After being served with a summons and a copy of the complaint, what follows next?

Business

1 answer:

Wewaii [24]2 years ago

6 0

Answer:

After being served with a summons and a copy of the complaint, one is expected to answer to these summons. After this, it is advised one goes to the court house and file it with the court. Ensure a copy of your answers are sent to the plaintiff. Answering summons on time gives one an edge and thus, the plaintiff would not be able to request a default judgment.

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ABC Company sold the rights to use one of their patented processes that will result in them receiving cash payments of $10,000 a

BigorU [14]

Answer:

$77,217

$11,289

Explanation:

Fist we will calculate the present value of $10,000 payment

A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity. The value of the annuity is also determined by the present value of annuity payment.

Formula for Present value of annuity is as follow

PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]

Where

P = Annual payment = $10,000

r = rate of return = 10% / 2 = 5%

n = number of period = 5 years x 2 semiannual payments per year = 10 payments

PV of annuity = $10,000 x [ ( 1- ( 1+ 0.05 )^-10 ) / 0.05 ]

PV of Annuity = $77,217

Now we will use the discounting method to calculate the present value of lump sum payment of $20,000

Present value = Future value x Present value factor

PV = FV x ( 1 + r )^-n

PV = $20,000 x ( 1 + 0.1 )^-6

PV = $11,289

6 0

3 years ago

Will the current market situation cause the price to go up, go down, or stay the same?

dusya [7]

Because Demand is up and supply is down companies are going to start demanding a higher price for their product since there are less on the market

5 0

3 years ago

Q 9.26: Crawford Trucking plans to dispose of two trucks in 2018. They sell the first truck on January 2 and the second truck on

deff fn [24]

Answer:

Crawford Trucking

Calculation of book value for disposal of two vehicles:

a) The Truck sold on January 2 would not have depreciation expenses computed for it. The book value on January 1 would be the same on January 2. It is not practical to compute depreciation expense for 1 day.

b) The Truck sold on July 9 would have depreciation computed for the year 2018 pro rated for six months. The book value would be less than the Truck sold on January 2.

Explanation:

Depreciation expense may be pro rated depending on the prevailing circumstances. This becomes necessary because the sold unit may not be fully utilized for the period under review. Under the matching principle of generally accepted accounting principles, it is imperative to match revenue to the period they were incurred.

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3 years ago

Economic expansion throughout the rest of the world raises the world interest rate. Use the Mundell–Fleming model to illustrate

Kobotan [32]

Answer: The answer is provided below

Explanation:

The fiscal expansion in the rest of the world will lead to an increase in the world interest rate and a decrease in the domestic investment.

As a result, a rise in the world interest rate will lead to an increase in the national income and also lower the nominal exchange rate.

The diagram has been attached.