the lowest. For the other bonds, there is something called a Credit rating. Bonds are usually rated on how risky it will be to lend to the company borrowing with AAA being of the lowest risk. Therefore as one goes up from AAA, the bonds will have higher default risks.
"A customer opens a margin account by purchasing 300 shares of XYZ stock at $80 per share and deposits the required margin. If the stock declines in value by 25%, the customer's equity in the account will:"
Answer:
Equity will increased by 50%
Explanation:
Given:
Number of stock = 300
Per share value = $80
Stock value decline = 25%
Find:
Customer's equity will ?
Computation:
Market value = 300 × $80 = $24,000
New market value = $24000 × (100% - 25%) = $18,000
Margin = $24000 × 50% = $12,000
Credit balance = $24,000 (100% / 75%)
Credit balance = $24,000 + $12,000
Credit balance = $36,000
Equity % = [Credit balance - New market value / Credit balance]100
Equity % = [($36,000 - $18,000) / $18,000]100
Equity will increased by 50%
The total factory overhead for Bardot Marine Company is budgeted for the year at $1,038,750, divided into two departments: Fabrication, $645,000, and Assembly, $393,750. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require four direct labor hours in Fabrication and three direct labor hours in Assembly. The bass boats require two direct labor hours in Fabrication and four direct labor hours in Assembly. Each product is budgeted for 5,000 units of production for the year.
When required, round all per unit answers to the nearest cent.
a. Determine the total number of budgeted direct labor hours for the year in each department.
Fabrication direct labor hours
Assembly direct labor hours
b. Determine the departmental factory overhead rates for both departments.
Fabrication $ per dlh
Assembly $ per dlh
c. Determine the factory overhead allocated per unit for each product using the department factory overhead allocation rates.
Speedboat: $ per unit
Bass boat: $ per unit
Answer:
Instructions are below.
Explanation:
Giving the following information:
Fabrication, $645,000
Assembly, $393,750.
Speedboats:
Fabrication Direct labor hours= 4
Assembly Direct labor hours= 3
Bassboats:
Fabrication Direct labor hours= 2
Assembly Direct labor hours= 4
Each product is budgeted for 5,000 units of production for the year.
First, we need to calculate the budgeted direct labor hours:
Fabrication= 4*5,000 + 2*5,000= 30,000
Assembly= 3*5,000 + 4*5,000= 35,000
Now, we can determine the predetermined overhead rate using the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Fabrication= 645,000/30,000= $21.5 per direct labor hour
Assembly= 393,750/35,000= $11.25 per direct labor hour
Finally, we can allocate overhead to each product:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Speedboat= 4*21.5 + 3*11.25= $119.75
Bassboat= 2*21.5 + 4*11.25= $88
A random selection from a deck of cards selects
one card. What is the probability of selecting a spade?
0.050
Correct Answer
0.250
0.077
You Answered
0.025
Answer: 0.250
Explanation:
There are 52 cards in a deck of cards. Out of this there are 13 Spades. The probability of picking a spade at random is therefore;
= 13/52
= 0.250
A one-year insurance policy was purchased on June 1 for $2,400. The adjusting entry on December 31 would be:
Answer:
Adjusting Journal Entry:
Debit Insurance Expense $1,400
Credit Prepaid Insurance $1,400
To record the insurance expense for the year (7 months).
Explanation:
This adjustment will cause the Prepaid Insurance account to remain $1,000. This balance represents the insurance cost for 5 months having deducted the insurance cost for 7 months from June 1 to December 31. So, in line with the accrual concept and the matching principle of generally accepted accounting principles, only $1,400 Insurance was incurred for the current year. The balance will be charged to the account when the service is consumed.
Three months ago, you purchased a stock for $54.14. The stock is currently priced at $57.36. What is the EAR on your investment?
Answer:
The EAR on the investment is 23.79%
Explanation:
Here, we are concerned with calculating the EAR on the stock investment.
Firstly, we start with calculating the return on shares
Mathematically, that is; P1 - P0
From the question P1 = $57.36 while P0 = $54.14
So Return on shares = $57.36-$54.14 = $3.22
We proceed with calculating the Return on shares in percentage
Mathematically;
Return on shares in % = Return on shares/P0 * 100
= 3.22/54.14 * 100 = 5.95%
Lastly we calculate the effective annual interest;
The effective annual interest = 5.95%/3 * 12 = 23.79%
The EAR on the investment is 23.79%
Calculation of EAR:Since Three months ago, you purchased a stock for $54.14. The stock is currently priced at $57.36.
So, the difference of the price is
= $57.36-$54.14
= $3.22
Now return on shares should be
= 3.22/54.14 * 100
= 5.95%
Now EAR is
= 5.95%/3 * 12
= 23.79%
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___________is a partnership Is also called the articles of incorporation.
a) Is the same as a limited liability partnership.
b) Is not binding unless it is in writing.
c) Is binding even if it is not in writing.
d) Does not generally address the issue of the rights and duties of the partners.
Answer:
c
Explanation:
here is the correct question :
A partnership agreement:
A. Is not binding unless it is in writing.
B. Is the same as a limited liability partnership.
C. Is binding even if it is not in writing.
D. Does not generally address the issue of the rights and duties of the partners.
E. Is also called the articles of incorporation.
A partnership agreement is a contract between partners in a partnership. it contains guidelines on the relationship between the partners and responsibilities of partners. the partnership agreement creates legally binding relationships among the partners
A company issues 9%, 7-year bonds with a par value of $260,000 on January 1 at a price of $273,732, when the market rate of interest was 8%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:
Answer:
$11,700
Explanation:
The semi annual interest = Coupon rate × nominal value × 1/2
= 9% × $260,000 × 1/2
= $11,700
We prorated the interest into two in order to account for six months.
You short-sell 200 shares of Rock Creek Fly Fishing Co., now selling for $50 per share. If you want to limit your loss to $2,500, you should place a stop-buy order at ____. A. $37.50 B. $62.50 C. $56.25 D. $59.75
Answer:
The answer is B. $62.5
Explanation:
A stop order is an order to either buy or sell a stock immediately the stock price reaches a certain price. This particular price is called stop price.
A buy stop order is an order to buy a stock immediately the its price reaches a certain stop price. When stop price is above the current market price, a buy stop order is made.
Let's now go back to the question;
Stop buy order will be placed at:
($2,500 / 200 shares) + $50
= $12.5 + $50
= $62.5
Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attempt to sell the merchandise, and in return, Mogul will pay to Ski Outfit a commission of 25% of the selling price on any merchandise sold. During the year, Mogul ships inventory with a cost of $81,000 to Ski Outfit and pays shipping costs of $8,700. By the end of the year, $61,000 of the merchandise has been sold to customers for a total of $86,000. Mogul allocates $6,500 of the shipping costs to inventory sold and the other $2,200 to inventory not sold. Mogul also paid advertising costs during the year of $10,500. What amount of inventory will Mogul report at year end
Answer:
$22,200
Explanation:
With regards to the above information Mogul company,
Cost of goods
= $81,000 + $8,700
= $89,700
= $61,000 + $6,500
= $67,500
Inventory = Cost of goods - Cost of goods sold
= $89,700 - $67,500
= $22,200
It therefore means that the amount of inventory Magu company will report at the year end is $22,200
Andy Pearson ran PepsiCo Inc. for nearly 15 years, driving revenues from $1 billion to $8 billion. In 1980, Fortune named him one of the 10 toughest bosses in the United States. Pearson was singled out for the relentless demands that he put on his people. As one employee put it, Pearson's talents were often "brutally abrasive." Every year, without hesitation, he fired the least productive 10% to 20% of his workforce. Pearson used a(n) _____ leadership style.
Answer:
authoritarian leadership style
Explanation:
In simple words, An authoritarian form of leadership relates to the leadership style where a leader determines strategies and practices, defines what objectives are to be accomplished, and manages and monitors all operations without substantive involvement by subordinates. An authoritative style of management can be highly successful in some cases, but also has negative consequences on community participants or staff.
Presented below is the partial bond discount amortization schedule for Cullumber Corp. Cullumber uses the effective-interest method of amortization.
Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value
Issue date $31,273 $778,727
1 $36,450 $38,936 $2,486 28,787 781,213
2 36,450 39,061 2,611 26,176 783,824
Required:
Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1
Answer:
Journal entry is given below
Explanation:
To record the payment of interest and the discount amortization at the end of period 1 we should debit the Interest expense and credit cash and discount
DATA
Interest expense in year 1 = $38,936
Interest to be paid = $36,450
Discount amortization = $2,486
Entry DEBIT CREDIT
Bond interest expense $38,936
Cash $36,450
Discount on bonds $2,486
Predatory pricing is considered an anti-competitive practice, and is considered illegal under competition laws. Which of the following best describes predatory pricing?
A. Predatory pricing requires one company to aquire the assets of another.
B. One business chooses to put another out of business by pricing its product below the level another competing business must be at to make a profit.
C. Predatory pricing occurs when a firm colludes with one or more firms to fix prices or output.
D. Predatory pricing is when a business sends someone out to change the price of another company's product so it is higher than its own.
Answer:
B
Explanation:
Predatory pricing is when a company sets the price of its goods or services too low with the aim of eliminating the competition. Predatory pricing is illegal and it violates antitrust law.
Predatory pricing occurs when a firm colludes with one or more firms to fix prices or output. This is an example of collusion and they usually occur in an oligopoly
Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $2.20 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3:Budget Production, in bottlesYear 2:First 72,000Second 102,000Third 162,000Fourth: 112,000Year 3:First 82,000Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter’s production needs. Some 43,200 grams of musk oil will be on hand to start the first quarter of Year 2.Required:
Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. (Round "Unit cost of raw materials" answers to 2 decimal places.)
Answer:
Since there is not enough room here, I used an excel spreadsheet and attached it.
Explanation:
Year 2 Year 3
First Second Third Fourth First
Budgeted prod. 72,000 102,000 162,000 112,000 82,000
in bottles
Find the net present value of a project that has cash flows of −$12,000 in Year 1, +$5,000 in Years 2 and 3, −$2,000 in Year 4, and +$6,000 in Years 5 and 6. Use an interest rate of 12%. Find the interest rate that gives a net present value of zero.
Answer:
NPV = $2,000
IRR = 19.19%
Explanation:
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only firms with a positive NPV should accept the project because a negative NPV indicates that the project would be unprofitable for the firm
the interest rate that gives a net present value of zero is the IRR
Internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested
IRR can be calculated using a financial calculator
Cash flow for year 1 = −$12,000
Cash flow for year 2 = $5,000
Cash flow for year 3 = $5,000
Cash flow for year 4 = −$2,000
Cash flow for year 5 = $6,000
Cash flow for year 6 = $6,000
I = 12%
NPV = $2,000
IRR = 19.19%
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
To find the IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: Current Year Previous Year Sales $4,000,000 $3,600,000 Cost of goods sold 2,280,000 1,872,000 Selling expenses 600,000 648,000 Administrative expenses 520,000 360,000 Income tax expense 240,000 216,000 a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage. Innovation Quarter Inc. Comparative Income Statement For the Years Ended December 31 Current year Amount Current year Percent Previous year Amount Previous year Percent Sales $4,000,000 % $3,600,000 % Cost of goods sold (2,280,000) % (1,872,000) % $ % $ % Selling expenses $(600,000) % $(648,000) % Administrative expenses (520,000) % (360,000) % $ % $ % $ % $ % Income tax expense (240,000) % (216,000) % $ % $ % b. The vertical analysis indicates that the cost of goods sold as a percent of sales by 5 percentage points, while selling expenses by 3 percentage points, and administrative expenses by 3 percentage points. Thus, net income as a percent of sales by 5 percentage points.
Answer:
Innovation Quarter Inc.
a) Comparative Vertical Analysis of Income Statement
Current Year % Previous Year %
Sales $4,000,000 100% $3,600,000 100%
Cost of goods sold 2,280,000 57% 1,872,000 52%
Gross profit $1,720,000 43% $1,728,000 48%
Selling expenses 600,000 15% 648,000 18%
Administrative expenses 520,000 13% 360,000 10%
Income tax expense 240,000 6% 216,000 6%
After Tax Income $360,000 9% $504,000 14%
b. The vertical analysis indicates that the cost of goods sold as a percent of sales increased by 5 percentage points, while selling expenses decreased by 3 percentage points, and administrative expenses increased by 3 percentage points. Thus, net income as a percent of sales decreased by 5 percentage points.
Explanation:
Data and Calculations:
Vertical Analysis of Income Statement Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:
Current Year Previous Year
Sales $4,000,000 $3,600,000
Cost of goods sold 2,280,000 1,872,000
Selling expenses 600,000 648,000
Administrative expenses 520,000 360,000
Income tax expense 240,000 216,000
Innovation Quarter Inc. can use this vertical analysis to express the relationship between each line item and the sales revenue. The vertical analysis helps in ascertaining the percentage increases in each variable. With the analysis, the management of Innovation Quarter Inc. can undertake further investigations to learn the causes of the different performances and learn ways to control them.
For which of the following contracts, is a party's subjective dissatisfaction sufficient to excuse his performance under a "personal satisfaction" clause in a contract?
a. A contract to construct an intercontinental ballistic missile.
b. A contract to paint someone's portrait.
c. A contract to build a steam boiler.
d. A contract to rebuild an automobile engine.
Answer:
C. a contract to build a Steam boiler
Shaw Company engages Maya Company to produce a large machine, install the machine, and train their employees on the machine. The machine, installation, and training are distinct, and Maya determines that the contract includes three separate performance obligations. The machine, installation, and training typically cost $800,000 $100,000, and $100,000 respectively when each is provided in a separate contract. Shaw and Maya agree to a total contract price of $920,000.
Required:
How much of the contract price should Maya allocate to the machine, installation, and training, respectively?
Answer:
Machine= 736,000
Installation= 92,000
Training= 92,000
Explanation:
Giving the following information:
The machine, installation, and training typically cost $800,000 $100,000, and $100,000 respectively when each is provided in a separate contract.
Shaw and Maya agree to a total contract price of $920,000.
First, we need to determine the proportion of each:
Machine= 800,000/1,000,000= 0.8
Installation= 100,000/1,000,000= 0.1
Training= 100,000/1,000,000= 0.1
Now, we can allocate:
Machine= 0.8*920,000= 736,000
Installation= 0.1*920,000= 92,000
Training= 0.1*920,000= 92,000
A company with 99,006 authorized shares of $8 par common stock issued 48,828 shares at $13 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $22 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
A. $43,563
B. $21,484
C. $7,812
D. $13,672
Answer:
$21,484
Explanation:
A company has 99,006 authorized shares of $8 par
The common stock was issued at 48,828 shares at the price of $13 for one share
The company made a 2% dividend declaration
= 2/100
= 0.02
The market price is $22 per share
Therefore, the amount that was transferred from the retained earnings account to the paid-in capital accounts can be calculated as follows
= 48,828 shares × 0.02 × $22
= $21,484
Hence the amount that was moved from the retained earnings account to the paid-in capital accounts as a result of stock dividend is $21,484
Barnabas had a very rare necklace that he gave to Willie to hold for him for a few weeks. Barnabas wanted to give the necklace to Victoria for her birthday. Please answer true/false for the following statements.
Barnabas and Willie had a bailment for the sole benefit of Barnabas.
A. False
B. True
If Barnabas gives Victoria the necklace, the necklace is a gift causa mortis.
A. False
B. True
Barnabas would be the donee when he gives Victoria the gift.
A. False
B. True
Willie is the bailee when he receives the necklace from Barnabas.
A. False
B. True
For the gift to be valid, Barnabas only needed to delivery it to Victoria.
Identify if the remedy (relief) is equitable or legal.
direct damages
a. equitable
b. legal
rescission
a. equitable
b. legal
specific performance
equitable /legal
nominal damages
equitable /legal
compensatory damages
a. equitable
b. legal
injunction
a. equitable
b. legal
punitive damages
a. equitable
b. legal
consequential damages
a. equitable
b. legal
Dr. Neil met Mr. Hammond's grandson while they were visiting the Park. His grandson loved dinosaurs and Dr. Neil had written many books on the matter. Dr. Neill happened to have a copy of his latest book on him and thought the grandson would love it. Thus, he signed the book and gave it to him. Identify the party.
The donor in the situation would be:________.
the grandson Dr. Neil
The donee in the situation would be:_______.
the grandson Dr. Neil
Answer:
Answering true/false for the following statements:
Barnabas and Willie had a bailment for the sole benefit of Barnabas.
A. False
B. True
If Barnabas gives Victoria the necklace, the necklace is a gift causa mortis.
A. False
B. True
Barnabas would be the donee when he gives Victoria the gift.
A. False
B. True
Willie is the bailee when he receives the necklace from Barnabas.
A. False
B. True
For the gift to be valid, Barnabas only needed to delivery it to Victoria.
Identify if the remedy (relief) is equitable or legal.
direct damages
a. equitable
b. legal
rescission
a. equitable
b. legal
specific performance
equitable /legal
nominal damages
equitable /legal
compensatory damages
a. equitable
b. legal
injunction
a. equitable
b. legal
punitive damages
a. equitable
b. legal
consequential damages
a. equitable
b. legal
Dr. Neil met Mr. Hammond's grandson while they were visiting the Park. His grandson loved dinosaurs and Dr. Neil had written many books on the matter. Dr. Neill happened to have a copy of his latest book on him and thought the grandson would love it. Thus, he signed the book and gave it to him. Identify the party.
The donor in the situation would be:________.
the grandson Dr. Neil
The donee in the situation would be:_______.
the grandson Dr. Neil
Explanation:
Bailment is the transfer of the rare necklace from Barnabas to Willie so that Willie could hold it for him for a few weeks. Willie is the bailee when he receives the necklace from Barnabas.
Gift causa mortis is a deathbed gift, which is not applicable in this case. The gift here is given inter vivos, that is during the life of Barnabas.
A donee is Victoria who receives the necklace for her birthday. Barnabas is the donor when he gives Victoria the gift.
________________ allow(s) for more wealth because a larger market allows producers and consumers to benefit from lower costs.
Answer:
Global competition
Explanation:
Global competition is the competition in which the products and the services are provided by the companies that are competed and serve their products and services to international customers. In this the companies should faced a lot of challenges like taste and preferences, a lifestyle that occurs due to the difference in cultures also it generated the benefit from lowering the cost
Therefore according to the given scenario, global competition is the answer
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable $ 8,900 Supplies inventory $ 5,500 Equipment $ 38,000 Accumulated depreciation $ 15,400 Accounts payable $ 2,600 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $25,000, net income is budgeted to be $21,100, and dividends are budgeted to be $3,500.
Answer:
Mecca Copy
Budgeted Balance Sheet
Assets
Current assets:
Cash 13200
Accounts receivable 8900
Supplies inventory 5500
Total current assets 27600
Plant and equipment:
Equipment 38000
Accumulated depreciation (15400)
Plant and equipment, net 22600
Total assets 50200
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable 2600
Stockholders' equity:
Common stock 5000
Retained earnings 42600
Total stockholders' equity 47600
Total liabilities and stockholders' equity 50200
Note: Retained earnings = beginning balance of retained earnings + Net income - Dividend
= 25,000 + 21100 - 3500
= 42,600
24. Emotional labor is higher in jobs requiring: 1 point A. limited hours of routine work. B. working in irregular shifts. C. working in isolation. D. frequent interaction with clients. E. skilled knowledge such as accounting.
Answer:
The correct answer is:
frequent interaction with clients. (D.)
Explanation:
Emotional labour refers to the suppression or the management of one's emotions that are felt but not expressed while at a job. Essentially, emotional labour requires workers to:
Hide emotions they do feel
show emotions they do not feel
create an appropriate emotion for the situation.
These can be achieved through surface acting and deep acting.
Customer service and retail jobs require a lot of emotional labour. For instance, if the customer service agent is angry, it is not ethical in his/her job description to show such anger to the clients, hence he/she has to force a smile just to give a satisfactory service to the client. some determinants of emotional labour include:
1. societal, organizational or occupational norms
2. emotional expressiveness
3. supervisory regulation of display rules
An American-style call option with six months to maturity has a strike price of $35. The underlying stock now sells for $43. The call premium is $12. What is the intrinsic value of the call
Answer:
$8
Explanation:
An American style call option has a strike price of $35
The underlying stock now sells for $43 in the market
The call premium is $12
Therefore, the intrisic value of the call can be calculated as follows
Intrisic value= Market price - strike price
= $43-$35
= $8
Hence the intrinsic value of the call is $8
ABC Corporation, after many profitable years, declares a one-time special cash dividend of $10.00 per share. After the announcement, the stock is trading at $100 per share. Your customer holds 1 ABC Jan 110 Call. As of the ex date, the customer will have:
Answer:
1 ABC Jan 100 Call
Explanation:
Although the OCC does not usually adjust the strike price of listed options for regular quarterly cash dividends. This is because they are known quantity that are segmented by the market into options premium.
For special cash dividends, they are not a frequent event hence market does not recognize them. This special cash dividend is $10 per share × 100 shares = $1,000 value per contract. It therefore means that the $1,000 value per contract will be adjusted.
The new strike price will be
= 110 - 10 cash dividend
= 100. It also means that the number of shares covered by the contract does not change.