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Over [174]
3 years ago
14

Date: May 10

Business
1 answer:
GuDViN [60]3 years ago
7 0

(1) c. Offers a negative-sounding apology

(2) c. Fails to offer a clear explanation

Explanation:

At the closing part of the letter, a negative sounding apology can demoralize the employees.

Hubert should have offered a well-informed explanation without sounding negative.

The letter can be re-written as follows:

Date: May 10

To: All Employees

From: Anne Leller Manager, Classic Car Restoration Inc.

Subject: Three Shelby Mustangs

You all have to work overtime next week because we must have the three 1965 Shelby Mustangs ready for Bruce Willis, one of our best clients.

We need to make sure to use all original engine parts and add a top-of-the-line clear coat on all three cars.

Additionally, the client purchased the original radios for each car, so we should install those too.

I apologize for any inconvenience, unfortunately, I am unwilling to make exceptions to this request at this point of time. However, you will surely receive an additional bonus for working overtime along with your salary.

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Closing entries transfer the balances of all temporary accounts (revenues, expenses, and dividends) to the Common Stock account.
qaws [65]

Answer:

False

Explanation:

False because the income, expenses accounts are closed to profit and loss account or income summary.

they are closed by transferring the  credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.

The assets and liabilities , common stock, equity account are not closed.

3 0
3 years ago
John occasionally borrows the car of his friend, Sophie. Sophie has a PAP with liability limits of 100/300/50. John also has a P
Tamiku [17]

Answer:

Sophie's policy will pay up to its maximum amount of $100,000 and John's policy should pay the rest ($200,000).

Explanation:

Personal Auto Policies (PAP) provide coverage in case of injury to the insured or other third parties involved in a car accident. PAP policies provide coverage even when you occasional borrow a car. If you regularly drive someone else's car you need extended non owned liability coverage endorsement.

3 0
3 years ago
Granfield Company has a piece of manufacturing equipment with a book value of $35,500 and a remaining useful life of four years.
Doss [256]

Answer: Option (e) is correct.

Explanation:

Given that,

Book value of manufacturing equipment = $35,500

Current market value of equipment = $21,100

Cost of new machine = $111,000

cash received from trading old machine = $21,100

Variable manufacturing costs of new machine reduce by $18,100 per year over the four-year =

Total increase/decrease in net income = Cost of new machine + cash received from trading old machine + Reduction in Variable manufacturing costs

                                                =  ($111,000) + $21,100 + $18,100 × 4

                                                = ($17,500)

Note: Bracket represents the negative values.

∴ The total decrease in net income by replacing the current machine with the new machine is $17,500.

7 0
3 years ago
Sharon Corporation redeems 20 shares of Kevin's common stock. Kevin directly owned 50 shares prior to the redemption. Kevin is a
alexdok [17]

Answer:

75 shares

Explanation:

In this specific scenario, it seems that Kevin is treated to 75 shares prior to the redemption. This is calculated by adding the 50 shares that Kevin holds directly prior to the redemption itself as well as the 25 extra shares that are held by AMI. These 25 shares are 50% of the total 50 shares that AMI holds since Kevin is a 50% partner.

4 0
3 years ago
Stealth Fitness Center issues 7%, 15-year bonds with a face amount of $200,000. The market interest rate for bonds of similar ri
Vladimir [108]

Answer:

market price of bonds = $219,597.35

Explanation:

Since the coupon rate is higher than the market rate, the bonds will be sold at a premium.

PV of face value = $200,000 / (1 + 3%)³⁰ = $82,397.35

PV of coupon payments = $7,000 x 19.600 (PV annuity factor, 3%, 30 periods) = $137,200

market price of bonds = $219,597.35

8 0
2 years ago
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