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Juli2301 [7.4K]
3 years ago
8

Ace Corporation engaged Kosier, CPA, to perform a consulting engagement. While driving to Ace's office, Kosier was involved in a

n automobile accident in which Norton was injured. The accident was solely Kosiers fault. If Norton sues both Ace and Kosier for the injuries Norton sustained, what will be the result?
Business
1 answer:
Keith_Richards [23]3 years ago
5 0

Answer:

The correct answer is B. Correct! Since Ace is not in control of the actions of Kosier (an independent contractor), Ace would  generally not be responsible for Kosier's torts.

Explanation:

An independent contractor is a person who is hired to do a specific job. It is said that she is her own boss because she controls how and where the work is done.

These people have greater freedom and only undertake to perform the specific function they agreed with the person owning a company. For example, the independent contractor agrees that he will serve clients at a 9 a.m. store. at 1 p.m. or that he will go to the meetings and prepare a report on the subject assigned to him. Outside these specific functions, the independent contractor controls how he manages his time.

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The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue $ 460,000 Loss on sale of
dalvyx [7]

Answer:

a) Operating Income = $73,000

b) Net income before income tax = $25,500

Explanation:

First part of the question is to determine the operating income or loss of the business

It is calculated as follows

Particulars                                          Amount

Sales Revenue                                  $460,000

Subtract: Cost of goods sold           ($240,000)

General and Administrative exp.       ($56,000)

Restructuring Costs                             ($58,000)

Selling Expenses                                  ($33,000)

Operating Income                             $73,000

Second part is to determine the income or loss before income taxes

Particulars                                            Amount

Operating Income                                 $73,000

Add: Interest Revenue                         $6,500

Deduct:Loss on sales of investment  ($54,000)

Income before Income Tax                  $25,500

Finally, the Net Income or loss after Income tax

$25,500 x .25 = $6,375

7 0
2 years ago
The eu became an economic union when the ____ went into effect in 1993.
PilotLPTM [1.2K]
Answer: <span>Maastricht Treaty</span>
7 0
3 years ago
I'm new here. What do I do? I dont even know anyone
riadik2000 [5.3K]

Answer:

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Explanation:

4 0
2 years ago
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An investment made 10 years ago is worth $100,000. if the annual return over these 10 years was 7.20%, then the original investm
GenaCL600 [577]

The original investment amount was $ 68.56 then annual return on investment is 10 years was 7.20% interest.

What is investment?

Investment definition is assets invested in to build wealth and save money on bank, property and projects for specific time period of money.

PV is a present value, FV is a future value, i is interest, n is number of period

PV= FV/ (1 + i) n

PV= 1, 00,000 / (1+7.20%) 10

PV =68.5650014087

As a result, the original amount of investment is 68. 56

Learn more about on investment, here:

brainly.com/question/15353704

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7 0
1 year ago
Harrison Enterprises currently produces 8,000 units of part B13. Current unit costs for part B13 are as follows: Direct material
Yakvenalex [24]

Answer:

It is cheaper to make the part in house.

Explanation:

Giving the following information:

Harrison Enterprises currently produces 8,000 units of part B13.

Current unit costs for part B13 are as follows:

Direct materials $12

Direct labor 9

Factory rent 7

Administrative costs 10

General factory overhead (allocated) 7

Total $45

If Harrison decides to buy part B13, 50% of the administrative costs would be avoided.

To calculate whether it is better to make the par in-house or buy, we need to determine which costs are unavoidable.

Unavoidable costs:

Factory rent= 7

Administrative costs= 5

General factory overhead= 7

Total= 17

Now, we can calculate the unitary cost of making the product in-house:

Unitary cost= direct material + direct labor + avoidable administrative costs

Unitary cost= 7 + 5 + 5= $17

It is cheaper to make the part in house.

3 0
3 years ago
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