Answer:
Ideally, the drunk driver who hit them while he was driving on the wrong lane is liable for the damages and not McLaughlin since he was sober and civil.
Explanation:
Liability for damages resulting from car accident usually falls on a negligent driver an din this case, McLaughlin is not the negligent one.
However, the situation is tricky here since he is not the owner of the car.
The majority of car accidents are caused by driver negligence, poor road conditions, or a problem or defect with one of the automobiles involved.
If his friend has a car insurance, that will cover for the damages as well.
And if the drunk driver finds a way to escape with a strong case, and in the absence of a car insurance, McLaughlin might be obligated to pay for the damages since the car was borrowed.
This is not a good investment and Charles should hold his plan of selling his bicycle Beijing and in China. For example, if Charles sold his bicycle horn for $3.00, this would need a 6.42*3 which is equal to 19.26 Chinese yuan.
Answer:
Increasing progressive taxes in order to redistribute income may be seen as a fair and noble thing, but such measure may have several unintended consequences.
Explanation:
One consequence is that if taxes are raised too high on the highest earners, these people may simply leave the country for another one where taxes are lower. Wealthy people have the means to do so in the modern economy.
Another consequence would occurr if the taxes are raised too high on corporations. Corporations may either leave the country as well, or pass through the higher costs to the consumers.
All in all, progressive taxation is seen as a fair system by many economists, but it should be implemented with care, and by making cost/benefit analysis first.
Answer:
a. 41.6 million
b. 42.28 million
Explanation:
The computations are shown below:
a. For the forecast for July month:
= Number of checks received in June × smoothing constant + (1 - smoothing constant) × forecast in June
= 40 million × 0.2 + (1 - 0.2) × 42 million
= 8 million + 33.6 million
= 41.6 million
b. For the forecast for August month:
= Number of checks received in July × smoothing constant + (1 - smoothing constant) × forecast in July
= 45 million × 0.2 + (1 - 0.2) × 41.6 million
= 9 million + 33.28 million
= 42.28 million
c. In this, the exponential method is used. But in the given situation we use linear forecasting method
Answer:
a. Net income in 2014 is $5.00 million; Net income in 2015 is $11.25 million; and Net income in 2016 is $8.75million.
b. The best summary is that under generally accepted accounting principles (GAAP), the cost-to-cost method is a method that is acceptable to be applied to contracts that span more than one accounting period.
Therefore, the cost-to-cost method is employed in calculating the revenue and net income for Frankel Construction for each of the years 2014, 2015 and 2016.
Explanation:
a. Calculate the amount of revenue, expense, and net income for each of the three years 2014 through 2016 using the cost-to-cost method.
Note: See the attached excel file for the calculations.
Cost-to-cost method can be described as a cost and revenue recognition approach in which all costs recorded to date on a project are divided by the total expected costs to be incurred on the project in order to obtain the overall percentage of completion of the project which is employed in estimating revenue and net income.
b. What best summarizes our conclusion about the usefulness of the cost-to-cost method for this company?
The best summary is that under generally accepted accounting principles (GAAP), the cost-to-cost method is a method that is acceptable to be applied to contracts that span more than one accounting period.
In this question, the cost-to-cost method is employed in calculating the revenue and net income for this company for each of the year 2014, 2015 and 2016.
