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ICE Princess25 [194]
3 years ago
11

James Jones, a Florida health inspector, inspected, Caribbean Eats a restaurant owned by Tom Cruise. Jones found several health

violations in Caribbean East and fined Cruise accordingly. When Jones notified Cruise of the infractions, Jones strongly suggested that $10,000 "would sure prove handy since he planned to take a month long cruise to Europe. Cruise understood Jones' obvious hint and offered Jones $5,000 if he would lose the paperwork concerning the failure of the restaurant to meet proper inspection guidelines. Jones accepted the $5,000 and lost the paperwork. Jones returned to the restaurant and told Cruise that he would reappear every month and find violations unless Cruise produced $1,000 each month. Cruise agreed to make the $1,000 payments. Using IRAC determine what crimes have been committed by Jones and Cruise?
Business
1 answer:
Leto [7]3 years ago
7 0
IRAC stands for Issue, Rule, Application, Conclusion

I'll just put out issues.

James Jones - corruption, extortion, and blackmail

Tom Cruise - health violations, bribery

Both conducted under the table negotiations. 
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Packages arrive at a facility at a rate of 30 per hour and are processed continuously at a rate of 25 per hour. The facility is
soldi70 [24.7K]

Answer:

1.6 hour

Explanation:

Given

Rate of Arrival =30 per hour

Rate of Processing = 25 per hour

Open Time = 8am

Close Time = 4pm

How long the last package has to wait before it is processed is calculated by;

Duration = ∆Time/∆Rate

∆Time = 4pm - 8am

∆Time = 8 hours

∆Rate = Rate of Arrival - Rate of Processing

∆Rate = 30 - 25

∆Rate = 5 per hour

Duration = 8 hours ÷ 5 per hour

Duration = 1.6 hours

3 0
3 years ago
Suppose you purchase a $5,000 bond that pays 7% interest annually and matures in five years. If the inflation rate during the ne
galina1969 [7]

Answer:

2.88%

Explanation:

Use the following formula to calculate the real rate of return

Real rate of return = \frac{( 1 + Nominal interest rate )}{( 1 + inflation rate)} -1

Where

Nominal Interest rate = 7% = 0.07

Inflation rate = 4% = 0.04

Placing values in the formula

Real rate of return = \frac{( 1 + 0.07 )}{( 1 + 0.04)} -1

Real rate of return = \frac{1.07}{1.04} -1

Real rate of return = 1.0288 - 1

Real rate of return = 0.0288

Real rate of return = 2.88%

8 0
3 years ago
Tate Company purchased equipment on November 1, 2020 and gave a 3-month, 9% note with a face value of $120,000. Tate’s year-end
goldfiish [28.3K]

Answer: Debit Interest Expense and credit Interest Payable, $1,800

Explanation:

The amount of time that has elapsed between the 1st of November and the 31st of December is 2 months.

This means that the interest over the last 2 months has to be calculated and recorded on the 31st of December.

Bear in mind that the 9% is an annual interest rate figure and so when calculating the interest, you must adjust for the amount of months in the year.

Interest owed for 2 months is,

= 9% * 2/12 (2 months have elapses out of 12 months in the year) * $120,000

= $1,800

Interest owed is $1,800.

The correct entry will therefore be,

Dec 31

DR Interest Expense $1,800

CR Interest Payable $1,800

( To record interest payable on note)

5 0
3 years ago
Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated
Ghella [55]

Answer and Explanation:

The computation of the overhead rate for each activity is as follows;

Overhead rate is

= Respective overhead cost ÷ Respective activity

For Machine setups

= ($202,800 ÷ 2,600 setups)

= $78 per setup

For Machining

= ($364,500 ÷ 24,300 machine hours)

= $15 per machine hour

For Inspection

= ($88,000 ÷ 1,600 inspections)

= $55 per inspection

In this way it is calculated

5 0
3 years ago
During the current year, Lyle Co. incurred $204,000 of research and development costs in its laboratory to develop a patent that
valentina_108 [34]

Answer:

It will capitalize 245,000 to recognize the patent intangible asset

Explanation:

It will capitalize the entire research adn development cost as well as the fees and registration cost as are part of the incurred cost needed to obtain the patent

Therefore: 204,000 + 41,000 = 245,000

8 0
3 years ago
Read 2 more answers
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