a. What two elements must exist before a person can be held liable for a crime?
b. What defenses might be raised by criminal defendants to avoid liability for criminal acts?

c. John Law, a local police officer, is sitting outside an AM/PM around Midnight. He is eating a protein bar and drinking an energy drink when he observed a man walking up to the entrance of the AM/PM. The man then walked away from the entrance and met up with another individual on a street corner while repeatedly walking up and down the same street. The men would periodically peer into the AM/PM window and then talk some more. The men also spoke to a third man whom they eventually followed up the street. The officer believed that the men were "casing" the store for a potential robbery. The officer decided to approach the men for questioning, and given the nature of the behavior the officer decided to perform a quick search of the men before questioning. A quick frisking of one of the men, Jake, produced a concealed weapon and Jake was charged with carrying a concealed weapon, a felony.

Jake, hires a lawyer and fights the charges against him. He believes that his greatest argument is that the officer did not have probably cause to search and seize the firearm. Do you agree or disagree? Within your answer, please discuss whether the search was lawful or unlawful. In other words, did the search violate Jake’s 4th Amendment rights?

Answers

Answer 1

Explanation:

A. The elements are:

-The person must have committed an act that is prohibited

-The act must have been committed with intent

B

The defenses include

-Self defense

- under duress

- insanity

- necessity

C officer john law had a good and enough cause to search Jake and seize his firearm since his movement was suspicious. It was midnight and he was about a shop in a strange manner and he was even talking to someone else. Such actions is enough to get an officer at alert. It seemed like jake and the man were planning on how to commit a crime. A search on the man even revealed a weapon. 4th amendment gives a protection to peoples privacy and immunity from unnecessary search and seizures. But the amendment does not say a probable cause like the officer had done was illegal. This search was reasonable and very legal. Jakes rights were not violated.


Related Questions

You purchase a home for $200,000 and borrow the entire amount from Broadway Bank at an APR of 6% with monthly payments. The maturity of your mortgage equals (30+X) years. a. (8 points) Draw a time line that depicts the cash flows from the mortgage payments i. compute the payment and show your inputs and work. ii. Use negative numbers for outflows and positive for inflows. b. (8 points) Compute the outstanding mortgage amount after you have made (10+Y) years of payments. i. Show this point on the time line, and ii. give the inputs to your computations for full credit. (8 points) c. (9 payments) What is the interest and principal component of your mortgage payment on the next mortgage payment made after (10+Y) years in part (b)? Show your computations.

Answers

Answer:

    c c c c c         c c c c c c

 //-!-!-!-!-!-!-!- {...} -!-!-!-!-!-!-!-!//

F0                                   30+X

on F0 we receive the 200,000 dollars

then each month (!) we made the installment payment (c)

this continues for the entire life of the mortgage until we reach the year 30 + X at which the mortgage ends and no more payment is done.

The outstanding amount will be the 200,000 less the capitalize installment over 10 + Y years.

Notice as the payments are monthly we use a monthly rate.

[tex]200,000 - C \times \frac{(1+0.06/12)^{(10+Y)12}-1 }{0.06/12}[/tex]

Outstanding after 10 + Y years

[tex]200,000 - C \times \frac{(1+0.005)^{(120+12Y}-1 }{0.005}[/tex]

the interest component will be the outstanding balance times rate

[tex](200,000 - C \times \frac{(1+0.005)^{120+12Y}-1 }{0.005}) \times 0.005[/tex]

reduced expression:

[tex](1,000 - C \times ((1+0.005)^{120+12Y}-1) [/tex]

and the amortization of the installment quota less interest:

[tex]C - (1,000 - C \times ((1+0.005)^{120+12Y}-1)[/tex]

[tex]C^2 \times ((1+0.005)^{120+12Y}-1) -1,000C[/tex]

Explanation:

As we don't know the values for X and Y we have to use the main formulas and reduce them the most we can.

If we are given values for X and Y we place them in the formulas and solve.

NEED HELP ASAP!! 30 points AND I WILL MARK YOU BRAINLIEST!!

1. How does the business cycle directly impact the level of employment within an economy? Please discuss how each part of the business cycle would directly impact the need to employ workers.

2. How does GDP represent the health of an economy? Please list two ways that a GDP is representative of the overall strength or weaknesses of an economy.

Answers

Answer:

1. How does the business cycle directly impact the level of employment within an economy? Please discuss how each part of the business cycle would directly impact the need to employ workers.

Business cycles are the "ups and downs" in economic activity, defined in terms of periods of expansion or recession. During expansions, the economy, measured by indicators like jobs, production, and sales, is growing--in real terms, after excluding the effects of inflation.

2. How does GDP represent the health of an economy? Please list two ways that a GDP is representative of the overall strength or weaknesses of an economy.

Gross domestic product (the GDP) tracks the health of a country's economy. It represents the value of all goods and services produced over a specific time period within a country's borders. Economists can use GDP to determine whether an economy is growing or experiencing a recession. Investors can use GDP to make investments decisions a bad economy means lower earnings and lower stock prices.

Explanation:

It's just like what lahh56camm said.

True or false: The primary function of financial accounting is to provide useful financial information to users who are internal to the business. True false question. True False

Answers

I think the answer is true

At what point in a real estate transaction will the deposits and the disbursements of the transaction need to reflect a zero balance

Answers

As the closing of the real estate transaction.

If Allowance for Doubtful Accounts has a credit balance of $4,400 in the trial balance and bad debts are expected to be 10% of accounts receivable, journalize the adjusting entry for the end of the period.

Answers

Answer:

a. Adjusting Journal entry Accounts/ Explanations Debit Credit Bad Debts Expense $10,600 Allowance for Doubtful Accounts

Kitto Electronics Data Kitto Electronics expects an EBIT of $200,000 for Year-1. EBIT is expected to grow at 6% thereafter. The tax rate is 25%. In order to support growth, Kitto must reinvest 20% of its EBIT in net operating assets. Kitto has $300,000 in 8% debt outstanding, and a similar company with no debt has a cost of equity of 11%. Refer to data for Kitto Electronics. Using the compressed adjusted present value model, what is the value of Kitto's tax shield

Answers

Assuming the cost of equity of 11%. Using the compressed adjusted present value model, the value of Kitto's tax shield is $120,000.

Value of Kitto's tax shield

Given:

EBIT=$200,000

rsU= 11%

Debt=$300,000

Tax rate(T)=25%

rd= 8%

EBIT retained= 20%

g=6%  

Using this formula

VTS = rdTD/(rsU − g)

Let plug in the formula

VTS = 0.08(0.25)($300,000)/(0.11 − 0.06)

VTS =$6,000/0.05

VTS = $120,000

Inconclusion the value of Kitto's tax shield is $120,000.

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2.
Drag the tiles to the correct boxes to complete the pairs.
Match the categories of retailers to their definitions.
department store
supermarket
off-price retailer
service retailer
sells overruns, leftover goods, and salvage lots
Includes hotels, movle theaters, and restaurants
offers a range of choices and high-quality service
generally deals with foods and beverages.

Answers

Answer:

Department Store ---> Offers a range of choices and high-quality service

Supermarket ---> Generally deals with foods and beverages

Off-Price Retailer ---> Sells overruns, leftover goods, and salvage lots

Service Retailer ---> Includes hotels, movie theaters, and restaurants

Brad works in purchasing for a manufacturing firm. He has a meeting with a potential supplier at a nice restaurant. The supplier encourages him to order as much as he wants. At the end of the meal, the supplier insists upon paying. Brad is not sure what he should do. He is afraid that, even if he attempts to be unbiased, this free meal will influence his choice of supplier in the future. However, he also doesn't want to be rude to the supplier by turning down his offer. What should Brad do?

Answers

The thing which Brad should do in the given situation is to offer to split the costs of the meal.

What is Business Relationship?

This refers to the interaction between two or more people who are interested in entering a business partnership.

With this in mind, we can see that Brand goes for lunch with a potential supplier of which the supplier encourages him to order as much as he wants and insists on paying at the end of the meal, what Brad should do in this situation is to offer to split the costs of the meal.

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Teenagers have more frequent unemployment spells and spend more time searching for jobs. Other thing the same, this means that teenagers have a a. lower unemployment rate. If a larger portion of the adult population were teenagers , the natural rate of unemployment would be lower. b. higher unemployment rate. The portion of the adult population that is teenagers does not affect the natural rate of unemployment. c. higher unemployment rate. If a larger portion of the adult population were teenagers , the natural rate of unemployment would be higher. d. lower unemployment rate. The portion of the adult population that is teenagers does not affect the natural rate of unemployment.

Answers

Answer:

c. higher unemployment rate. If a larger portion of the adult population were teenagers , the natural rate of unemployment would be higher.

Explanation:

As provided teenagers have more frequent unemployment spells that means that the population of teenagers is usually unemployed, as they spend most of  their time searching for the jobs  rather than actually grabbing and working.

Whereas usually adults settle down and find a descent job, and work on such job. Accordingly they do not contribute much to unemployment.

Accordingly if more of the adults were of teenage then the rate of unemployment would drastically be high.

Based on your understanding of the impact of macroeconomic factors, identify which of the following statements is true or false.

a. The larger the federal deficit, other things held constant, the higher are interest rates.
b. If the Fed injects a huge amount of money in the markets, inflation is expected to decline, and long-term interest rates are expected to rise.
c. In November 2008, the yields on U.S. Treasuries were actually negative. This means that investors were willing to lose money on their investment in U.S.
d. Treasuries as long as most of their invested capital was safe.
e. The Federal Reserve’s ability to use monetary policy to control economic activity in the United States is limited because U.S. interest rates are highly dependent on interest rates in other parts of the world.

Answers

Answer and Explanation:

1. True: money supply increase is inversely relayed to short term in5st rates which begin to fall

2. True: there is an increase in price of treasury securities here because of high demand of safe securities such as this. Therefore the interest which is constant is not equal increase in price

3. False: increase in interest will decrease money supply. money supply is increased to boost economy

4. True: other interest rates affect us interest rates

Match to the best answer. You will not use all the options and you cannot use the same option more than once. A. Risk-Return trade-off G. Crony capitalism F. Marginal benefit - Balance of payments H. Lorenz curve E. Scarcity - Marginal cost A. Safe investments make little money B. Change in total revenue C. CA+NX=0 D. Change in total cost E. When demand exceeds our ability to fulfill those demands F. Change in total benefit G. Capitalism characterized by a government-manipulated economy H. Represents actual distribution of income I. Property rights must be clearly defined and strictly enforced

Answers

Answer:

Terms matched to best answers, given below

Explanation:

Risk Return Trade off : Safe investments make little money

Crony capitalism : Capitalism characterized by a government-manipulated economy

Marginal Benefit : Change in Total Benefit

Balance of Payment : CA+NX=0

Lorenz Curve : Represents actual distribution of income

Scarcity : When demand exceeds our ability to fulfill those demands

Marginal Cost : Change in total cost

Lorenzo Peterson was swimming in a swimming pool with a friend at an apartment com­plex. Lorenzo watched his friend swim to the bottom of the pool, slide an unattached drain cover away, and then slide it back. Lorenzo thought his friend had hid­den something inside the drain, so he swam to the bot­tom of the pool. Lorenzo slid the drain cover aside and stuck his arm inside the drain. The 300 to 400 pounds of pull of the drain pump held Lorenzo trapped under­water. At least seven people tried to free Lorenzo to no avail. When the police arrived, they broke down the door to the pool equipment room and turned off the drain pump.Lorenzo was trapped underwater for twelve minutes, which left him irreversibly brain damaged. Evidence at trial showed that Sta-Rite's drain covers are designed to screw down, but often a drain cover becomes loose. Further evidence showed that there had been more than 20 prior suction-entrapment accidents involving Sta-Rite's drain covers and pumps. Evidence showed that others had designed a pool drain pump with a mechanism that would automatically shut off a pool drain pump when it detected that it was pulling more than it should. Sta-Rite did not install such safety fea­tures on its drain pumps, however.Lorenzo, through his relatives, sued Sta-Rite Indus­tries, Inc., the manufacturer of the drain, under the doctrine of strict liability to recover damages for Loren­zo's injuries. The plaintiff alleged that the underwater pool drain was designed defectively because it did not contain a shut-off mechanism. Sta-Rite Industries, Inc. v. Peterson, 837 So.2d 988, 2003 Fla. App. Lexis 1673 (Court of Appeal of Florida, 2003)1. Is there a design defect?2. Did Sta-Rite Industries meet its ethical duty?3. Should Sta-Rite be assessed punitive damages be­cause it knew there were more than 20 prior suction-entrapment accidents?

Answers

Answer: See explanation

Explanation:

1. Yes.

A design defect is when the design for a particular product brings about risk or injury which could have been averted if the design was done in another way.

With regard to the question, there is a design defect as we're informed that the drain cover becomes loose and we're further told that Sta-Rite did not install safety fea­tures on its drain pumps.

2. No.

Based on the scenario in the question, the ethical duty wasn't met by Sta-Rite Industries. They neglected the potential injury and harm that their design would cause. This means that they didn't perform their ethical duty well.

3. Yes.

In this case, Sta-Rite has to compensate the affected person and a punitive damage should further be added to whatever compensation had been put in place. This will serve as a way of making others also learn and always do the right thing and be safety conscious.

Daguio Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year, actual direct labor-hours for the year were 18,200 hours, manufacturing overhead for the year was underapplied by $12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to: _________.
A. $11.40 per machine-hour
B. $12.34 per machine-hour
C. $12.06 per machine-hour
D. $10.53 per machine-hour

Answers

Answer:

It's A. 11.40 per machine-hour

Explanation:

IT'S AAAAAAAAAAAAAA

Answer:

The answer is A .

Explanation:

According to the law of supply, when prices increase, the quantity of suppliers create _____.

Answers

Answer:

increase

listening to the law when a supplier increases the price their supply increases the quality aswell!!

the answer would be increase for the blank spot

What is the term for an organized group representing individuals and businesses that belong to the same industry?.

Answers

Based on the fact that the organized group represents entities in the same industry, it is most likely a trade association.

What is a trade association?

A trade association is a organized group whose members are from the same industry and include both businesses and workers.

The purpose of these associations is to further the interest of the industry by lobbying the government and engaging in public relations.

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Choose the option that best matches the description given. While many new businesses start when the economy takes a downturn, it is beneficial to be positioned to take advantage when the economy
O recedes
O contracts
O expands

Answers

Answer:

O recedes

Explanation:

A recession is a business cycle characterized by a  general decline in economic activities. Recession may occur as a result of reduced spending in the economy that adversely affects the aggregate demand. The recession cycle usually lasts for a couple of months.

Businesses that start and survive during tough times have a greater chance of succeeding. After a recession, the economy experiences the recovery cycle, followed by a boom. The recovery and boom sessions present excellent opportunities for young businesses to grow and thrive.

The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019.

a. Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year.
b. What is the difference in GDP between a growth rate of 2% and one of 3% over those 5 years?

Answers

Based on the compounding period and the amount of GDP, the following are true:

GDP in 5 years at 3% = $22,332.77 billion.GDP in 5 years at 2% = $$21,243.60 billion. The difference will be = $1,089.17 billion.

What is the GDP in 5 years at 3%?

Because this is GDP, it will be compounded continuously which means that the formula would be:

= Amount x e ^ (Rate x number of years)

= 19,222 x e⁰.⁰³ˣ⁵

= $22,332.77 billion

What is the GDP in 5 years at 2%?

= 19,222 x  e⁰.⁰²ˣ⁵

= $21,243.60 billion

What is the difference?

= 22,332.77 - 21,243.60

= $1,089.17 billion

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BioMorphs Corporation produces three products in a monthly joint production process. During the first stage of the process liquids and chemicals costing $60,000 are heated and three different compounds emerge: 3,000 gallons of Molecue worth $22 per gallon are created from the steam; 10,000 gallons of Borphue worth $15 are drained from the tank; and 1,000 gallons of the tank residue, labeled as Polygard, are sold as fertilizer for $5.50 per gallon. Before Molecue is sold, it must be purified in another process that costs $10,000, and before the Polygard fertilizer is sold, it must be bottled at a price of $1.50 per gallon.

Required:
a. What is the profitability of the joint process?
b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?
c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?

Answers

Answer:

a. What is the profitability of the joint process?

costs = -$60,000

Molecule = (3,000 gallons x $22) - $10,000 = $56,000

Borphue = 10,000 gallons x $15 = $150,000

Polygard = 1,000 gallons x ($5.50 - $1.50) = $4,000

total revenue = $56 + $150 + $4 - $60 = $150,000

b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?

it is more profitable further process Molecule since you will spend $10,000, but you will add $39,000 more than just selling it at the split-off point.

c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?

BioMorphs will lose = $3,400 - $4,000 = ($700) if it accepts this offer.

On October 1, 20X1, Bullseye Company sold 250,000 gallons of diesel fuel to Schmidt Co. at $3 per gallon. On November 8, 20X1, 150,000 gallons were delivered; on December 27, 20X1, another 50,000 gallons were delivered; and on January 15, 20X2, the remaining 50,000 gallons were delivered. Payment terms are 10% due on October 1, 20X1; 50% due on first delivery; 20% due on the next delivery; and the remaining 20% due on final delivery.

Required:
a. Do each of the three deliveries represent a distinct performance obligation, or is there a single performance obligation requiring three deliveries?
b. What amount of revenue should bullseye recognize from this sale during 2018?

Answers

a. There is a single performance obligation requiring three deliveries.

b. The amount of revenue should bullseye recognize from this sale during 2018 is $600,000.

Performance obligation

a. The single performance obligation requiring three deliveries is the delivering of  250,000 gallons of diesel fuel.

b. Revenue recognized

Delivering=3×250,000

Delivering=750,000

Revenue recognized=750,000×80%

Revenue recognized=$600,000

Inconclusion there is a single performance obligation requiring three deliveries and the amount of revenue should bullseye recognize from this sale during 2018 is $600,000.

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what is durability of money

Answers

Answer:

Durability of money is such that it can be used over and over again; hence it must survive wear and tear for long periods. The qualities of good money are: General acceptability. Portability.

Suppose you interview someone for the job of receptionist. He or she makes this statement: "I am usually in a very good mood. I consider myself to be upbeat and optimistic Which element of individual behavior might this predict, and would this be important for the job as described? a. Selective perception; unimportant for job b. Machiavellianism; unimportant for job c. Positive affectivity; important for job d. Low openness; important for job

Answers

The element of individual behavior that can be predicted when interviewing the person is C. Positive affectivity; important for job.

What is a behavior?

It should be noted that a behavior simply means the traits that are exhibited by an individual.

In this case, the element of individual behavior that can be predicted when interviewing the person is "positive affectivity; important for job. This is needed as a receptionist.

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Critically discuss three characteristics of an entrepreneur that may assist a school leaver to become successful business owners. Answer in essay form that include introduction body and conclusion

Answers

Motivation
Eyesight
Self-confidence

Entrepreneurs are leaders in the business world which makes them vital to any economy While some entrepreneurs open businesses out of necessity due to a lack of employment opportunities others take advantage of the growing number of startup companies Regardless of the reason entrepreneurs are needed to provide jobs and help stimulate the economy The characteristics of an entrepreneur include: Creativity – Entrepreneurs can be creative when faced with problems such as limited resources or lack of necessary equipment Creativity helps people come up with new ideas for products or services that will make their businesses more successful Courage – It takes courage to start a new business It means taking responsibility for mistakes and facing challenges head on instead of giving up when things get

The Dante Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated below. The corporate tax rate is 35 percent. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project.

Year 0 Year 1 Year 2 Year 3 Year 4
Investment $32,000
Sales revenue $16,500 $17,000 $17,500 $14,500
Operating costs 3,500 3,600 3,700 2,900
Depreciation 8,000 8,000 8,000 8,000
Net working capital spending 380 430 480 380 ?

Required:
a. Compute the incremental net income of the investment for each year.
b. Compute the incremental cash flows of the investment for each year.
c. Suppose the appropriate discount rate is 13 percent. What is the NPV of the project?

Answers

Answer:

a) incremental net income

net income year 1 = ($16,500 - $3,500 - $8,000) x 0.65 = $3,250

net income year 2 = ($17,000 - $3,600 - $8,000) x 0.65 = $3,510

net income year 3 = ($17,500 - $3,700 - $8,000) x 0.65 = $3,770

net income year 4 = ($14,500 - $2,900 - $8,000) x 0.65 =$1,340

b) incremental net cash flow

cash flow year 1 = [($16,500 - $3,500 - $8,000) x 0.65] + $8,000 - $430 = $10,820

cash flow year 2 = [($17,000 - $3,600 - $8,000) x 0.65] + $8,000 - $480 = $11,030

cash flow year 3 = [($17,500 - $3,700 - $8,000) x 0.65] + $8,000 - $380 = $11,390

cash flow year 4 = [($14,500 - $2,900 - $8,000) x 0.65] + $8,000 + $1,670 = $12,010

c) project's NPV

NPV = -$32,380 + $10,820/1.13 + $11,030/1.13² + $11,390/1.13³ + $12,010/1.13⁴ = $1,093.13

According to your research, the growth rate in dividends for DR Dime for the previous 10 years has been negative 14 percent. If investors feel this growth rate will continue, what is the required return for DR Dime stock?

Answers

The required return for DR Dime stock will be -9.07% If the investors felt the growth rate will continue.

What is the formula for required return?

The formula for required return is Ke = (D0(1+q)/P0 + q)

Given data

D0 = 0.89

G = -14%

P0 = 15.52

Required return = (0.89*(1-0.14)/15.52) +-0.14

Required return = 0.0493170103 - 0.14

Required return = -0.0906829897

Required return = -9.07%

In conclusion, the required return for DR Dime stock is -9.07%.

Missing options "You've collected the following information from your favorite financial website. 52-Week PriceStock (Div)DivYld %PERatioClosePriceNetChgHiLo77.40 10.43 Palm Coal .362.6 6 13.90 -.24 55.81 33.42 Lake Lead Grp 1.543.8 10 40.43 -.01 130.93 69.50 SIR 2.002.2 10 88.97 3.07 50.33 14.04 DR Dime .895.7 6 15.52 -.26 35.00 20.74 Ca"

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Errors not detected by a trial balance

Answers

Answer:

There will be no effect on the Trial Balance if a transaction is totally excluded. An error of omission occurs when a transaction is fully unreported in both aspects, or when a transaction is documented in the books of primary entry but never entered in the ledger.

1. Errors of omission

2. Errors of Commission

3. Errors of Principle

4. Compensating Errors

5. Complete reversal errors

6. Transportation errors

7. Duplication errors

Answer:

The suspense account is the main method used to detect errors that cause discrepancies between the debit and credit balances of the trial balance.

Explanation:

Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.

External Transaction Accounts Debit Credit
1. Pay cash dividends of $800 to stockholders. Cash 800
Dividends 800
2. Provide services on account for customers, $3,400. Cash 3,400
Service Revenue 3,400
3. Pay a $500 utilities bill for the current period. Utilities Expense 500
Cash 500
4. Receive cash of $400 from previously billed customers. Cash 400
Service Revenue 400
5. Pay for supplies previously purchased on account, $1,200. Supplies Expense 1,200
Cash 1,200

Required:
Provide a correct entry for each of the transactions classified as incorrect

Answers

Answer:

Crimson Tide Corporation

 Accounts Titles             Debit      Credit

1. Dividends                     $800

  Cash                                          $800

To record payment of dividends.

2. Accounts Receivable $3,400

   Service Revenue                     $3,400

To record provision of services on account.

3. correct

4. Cash                          $400

   Accounts Receivable                $400

To record the receipt of cash on account.

5. Accounts Payable    $1,200

   Cash                                           $1,200

To record payment on account.

Explanation:

The correct entries have been provided as above.  The first step in recording transactions in the journal is to recognize the accounts involved.  Then, identify which account is to be debited and which is to be credited, following basic accounting principle and based on the accounting equation of Assets = Liabilities + Equity.

Which option identifies the law represented in the following scenario?
Bauer comes out with a new hockey skate, and last year’s model sits on the shelves. The local hockey shop places last year’s model on sale for half price.


law of demand

law of diminishing marginal utility

law of supply and demand

law of supply

Answers

Answer:

A. law of demand

Explanation:

Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July.

Work-in-Process Inventory, July 1 6,000 units
Transferred-in costs 94,900 won (100% complete)
added in July Direct materials 33,970 won (100% complete)
Conversion 46,880 won (80% complete)

During the month of July, 15,000 units were transferred in from the assembly department at the cost of 148,700 won, and the testing department added costs of 209,940 won, as follows:

Direct materials 96,440 won
Conversion 113,500 won

During the month, 18,000 units were completed and transferred to the warehouse. At July 31, the completion percentage of Work-in-Process was as follows:

Direct materials 90%
Conversion 60%

Required
Prepare the production cost report of the testing department for the month of July using weightedaverage process costing.

Answers

Question a)

The sum of the Total assets plus total fixed assets results in total assets.

Question b)

The division of Net sales over total assets results in Asset Turnover

Question c)

The subtraction of the cost of good sold from net sales is equal to the gross margin

Question d)

The subtraction of Operating expenses from gross margin results in the Net Operating profits, before the taxes.

Question e)

The subtraction of Taxes from Net Profit before tax results in Net profit after taxes

Question f)

The division of Net profit after tax over the Net saves gives you the Net profit margin percentage.

Question g)

The division of Net profit Margin percent over the asset turnover results in a return on assets.

TRUE OR FALSE - ACCOUNTING (70 POINTS) - IF FALSE EXPLAIN WHY

1. If the adjusting entry to recognize expired auto insurance at the end of the period is inadvertently omitted, insurance expense will be understated and net income overstated.
2. The book value of an asset is the difference between the cost of an asset and the accumulated depreciation.
3. Accumulated depreciation is reported on the income statement.
4. A company depreciates its equipment $600 a year. The adjusting entry on December 31 is a: debit to Depreciation Expense, $600, and a credit to Accumulated Depreciation, $600.
5. Cash and other assets that are reasonably expected to be realized in cash, sold, or consumed less than one year after the balance sheet date are called current assets.
6. Manufacturing equipment is an example of a current asset.
7. Rent Expense is a permanent account and it appears on the balance sheet.
8. Assets, liabilities, and stockholders' equity accounts are permanent accounts and do not get closed at the end of the period.

Answers

1. True
2. True
3. False - Accumulated depreciation is a “contra asset” account
4. True
5. True
6. False - More than 12 months is long term
7. False - Temporary and it appears on the income statement
8. True

Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $124,916. Carlise has identified the following information about its overhead activity cost pools and the two product lines:

Activity Cost Pools Cost Driver Cost Assigned to Pool Quantity/Amount Consumed by Indoor Line Quantity/Amount Consumed by Outdoor Line
Materials handling Number of moves $18,236 570 moves 370 moves
Quality control Number of inspections $77,420 5,600 inspections 4,200 inspections
Machine maintenance Number of machine hours $29,260 27,000 machine hours 11,000 machine hours

Required:
Suppose Carlise used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.

Answers

Answer:

For indoor = $88,756

For outdoor = $72,666

Explanation:

The computation of the amount of overhead assigned to each product line is given below:-

Traditional Costing

                                 Machine Hours             Overhead Assigned

Indoor Model                  27,000                         88,756    

                                                   ($124,916 ÷ 38,000) × 27,000

Outdoor Model              11,000                           72,666

                                                   ($124,916 ÷ 38,000) × 11,000

Total                              38,000                          $161,442

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