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ICE Princess25 [194]
2 years ago
11

Jerome, Sheila, Gary, and Ella agreed to purchase a tract of land and make it available for use as a free playground for neighbo

rhood children. They called the enterprise Meadowbrook Playground. Jerome and Gary improperly hung one of the playground swings, and a child was injured. Suit was brought against Meadowbrook Playground. Can damages be recovered?
Business
1 answer:
lesya [120]2 years ago
7 0

Answer:

Yes

Explanation:

The damages can be recovered as Jerome and Gary hung the playground swing improperly. A child was injured due to their negligent actions. The case will be on Meadowbrook Playground and not on the individual person who has committed the mistake. According to law, the damages can be recovered as the enterprise owned the whole property, and due to their carelessness in the installation of swing, the accident took place. The child's parent has every right to recover damages from the playground owner.

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The sales for​ January, February, and March are​ $150,000, $180,000 and​ $220,000, respectively. For any particular month of​ sa
Gekata [30.6K]

Answer:

Total cash= $193,000

Explanation:

Giving the following information:

Estimated sales ($):

January= $150,000

February= $180,000

March= $220,000

40% in cash from that same month of​ sales

50% in cash from the previous​ month's sales

10% in cash from the sales from two months ago

C<u>ash collection March:</u>

From March= 220,000*0.4= 88,000

From February= 180,000*0.5= 90,000

From January= 150,000*0.1= 15,000

Total cash= $193,000

3 0
2 years ago
On January 1, Year 1, Sayers Company issued $280,000 of five-year, 6 percent bonds at 102. Interest is payable semiannually on J
mel-nik [20]

Answer:

The cash received from bond issuance is journalized as follows:

Dr Cash                                $285,600

Cr  Bonds payable                                  $280,000

Cr Premium on Bonds payable                   $5,600

The June 30 and 31 December Year 1 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                         $8400

31 December

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                         $8400

The June 30 and 31 December Year 2 interest on the bonds are recorded thus:

30 June

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                             $8400

31 December

Dr Interest expense(bal fig) $7,840                                          

Dr Premium on bonds           $560

Cr Cash                                            $8400

Explanation:

The amount realized from the bond is calculated thus:

$280,000*102%=$285,600

Premium on  bond=Bonds proceeds-par value

                                =$285,600-$280,000

                                =$5,600

Semi-annual amortization of bond premium=$5,600/5*6/12

                                                                         =$560

Semi-annual interest payment=$280,000*6%*6/12

                                                 =$8,400

5 0
2 years ago
A(n) ______ does not work for either the employer or the employee. It acts as a go-between for employers looking to hire and emp
Anastaziya [24]

Answer:

An employment agency

Explanation:

An employment agency is a firm whose primary purpose is to connect employers and employees. The agency does not employ people but aims at placing them for employment in other organizations. The agency matches the job opening in organizations and available skills.  

In some countries, employment agencies can be government-owned or private businesses. Organizations that employ though agencies will save on time and recruitment costs.  

3 0
2 years ago
On October 1, Year 1, Jason Company paid $7,200 to lease office space for one year beginning immediately. What is the amount of
victus00 [196]

Answer:

The amount of rent expense that will be reported on the Year 1 income statement is $1,800 .

The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $5,400.

Explanation:

Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.

The duration of the payment is 12 months, hence  

Monthly amortization = $7,200/12 = $600

Rent expense for year 1 = $600 × 3 = $1,800

The ending balance in the prepaid rent account will be  

= $7,200 - $1,800

= $5,400

This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.

6 0
2 years ago
Ahrends Corporation makes 70,000 units per year of a part it uses in the products it manufactures. The unit product cost of this
Lelechka [254]

Answer:

$48.50

Explanation:

Relevant costs are the costs that are influenced by managerial decisions.They are future costs that have the tendency to affect the cash flow or outflow above the current level , that are relevant in making decisions . Examples are opportunity cost , incremental cost

The relevant cost in the scenario is the cost of buying from the supplier instead of in-house manufacturing , which is $48.50

8 0
2 years ago
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