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3 years ago

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

Business

1 answer:

Wewaii [24]3 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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The Country Fields Retirement Community charges $6000/month for a single senior citizen to reside in an efficiency apartment wit

Karolina [17]

Answer:

a) 300

b) $100,000

Explanation:

Data provided in the question:

Charges by Country Fields Retirement Community per senior citizen = $6000/ month

Operating expenses = $600,000 per month

Cost for each person = $4000 per person per month.

Now,

a) Let the break even number of senior citizen residents be 'x'

Now,

At break even

Total revenue = Total cost

Thus,

$6000x = $600,000 + $4,000x

$2000x = $600,000

x = 300

b) Total profit or loss = Total revenue - Total cost

for 350 senior citizens

Total profit or loss = ($6,000 × 350 ) - ($600,000 + $4,000 × 350)

= $2,100,000 - $2,000,000

= $100,000 [Positive value means profit]

8 0

4 years ago

An investor sells short 200 shares of ABC stock at $5.25 a share. He sells two put contracts (100 shares each) with a striking p

lakkis [162]

Answer:

The solution of the given query is provided below in the explanation segment.

Explanation:

(a)

The diagram according to the given query is attached below.

(b)

Given:

Investor sells,

= 200 shares

at,

= $5.25

Strike price,

= $5

Premium,

= $0.50

If the price is less than $5 is $.75 per share,

The investor's gain will be:

= $200\times 0.75$

= $150$ ($)

(c)

The investor would earn under $5.25 upon expiry, as longer as the spot price becomes less.

3 0

3 years ago

For each of the unrelated transactions described below, present the entries required to record each transaction.

Mars2501 [29]

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

1. Cash Dr, $19,618,250

Discount on bonds payable Dr, $606,750

To Bonds payable $20,225,000

(Being Bonds issued is recorded)

Working Note:-

Cash = ($20,225,000 × (97 ÷ 100)

= $19,618,250

So, the bonds has been issued a discount. The par value of the bonds is 100.

2. Cash Dr, $19,416,000

Discount on bonds payable Dr, $1,820,250

To Bonds payable $20,225,000

To Paid in capital share warrants $1,011,250

(Being bonds issued is recorded)

Working Note:-

The Value of bonds issued at a discount

So, value of bonds = ($20,225,000 × ($96 ÷ $100)

= $19,416,000

Now, Value of warrants = ($20,225,000 ÷ 100) × $5

= $1,011,250

Total value of bonds including warrants = Value of bonds + Value of warrants

= $19,416,000 + $1,011,250

= $21,236,250

3. Debt conversion expense Dr, $78,300

Bonds payable Dr, $10,342,000

To discount payable $58,600

To common stock $1,034,200

To paid in capital in excess

of common stock $9,249,200

To cash $78,300

(Being debt conversion is recorded)

6 0

3 years ago

Amesha will only purchase stock in corporations that practice and support social justice. which term refers to Amesha's type of

mixer [17]

Answer:

A. Socially Responsible

7 0

3 years ago

Mark is the inventory-control manager at Shield Corp. He usually places an order for steel rods based on the firm's daily requir

diamong [38]

Answer:

b. just-in-time inventory management

Explanation:

Just in Time (JIT) inventory relates to an inventory control program with the goal of making inventory conveniently able to meet demand, just not to the extent of overload where you have to store extra items. JIT inventory has been used to better cut costs, open up storage space, and reduce error levels.

8 0

4 years ago