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Andrej [43]
3 years ago
9

Jay and jim spears own a lawn irrigation system business. they perform installations and maintenance of these systems. several o

f their customers are golf courses, but they serve a large group of residential customers as well. when they started the business 10 years ago, they made a pact to always operate within the legal limits of the law, but lately, the competition is eating them alive. local competitors have hired illegal immigrants to perform the manual labor. they do not pay taxes on these employees; they just pay them in cash at the end of the week. employment taxes are a burden for small businesses. jay and jim do not want to hire illegal workers. there's a risk if you permit an illegal worker to drive a truck, or if he/she has an accident on the job. you have just studied business ethics in your class. you inform this partnership that:
Business
1 answer:
Stells [14]3 years ago
8 0

 

Jay and Jim does not only take a chance that a bigger problem may occur, since they foresee that there is a risk if they permit an illegal worker to drive a truck and has an accident on the job but they are also indirectly setting the ethics code for their firm.





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A. Construct an amortization schedule for the $300,000 loan with a 2.2% interest rate compounded monthly. The loan will be paid
Gala2k [10]

Answer:

since there is not enough room here, I prepared two amortization schedules on an excel spreadsheet and I attached them

Explanation:

in order to determine the monthly payment, we can use the formula to calculate present value of an annuity:

PV = annuity payment x annuity factor

annuity payment = PV / annuity factor

  • PV = $300,000
  • annuity factor for 2.2% / 12 = 0.18333% and 180 periods = 153.1964438

I used an annuity calculator to determine the annuity factor

annuity payment = $300,000 / 153.1964438 = $1,958.27

we use the same formulas for the second question:

PV = annuity payment x annuity factor

annuity payment = PV / annuity factor

  • PV = $300,000
  • annuity factor for 2.7% / 12 = 0.225% and 360 periods = 246.54977

I used an annuity calculator to determine the annuity factor

annuity payment = $300,000 / 246.54977 = $1,216.79

Download pdf
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>
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7 0
3 years ago
When the economy entered a serious recession in 2008, the response of the U.S. government was to institute a $700 billion bailou
lakkis [162]

Answer:

functional finance and expansionary fiscal policy

Explanation:

Functional finance is an economic theory proposed by Abba P. Lerner, based on the principles of efficient demand and chartalism. It states that government should finance itself to accomplish explicit goals such as subduing the business cycle, reaching high employment, guaranteeing development and low inflation.

Expansionary fiscal policy is a type of fiscal policy involving a reduction in taxes, an increase in government spending, or both, to counter recessionary pressure. A reduction in taxes means households have more disposal funds to spend

6 0
3 years ago
A raffle is being held at a benefit concert. The prizes are awarded as follows: 1 grand prize of $8,900.00, 3 prizes of $680.00,
12345 [234]

Answer:

The expected value of raffles will be - $1.199.

Explanation:

A raffle is being held at a benefit concert.

The prizes awarded are: 1 grand prize of $8,900.00, 3 prizes of $680.00, 8 prize of $95.00, and 15 prizes of $25.00.

15000 raffle tickets are sold. A person buys one ticket for $2.

Expected Value of raffle for that person

=[ \$8,900\ \times\ (1/15000)\ +\  \$680\ \times\ (3/15000)\ +\ \$95\ \times\ (8/15000)\ +\ \$25\ \times\ (15/15000)]\ -\ \$2

= $(0.59 + 0.136 + 0.050 + 0.025) - $2

= $0.801 - $2

= - $1.199

6 0
2 years ago
Read 2 more answers
Waterway Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $6
melamori03 [73]

Answer:

Estimated uncollectible account at end = $602,000 * 0.03

Estimated uncollectible account at end = $18,060

Bad debt expense to be recorded = Estimated uncollectible - Balance in allowance account

Bad debt expense to be recorded = $18,060 - $5,000

Bad debt expense to be recorded = $13,060

Date  Journal Entry                                        Debit      Credit

         Bad Debt Expense                             $13,060

             Allowance for Doubtful Accounts                 $13,060

6 0
3 years ago
Presented below are selected transactions at Windsor, Inc. for 2019. Jan. 1 Retired a piece of machinery that was purchased on J
myrzilka [38]

Answer:

All journal entries are given below

Explanation:

A. Retired a piece of machinery

Entry                                           DEBIT       CREDIT

Accumulated depreciation     $60,600

Machinery                                                   $60,600    

B. Depreciation for expense for computer sold

Entry                                           DEBIT       CREDIT

Depreciation expense             $4,020

Accumulated depreciation                          $4,020

Working

Depreciation = (40,200/5year) x6/12

Depreciation = $4,020

C. Disposal of computer

Entry                                             DEBIT       CREDIT

Cash                                            $13,800

Accumulated depreciation(w)    $28,140

Gain on disposal                                            $1,740

Computer                                                       $40,200

Workings;-

Accumulated depreciation = depreciation expense per year x number of years

Accumulated depreciation = $8040 x 3.5years = $28,140

D.  depreciation of delivery truck

Entry                                          DEBIT       CREDIT

Depreciation expense             $6,360

Accumulated depreciation                          $6,360

E.  Dicarded delivery truck

Entry                                             DEBIT       CREDIT

Accumulated depreciation(w)   $31,180

Loss on discarded truck            $9,360

Delivery truck                                             $41,160

Workings;-

Accumulated depreciation = depreciation expense per year x number of years

Accumulated depreciation = $6,360 x 5

Accumulated depreciation = $31,180

4 0
3 years ago
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