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?

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.

Joshua needed money for some unexpected expenses, so he borrowed $5,355.26 from a friend and agreed to repay the loan in seven equal installments of $1,100 at the end of each year. The agreement is offering an implied interest rate of _________

Joshuaâs friend, Willie, has hired a financial planner for advice on retirement. Considering Willieâs current expenses and expected future lifestyle changes, the financial planner has stated that once Willie crosses a threshold of $1,387,311 in savings, he will have enough money for retirement. Willie has nothing saved for his retirement yet, so he plans to start depositing $25,000 in a retirement fund at a fixed rate of 6.00% at the end of each year. It will take____________for Willie to reach his retirement goal.

On December 31, 2020, American Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par, $3,000,000 note receivable by the following modifications:

1. Reducing the principal obligation from $3,000,000 to $2,400,000.
2. Extending the maturity date from December 31, 2020, to January 1, 2024.
3. Reducing the interest rate from 12% to 10%.

Barkley pays interest at the end of each year. On January 1, 2024, Barkley Company pays $2,400,000 in cash to American Bank.

Required:
a. WIll the fain be recorded by Barkely be equal to the loss recorded by American Bank under the debt restructuring?
b. Cam Barkely Co. record a gain under the term modification mentioned above? Why?
c. Assuming that the interest rate Barkley should use to compute the interest expense in future period in 1.4276% prepare the interest payment schedule of the not for Barkley Co. after the debt restructuring?

You are provided with the following information for Lazuris Enterprises, effective as of its April 30, 2022, year-end.
Accounts payable $ 834
Accounts receivable 810
Accumulated depreciation—equipment 670
Cash 1,270
Common stock 16,900
Cost of goods sold 1,060
Depreciation expense 335
Dividends 325
Equipment 2,420
Goodwill 1,800
Income tax expense 165
Income taxes payable 135
Insurance expense 210
Interest expense 400
Inventory 967
Investment in land 14,200
Land 3,100
Mortgage payable (long-term) 3,500
Notes payable (short-term) 61
Prepaid insurance 60
Retained earnings (beginning) 1,600
Salaries and wages expense 700
Salaries and wages payable 222
Sales revenue 5,100
Stock investments (short-term) 1,200
Instructions:a. Prepare an income statement and a retained earnings statement for Lazuris Enterprises for the year ended April 30, 2022.Net income $2,230b. Prepare a classified balance sheet for Lazuris Enterprises as of April 30, 2022.Tot. current assets $4,307Tot. assets $25,157

A job cost sheet of Sandoval Company is given below.

Job Cost Sheet
JOB NO. 469 Quantity 2,500
ITEM White Lion Cages Date Requested 7/2
FOR Todd Company Date Completed 7/31
Date Direct Materials Direct Labor Manufacturing Overhead

7/10 $700
12 900
15 $440 $550
22 380 475
24 1,600
27 1,500
31 540 675

Cost of completed job:
Direct materials:_____
Direct labor :_____
Manufacturing overhead:_____
Total cost:_____

Required:
a. What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?
b. What is the predetermined manufacturing overhead rate?
c. What are the total cost and the unit cost of the completed job?

This is often flavored and cooked and used to cover/decorate bake goods, such as cakes or cookies

According to the law of supply, what happens to the quantity that the suppliers create when the prices increase?

Faz, Inc., manufactures and sells two products: Product X0 and Product W7. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:

Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours
Product X0 2,000 4 8,000
Product W7 440 3 1,320
Total direct labor-hours 9,320

The direct labor rate is $38.60 per DLH. The direct materials cost per unit is $163.50 for Product X0 and $145 for Product W7. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:

Expected Activity
Activity Cost Pools Activity Measures Estimated Overhead Cost Product X0 Product W7 Total
Labor-related DLHs $276,078 8,000 1,320 9,320
Production orders orders 19,348 540 740 1,280
Order size MHs 241,614 4,040 4,140 8,180
$537,040

If the company allocates all of its overhead based on direct labor-hours using its traditional costing method, the overhead assigned to each unit of Product XO would be closest to: ________

John Gardner is the city planner in a medium-sized southeastern city. The city is considering a proposal to award an exclusive contract to Clear Vision, Inc., a cable television carrier. Mr. Gardner has discovered that an economic planner hired a year before has generated the functions given below: P = 28 - 0.0008Q MC = 0.0012Q where Q = the number of cable subscribers and P = the price of basic monthly cable service. a. b. c. What price and quantity would be expected if the firm is allowed to operate completely unregulated? Mr. Gardner has asked you to recommend a price and quantity that would be socially efficient. Recommend a price and quantity to Mr. Gardner using economic theory to justify your answer. Compare the economic efficiency implications of (a) and (b) above.

On January 1, 2020, the ledger of Sunland Company contains the following liability accounts.

Accounts Payable $53,500
Sales Taxes Payable 7,200
Unearned Service Revenue 16,500

During January, the following selected transactions occurred.

Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
12 Performed services for customers who had made advance payments of $10,500. (Credit Service Revenue.)
14 Paid state revenue department for sales taxes collected in December 2019 ($7,200).
20 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty.
21 Borrowed $27,000 from Girard Bank on a 3-month, 8%, $27,000 note.
25 Sold merchandise for cash totaling $7,884, which includes 8% sales taxes.

Required:
Journalize the January transactions.

Galvanized Products is considering the purchase of a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow 1/4th of the purchase price from a bank at 15% compounded annually. The loan is to be repaid using equal annual payments over a 3-year period. The computer system is expected to last 5 years and has a salvage value of $5,000 at that time. Over the 5-year period, Galvanized Products expects to pay a technician $25,000 per year to maintain the system but will save $55,000 per year through increased efficiencies. Galvanized Products uses a MARR of 18%/year to evaluate investments.
What is the future worth of this investment?

(EDGE2020)
New Hampshire’s legislature has declared a busy roundabout a hazard because of the number of semi accidents that occur there. They’ve hired an independent consultant who specializes in traffic flow to make recommendations for improvement. What tasks will this person perform for the state?

A. working with police to study accidents and designing a traffic-improvement plan for the roundabout
B. working with police to step up enforcement after analyzing traffic flow information
C. analyzing traffic flow information and convincing shipping companies to use a different route
D. analyzing traffic flow and designing a traffic-improvement plan for the roundabout

If a firm's expected sales are $250,000 and its break-even sales are $190,000, the margin of safety in dollars is:

Consider a consumer who is contemplating a new automobile purchase. She has narrowed her decision down to two brands, Brand X and Brand Y. She has identified gas mileage, price, warranty, and styling to be important attributes to consider in her decision. Her evaluative ratings (e) for each attribute and her beliefs of how each brand performs on a given attribute (b) are given below: ​ Brand X Brand Y Attribute e b b Mileage 2 6 4 Low Price 3 2 2 Warranty -1 1 3 Design 1 10 5 Refer to the Automobile Scenario. The consumer comes across an advertisement that shows Brand X stating that its automobile is being offered as an environment-friendly hybrid model. According to the elaboration likelihood model (ELM), this consumer is most likely to be influenced by the _____. a. unit route to persuasion b. central route to persuasion c. sentiment route to persuasion d. secondary route to persuasion e. peripheral route to persuasion

Marigold Corporation factors $260,800 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. (b) Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2020, for Marigold to record the sale of receivables, assuming the recourse obligation has a fair value of $5,000.

Question Workspace Copyrights in Digital Information When she was in college, Kiersten Walburg wrote a case study on Grokster, an online peer-to-peer (P2P) file-sharing network, and knew that it was shut down because its services were illegal. Several years later, Montgomery Records, Inc., which owned the copyrights to a large number of music recordings, discovered that "tereastarr", a user name associated with Walburg's Internet protocol address, had made twenty-four songs available for distribution on another P2P network. Montgomery notified Walburg that she had been identified as engaging in the unauthorized trading of music. She replaced the hard drive on her computer with a new drive that did not contain the songs in dispute. Is Walburg liable for copyright infringement? 1. Making material available on a P2P network or through the cloud is called

Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $42,500 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $50,600. She proceeds with opening the restaurant, and it begins operations on May 1.

Required:
Determine the amount that Nancy can deduct in the current year for investigating these two businesses. In your computation, round the per-month amount to the nearest dollar and use rounded amount in subsequent computations. If required, round your final answers to the nearest dollar.

Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 186,300 Conversion costs $ 329,800 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:

Kelly Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs: Costs: Wages and salaries $ 360,000 Depreciation 200,000 Occupancy 100,000 Total $ 660,000 The distribution of resource consumption across the three activity cost pools is given below: Activity Cost Pools Total Fabricating Order Processing Other Wages and salaries 15% 60% 25% 100% Depreciation 20% 35% 45% 100% Occupancy 25% 50% 25% 100% How much cost, in total, would be allocated in the first-stage allocation to the Order Processing activity cost pool

how to write
market analysis for a event planning business​

Predicting which customer will respond to a marketing campaign is part of predictive analytics. Select one: True False

Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.

Deduction
Dollar Amount
Federal Income Tax
$420
State Income Tax
$95
Social Security
$89
Medicare
$40

What will be his new monthly net pay? Round your answer to the nearest dollar.
$2821
$2857
$2860
$2891

Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Wildhorses’ ledger showed Cash of $9,200 and Common Stock of $9,200.

May
1 Purchased merchandise on account from Black Wholesale Supply for $9,200, terms 1/10, n/30.
2 Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,500.
5 Received credit from Black Wholesale Supply for merchandise returned $200.
9 Received collections in full, less discounts, from customers billed on May 2.
10 Paid Black Wholesale Supply in full, less discount.
11 Purchased supplies for cash $900.
12 Purchased merchandise for cash $4,200.
15 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase.
17 Purchased merchandise from Wilhelm Distributors for $3,600, terms 2/10, n/30.
19 Paid freight on May 17 purchase $250.
24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100.
25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, n/30.
27 Paid Wilhelm Distributors in full, less discount.
29 Made refunds to cash customers for returned merchandise $88. The returned merchandise had cost $100.
31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $894.

Required:
Journalize the transactions using a perpetual inventory system.

Megatrends stock will generate earnings of $2 per share this year. The discount rate for the stock is 10%, and the rate of return on reinvested earnings also is 10%. a. Find both the growth rate of dividends and the price of the stock if the company reinvests the following fraction of its earnings in the firm: (i) 0%; (ii) 20%; (iii) 40%. (Do not round intermediate calculations. Enter the growth rates as a whole percent.) b. Redo part (a) now assuming that the rate of return on reinvested earnings is 15%. What is the present value of growth opportunities (PVGO) for each reinvestment rate

When the labor market is in equilibrium, the
unemployment rate is 0%.
True or false

-True-False 18. All types of extinguisher can use in any kinds of fire. - True False ​

The following balance sheet for the Hubbard Corporation was prepared by the company:

Buildings $766,000
Land 298,000
Cash 76,000
Accounts receivable (net) 152,000
Inventory 272,000
Machinery 296,000
Patent (net) 116,000
Investment in equity securities 92,000
Total assets $2,068,000

Liabilities and Shareholders' Equity

Accounts payable $231,000
Accumulated depreciation 271,000
Notes payable 532,000
Appreciation of inventory 96,000
Common stock (authorized and issued
116,000 shares of no par stock) 464,000
Retained earnings 474,000
Total liabilities and shareholders' equity $2,068,000

Additional information:

a. The buildings, land, and machinery are all stated at cost except for a parcel of land that the company is holding for future sale. The land originally cost $68,000 but, due to a significant increase in market value, is listed at $156,000. The increase in the land account was credited to
retained earnings.
b. Marketable equity securities consist of stocks of other corporations and are recorded at cost, $38,000 of which will be sold in the coming year. The remainder will be held indefinitely.
c. Notes payable are all long-term. However, a $280,000 note requires an installment payment of $70,000 due in the coming year.
d. Inventories are recorded at current resale value. The original cost of the inventories is $178,000

Required:
Prepare a corrected classified balance sheet for the Hubbard Corporation at December 31, 2018.

what message is this price tag telling shoppers? (other than it is on sale)

why you applied for this job and why you should be hired

The CPI for this year was reported at 163.65. If inflation was 3.1 percent, what must the CPI have been last year

What area of expense is best to target when looking for possible ways to cut back on spending