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3 years ago

Which crime is BEST represented by the following situation?

Business

1 answer:

Shtirlitz [24]3 years ago

4 0

Answer:

The answer is C. Money Laundering

Explanation:

Solution

From the question stated it can be described as a crime of money laundering.

Money laundering involves the use of illegally obtained money for legitimate purposes.

In this scenario, Jeff uses $15,000 from his illegal sales of drug paraphernalia for setting up a toy store. The origin of the money, which was obtained through illegal method was hidden.

Robbery and larceny are examples of theft that involves stealing items of value from another person. Embezzlement is also a kind of theft. It involves withholding of items with the intention of theft .

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Illustrate the effects of each of the transactions on the accounts and financial statements of Snipes Company.

Lesechka [4]

Answer:

Snipes Company

Effects of each transaction on the accounts and the financial statements of Snipes Company:

Balance Sheet Income Statement Statement of

Cash Flows

Assets = Liabilities + Equity Revenue - Expense = Profit

+ $18,250 = 0 + $18,250 + $18,250 - 0 + $18,250

Accounts receivable $18,250 Sales revenue $18,250

Assets = Liabilities + Equity Revenue - Expense = Profit

-$10,000 = 0 - $10,000 0 - $10,000

Cost of goods sold $10,000 Inventory $10,000

Assets = Liabilities + Equity Revenue - Expense = Profit

-$400 0 -$400 0 -$400 -$400 Operating activity

Transportation-out expense $400 Cash $400

Explanation:

a) Data and Analysis:

Accounts receivable $18,250 Sales revenue $18,250

Cost of goods sold $10,000 Inventory $10,000

Transportation-out expense $400 Cash $400

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2 years ago

Eastevan Company calculated its return on investment as 10 percent. Sales are now $300,000, and the amount of total operating as

galben [10]

Answer:

a) 18.75%

b) $ 149333.33

Explanation:

Given:

Return on investment = 10% = 0.1

Total sales = $ 300000

Total operating assets = $ 320000

Reduction in expenses = $ 28000

a) The return on investment is calculated as:

Return on investment = Net income/ operating assets

on substituting the values, we get

0.1 = Net income/ $ 320000

Net income = 0.1 × $ 320000

Net income = $ 32000

The reduction in expenses is the amount that has been gained i.e the net income will increase

thus, the net income = $ 32000 + $ 28000 = $ 60000

now,

the return on investment for the latest net income will be

Return = $ 60000/$320,000

Return = 18.75%

b) for the condition given in the second case

we have

Return = 18.75%

Net income = $ 32000

Return = Net income/ operating asset

18.75% = $32000/ operating asset

Operating asset = $32000/0.1875

Operating assets = $ 170666.67

Now, the decrease of the operating asset from the actual asset = $ 320000 - $ 170666.67 = $ 149333.33

Thus, the operating cost must decrease by $ 149333.33

3 0

3 years ago

Johnson lives near Dollywood, a popular theme park in Tennessee. Johnson decides to begin a new money-making venture selling scr

Stells [14]

The business venture created by Johnson is effectively s sole proprietorship.

<h3>What is a sole proprietorship?</h3>

A sole proprietorship is a type of business venture that is owned by a single individual. A sole proprietorship has an unlimited liability. This means that when the business is unable to meet its debt obligations, the properties of the sole proprietor can be used to settle the debt.

To learn more about sole proprietorship, please check: brainly.com/question/15132409

5 0

2 years ago

Which of the following is NOT a category of barriers to interpersonal communication?a. individual differences among employeesb.

inysia [295]

Answer:

d. informal communication networks, such as the grapevine

Explanation:

Barriers to interpersonal communication are arises when a perosn has lack of self-awareness, Sensitivity, and flexibility. These barriers affect the teamwork and efficiency of each team member and a whole team as well. individual differences among employees, situational factors such as outside noise, and transmission problems, such as telephone static are examples of barriers to interpersonal communication.

4 0

3 years ago

Shelton, Inc. has sales of $435,000, costs of $216,000, depreciation expense of $40,000, interest expense of $21,000, and a tax

sattari [20]

Answer:

a. Net income = $107,200

b. Addition to retained earnings = $72,700

Explanation:

a. What is the net income for the firm?

Net income which also referred to a s net earnings is estimated by deducting cost of goods sold, selling and distribution expenses, administrative expenses, depreciation expenses, interest expenses, taxes, and other relevant expenses from sales.

b. What is the addition to retained earnings?

Addition to retained earnings is obtained by deducting the cash dividends from the net income.

For this question, the net income and addition to retained earnings can be calculated by preparing an income statement as follows:

Shelton, Inc.

Income Statement

For the year ....

Particulars $

Sales 435,000

Costs of sales (216,000)

Gross profit 219,000

Depreciation expense (40,000)

Interest expense (21,000)

Income before tax 158,000

Tax ($158,000 * 35%) (55.300)

Net income 102,700

Cash dividends (30,000)

Addition to retained earnings  72,700 

Therefore, Net income is $107,200, and addition to retained earnings is $72,700.

4 0

2 years ago