ZK
Zybrea Knight
Answers (7)
ZK
Answered
As mentioned in the case in the text,Steinberg v.U.S. ,in deciding whether consideration to form a contract exists,a court must determine whether:
A) the consideration given by each party is of roughly equal value.
B) the consideration conforms to the subjective intent of the parties.
C) the consideration has sufficient monetary value.
D) the benefit was bargained for.
A) the consideration given by each party is of roughly equal value.
B) the consideration conforms to the subjective intent of the parties.
C) the consideration has sufficient monetary value.
D) the benefit was bargained for.
On Aug 02, 2024
D
ZK
Answered
Vanessa had been a waitress at Joe's Good Eats for seven years. There had always been differences between Vanessa and Joe because they had radically different views on politics, religion, and sports, but he had always overlooked these differences because he liked her and she was a good waitress. However, one busy day with the restaurant full of customers, he began ranting about city politics. Vanessa whispered, "Please, Joe, you know I don't agree." It ended with Joe yelling, "I've had it with your radical ideas. Get out!" So Vanessa left. The employees at Joe's were not unionized. If Vanessa sues for unlawful dismissal, she will be entitled to damages equivalent to which of the following?
A) The amount that would have been paid during a reasonable notice period less any amounts received from other employment
B) The amount of pay received in one pay period (e.g., one month if paid monthly)
C) One week's pay (the statutory minimum)
D) Nothing
E) Her regular pay until she finds another job
A) The amount that would have been paid during a reasonable notice period less any amounts received from other employment
B) The amount of pay received in one pay period (e.g., one month if paid monthly)
C) One week's pay (the statutory minimum)
D) Nothing
E) Her regular pay until she finds another job
On Jul 05, 2024
A
ZK
Answered
Enriching jobs through vertical loading can be accomplished by allowing people to do complete units of work, removing controls that limit people's discretion in their work, granting employees authority to make decisions regarding their work, and providing performance feedback.
On Jul 02, 2024
True
ZK
Answered
Banks minimize the risk of loss to depositors by:
A) lending to government officials.
B) making many different loans to different borrowers.
C) refusing to lend money to the U.S.government.
D) lending to the richest 1 percent of the population.
E) making very long-term loans.
A) lending to government officials.
B) making many different loans to different borrowers.
C) refusing to lend money to the U.S.government.
D) lending to the richest 1 percent of the population.
E) making very long-term loans.
On Jun 05, 2024
B
ZK
Answered
Insko and his colleagues' studies of conflict indicate that
A) groups have a subduing effect on individuals,so they tend to inhibit conflict.
B) intragroup conflict is stronger than intergroup conflict.
C) interacting groups are more competitive than individuals.
D) competition over resources inhibits conflict.
E) pairs are more competitive than triads.
A) groups have a subduing effect on individuals,so they tend to inhibit conflict.
B) intragroup conflict is stronger than intergroup conflict.
C) interacting groups are more competitive than individuals.
D) competition over resources inhibits conflict.
E) pairs are more competitive than triads.
On Jun 02, 2024
C
ZK
Answered
Determine the basis of stock in the hands of the shareholder,the basis to the corporation of the contributed property,and the gain,if any,to the shareholder in each of the following independent cases.In all cases,assume that the 80% test is met.
a.Pierre contributes a vehicle with a FMV of $6,000 and basis of $8,000.
b.Marcus contributes land with a FMV of $500,000,basis of $300,000,and debt of $250,000.
c.Same as b.except Marcus also receives cash of $25,000.
d.Patricia contributes an apartment building with a FMV of $200,000,basis of $50,000,and debt of $125,000.
a.Pierre contributes a vehicle with a FMV of $6,000 and basis of $8,000.
b.Marcus contributes land with a FMV of $500,000,basis of $300,000,and debt of $250,000.
c.Same as b.except Marcus also receives cash of $25,000.
d.Patricia contributes an apartment building with a FMV of $200,000,basis of $50,000,and debt of $125,000.
On May 06, 2024
a.Shareholder basis in stock = $8,000;basis of asset to corporation = $8,000;gain to shareholder = $0.
b.Shareholder basis in stock = $50,000 ($300,000 original basis minus $250,000 liability relief);basis of asset to corporation = $300,000;gain to shareholder = $0.
c.Shareholder basis in stock = $50,000 ($300,000 original basis,minus $250,000 liability relief,minus $25,000 cash received,plus $25,000 gain recognized);basis of both assets (the land and the cash)to corporation = $325,000;gain to shareholder = $25,000.
d.Shareholder basis in stock = $0;basis of asset to corporation = $125,000;gain to shareholder = $75,000.
The transferor records a gain if either (1)property subject to a liability is transferred and the liability is in excess of the property's basis or (2)if the transferor receives stock plus other property.In the second case,the gain is equal to the lower of the FMV of the property received or the implied gain on the property transferred to the corporation.
The basis of the stock in the hands of the shareholder is equal to the basis of the property contributed,plus any gain recognized,minus any boot received (boot includes relief of liability).
The basis to the corporate entity of the cash or property received is equal to the basis in the hands of the shareholder plus any gain recognized by the shareholder.
b.Shareholder basis in stock = $50,000 ($300,000 original basis minus $250,000 liability relief);basis of asset to corporation = $300,000;gain to shareholder = $0.
c.Shareholder basis in stock = $50,000 ($300,000 original basis,minus $250,000 liability relief,minus $25,000 cash received,plus $25,000 gain recognized);basis of both assets (the land and the cash)to corporation = $325,000;gain to shareholder = $25,000.
d.Shareholder basis in stock = $0;basis of asset to corporation = $125,000;gain to shareholder = $75,000.
The transferor records a gain if either (1)property subject to a liability is transferred and the liability is in excess of the property's basis or (2)if the transferor receives stock plus other property.In the second case,the gain is equal to the lower of the FMV of the property received or the implied gain on the property transferred to the corporation.
The basis of the stock in the hands of the shareholder is equal to the basis of the property contributed,plus any gain recognized,minus any boot received (boot includes relief of liability).
The basis to the corporate entity of the cash or property received is equal to the basis in the hands of the shareholder plus any gain recognized by the shareholder.
ZK
Answered
Sunrise Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal. Record the following transactions for the first two weeks in March, total the columns, and include the posting references. A partial chart of accounts is given below. After recording the transactions, indicate if there are any additional columns you would add to this journal.? Cash Receipts Journal Date Account Credited Post. Ref. Other Accounts Cr. Beverage Revenue Cr. Food Revenue Cr. Cash Cr. \textbf { Cash Receipts Journal }\\\begin{array}{|c|c|c|c|c|c|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Credited }\end{array} & \begin{array}{c}\text { Post. } \\\text { Ref. }\end{array} & \begin{array}{c}\text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Beverage } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Food } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Cash } \\\text { Cr. }\end{array} \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline\end{array} Cash Receipts Journal Date Account Credited Post. Ref. Other Accounts Cr. Beverage Revenue Cr. Food Revenue Cr. Cash Cr. Mar.
1Cash received for beverages, $375.
1Cash received for food, $250.
1Cash received for customer sales of Sunrise's signature coffee mugs, $130.
7Cash received for beverages, $480.
7Cash received for food, $325.
7Cash received for customer sales of Sunrise's signature coffee mugs, $115.
10Cash received on account from Central.com, $900. ~~~~~~~~~~~~~~~~~~~~~~~~ Chart of Accounts (Partial)
10 Cash 41 Beverage Revenue 12 Accounts Receivable 42 Food Revenue 15 Retail Items 43 Retail Revenue \begin{array}{ll}\hline10 \text { Cash } & 41 \text { Beverage Revenue } \\12 \text { Accounts Receivable } & 42 \text { Food Revenue } \\15 \text { Retail Items } & 43 \text { Retail Revenue }\end{array}10 Cash 12 Accounts Receivable 15 Retail Items 41 Beverage Revenue 42 Food Revenue 43 Retail Revenue
1Cash received for beverages, $375.
1Cash received for food, $250.
1Cash received for customer sales of Sunrise's signature coffee mugs, $130.
7Cash received for beverages, $480.
7Cash received for food, $325.
7Cash received for customer sales of Sunrise's signature coffee mugs, $115.
10Cash received on account from Central.com, $900. ~~~~~~~~~~~~~~~~~~~~~~~~ Chart of Accounts (Partial)
10 Cash 41 Beverage Revenue 12 Accounts Receivable 42 Food Revenue 15 Retail Items 43 Retail Revenue \begin{array}{ll}\hline10 \text { Cash } & 41 \text { Beverage Revenue } \\12 \text { Accounts Receivable } & 42 \text { Food Revenue } \\15 \text { Retail Items } & 43 \text { Retail Revenue }\end{array}10 Cash 12 Accounts Receivable 15 Retail Items 41 Beverage Revenue 42 Food Revenue 43 Retail Revenue
On May 03, 2024
?Yes. Retail Revenue Cr. and possibly Accounts Receivable Cr. Cash Receipts Journal Date Account Credited Post. Ref. Other Cr. Beverage Revenue Cr. Food Revenue Cr. Cash Dr. Mar. 1 Cash sales 3753751 Cash sales 2502501 Retail Revenue 431301307 Cash sales 4804807 Cash sales 3253257 Retail Revenue 4311511510 A/R-Central.com 12/900‾________900‾1,1458555752,575(10)(41)(42)\textbf { Cash Receipts Journal }\\\begin{array}{l}\begin{array} { | r | l | c | c | r | r | r | } \hline & & \\\text { Date } & \text { Account Credited } & \begin{array} { c } \text { \text { Post. }} \\\text { Ref. }\end{array} & \begin{array} { c } \text { Other } \\\text { Cr. }\end{array}& \begin{array} { c } \text { Beverage } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array} { c } \text { Food } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array} { c } \text { Cash } \\\text { Dr. }\end{array} \\\hline \text { Mar. 1 } & \text { Cash sales } & \sqrt { } & & 375 & & 375 \\\hline 1 & \text { Cash sales } & \sqrt { } & & & 250 & 250 \\\hline 1 & \text { Retail Revenue } & 43 & 130 & & & 130 \\\hline 7 & \text { Cash sales } & \sqrt { } & & 480 & & 480 \\\hline 7 & \text { Cash sales } & \sqrt { } & & & 325 & 325 \\\hline 7 & \text { Retail Revenue } & 43 & 115 & & & 115 \\\hline 10 & \text { A/R-Central.com } & 12 / \sqrt { } & \underline{900} & \_\_\_\_& \_\_\_\_& \underline{900} \\\hline & & & \mathbf { 1 , 1 4 5 } & \mathbf { 8 5 5 } & \mathbf { 5 7 5 } & \mathbf { 2 , 5 7 5 } \\\hline & & & ( 10 ) & ( 41 ) & ( 42 ) & \sqrt { } \\\hline\end{array}\end{array} Cash Receipts Journal Date Mar. 1 1177710 Account Credited Cash sales Cash sales Retail Revenue Cash sales Cash sales Retail Revenue A/R-Central.com Post. Ref. 434312/ Other Cr. 1301159001,145(10) Beverage Revenue Cr. 375480____855(41) Food Revenue Cr. 250325____575(42) Cash Dr. 3752501304803251159002,575