Answer:
The answer to this question is c. Kathy has to pay based on a quasi contract.
Explanation:
Based on the scenario displayed above Kathy has to pay based on a quasi contract.
A Quasi contract is a contract that is created by a court order, not by an agreement made by the parties to the contract. For example, quasi contracts are created by the court when no official agreement exists between the parties, in disputes over payments for goods or services
In this case there has not been an official agreement between Kathy and the hospital, However she has to pay the bill presented to her based on Quasi contract which is created to prevent an individual to be unjustly enriched or from benefiting from the situation when he/she does not deserve to do so.
Hence the answer is c. Kathy has to pay based on a quasi contract.
Answer:
The depreciation expense for year 1 is $16,000
Explanation:
Depreciation: The depreciation was occurred due to tear and wear, obsolesce, time period, etc
Under the straight-line method, the depreciation should be charged with the same amount over the useful life.
The calculation is shown below:
= 
= 
= $16,000
The depreciation should be charged for $16,000 in year 1. Moreover, it is shown in the income statement in the debit side and in the cash flow statement also.
There are two different options I would give her:
1) You can use your credit card now if you know that within the 30 days of purchasing the T.V. (or how ever many days until interest accrues if sooner) you will have enough money to properly pay your card off so that you aren't charged interest. Once you add interest, the T.V. becomes a much larger expense overtime due to paying the interest. Also, if it's a card that you get cash back for, you can 'make money' essential on your purchase because you'll get cash back.
2) Wait for the raise, what if the raise doesn't happen? What if something unexpected happens and you've used all your funds for a T.V. that isn't a necessity. There are so many reason to wait and pay cash for something. In this situation I probably wouldn't use all of my appropriated emergency funds for a T.V. and save the extra money from the raise.
Answer:
The correct word for the blank space is: market cannibalization.
Explanation:
Market cannibalization refers to the loss of revenues as a result of the introduction of a new product by the same company. The initial purpose of the firm is to spread its market share but the product introduced is so similar or covers the same need than the previous that it ends up replacing it instead of acquiring more consumers.
Market cannibalization also takes place when franchises of the same firm open stores too close to each other than one of them ends up capturing all consumers which replace the first store operating in the area.
Answer and Explanation:
The journal entry is given below:
Work in process inventory Dr $100,000
To raw material inventory $100,000
(being the usage of the direct material is recorded)
here the work in process is debited as it increased the assets and credited the raw material inventory as it decreased the assets
