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ycow [4]
1 year ago
15

Brenda is the CEO of a large corporation. While presenting a proposal to a commercial bank for a corporate loan, she offered the

bank's commercial loan manager a $10,000 "gift" for favorable treatment. Is Brenda guilty of bribery?
A. Brenda is guilty of bribery because she is dealing with a commercial bank in the normal course of business.
B. Brenda is guilty of bribery whether the manager accepts or not because the offer constitutes the crime.
C. Brenda is not guilty of bribery.
D. Brenda is guilty of bribery only if the manager accepts because the crime has not occurred without acceptance by the other party.
Business
1 answer:
iren [92.7K]1 year ago
3 0

Answer:

C) Brenda is not guilty of bribery.

Explanation:

Bribery can be defined as offering a payment (or paying) to a government official in exchange for a favorable treatment either regarding a personal or commercial issue. In this case, Brenda offered money to a person working in a private company, so she cannot be guilty of bribery.

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During the current year, Brewer Company acquired all of the outstanding common stock of miller Inc. paying $12,000,000 cash. The
Lesechka [4]

Answer:

See the explanation below:

Explanation:

The merged details are first sorted as follows:

Details                                        Book Value ($)            Fair Value ($)

Accounts receivable                     1,800,000                   1,625,000

Inventories                                     2,700,000                  4,000,000

Property Plant and Equipment     9,000,000                 11,625,000

Accounts payable                          3,000,000                 3,000,000

Bonds payable                               4,500,000                  4,125,000

The calculation will now be done using the fair value as follows:

Total fair value of assets = $1,625,000 + 4,000,000 + 11,625,000 = $17,250,000

Total fair value of liabilities = $3,000,000 + 4,125,000 = $7,125,000

Fair Value of Miller Inc. Equity = $17,250,000 - $7,125,000 = $10,125,000

Goodwill from the acquisition = $12,000,000 - $10,125,000 = $1,875,000

The journal entries will look as follows:

<u>Details                                          Dr ($)                      Cr ($)          </u>

Goodwill                                   1,875,000

Miller Inc. Equity acquired      10,125,000

Cash                                                                         12,000,000

<u>To record the acquisition Miller Inc.                                                 </u>

7 0
1 year ago
The Jensen family has owned Jensen's Country Furnishings since 1987 and Delores and Frank Jensen, grandparents and founders, mak
Levart [38]

Answer:

Top-Level Management

Explanation:

Your top management consists of CEOs, CFOs, Presidents and vice presidents, who are responsible for establishing the general management of an enterprise and ensuring that important organizational targets are accomplished.

5 0
2 years ago
In cell b17, enter a formula to calculate the amount budgeted for hotel accommodations. this amount is based on the # of nights,
Nimfa-mama [501]
I recently had this assignment and here are a couple of was to do this:

1st way (which is correct according to my grading):
= # of Nights*Hotel rate*(1+hotel tax rate)

2nd way (I got counted wrong for this one on my assignment):
=(hotel rate+(hotel rate*hotel tax rate))*Number of nights
3 0
1 year ago
The following information was drawn from the accounting records of Chapin Company. On January 1, Year 1, Chapin paid $56,000 cas
mote1985 [20]

Answer: Please refer to Explanation

Explanation:

a)

The truck was bought for $56,000 and has a 5 year useful value after which it will have a salvage value of $6,000.

Depreciation can therefore be calculated as,

= ( Cost - Salvage) / Useful life

= (56,000 - 6,000) / 5

= $10,000

It will be depreciated at $10,000 per year.

Recording it will be,

DR Depreciation $10,000

CR Accumulated Depreciation (Truck) $10,000

(To record Depreciation expense to the year)

b) The Book Value is calculated as the Original Cost less the Accumulated Depreciation.

The Accumulated Depreciation so far being the first year is only $10,000.

The Book Value therefore is,

= 56,000 - 10,000

= $46,000

c) It is estimated that 5% of Credit Sales will be Uncollectible. This will go into the Uncollectible Account Balance. This is done to cater for the possibility that some people will not pay the money they owe so if they don't, it is simply taken from this account.

Sales are $320,000 and 5% are estimated Uncollectible.

This means that,

= 320,000 * 5%

= $16,000 will be recorded in the Uncollectible Account Balance

Recording it looks like,

DR Uncollectible Account Expense $16,000

CR Allowance for Doubtful Accounts $16,000

(To record Uncollectible Account Expense)

d) The Net Realizable Value of the Receivables will be Receivables less the Uncollectible Account Expense which will be removed to reflect the belief that some debtors will default.

Receivables are $68,000 and the Uncollectible Amount is $ 16,000.

Net Realizable Value = 68,000 - 16,000

Net Realizable Value = $52,000

6 0
2 years ago
Alex Company prepares its statement of cash flows using the direct method for operating activities. For the year ended December
SpyIntel [72]

Answer:

The amount of cash collections from customers reported by Alex company for the year ended December 31, 2018 is $4,125,000.

Explanation:

Cash collection refers to the collection of cash from from an individual or a business whom invoice has been issued to. Any invoice unpaid are noted as being outstanding.

Cash collection fomular is therefore;

Cash collection = Sales on account + Cash sales + Decrease in accounts receivable

=$2,100,000 +$1,110,000 + $915,000

=$4,125,000

4 0
2 years ago
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