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enyata [817]
3 years ago
6

Jill DesJardines experiences a broken leg when one of the wheels on her new in-line skates falls off as she is skating. The manu

facturer: a. is not liable because Jill assumed the risk of in-line skating. b. can disclaim all such liability for products such as these skates. c. is liable for a defective product. d. both a and b e. none of the above
Business
1 answer:
Anon25 [30]3 years ago
7 0

Answer:

c. is liable for a defective product.

Explanation:

The manufacturer can be held liable for a liability in a product which results into any form of injury or damage to the customer.

A defect refers to a kind of imperfection or fault in a product due to which such a product performs below par as per it's mentioned specifications.

In the given case, the customer bought in line skates and went out for skating. The wheels came off (which reflects a manufacturing defect), owing to which she fell and suffered a broken leg.

The injury is an outcome of product manufacturing defect for which the manufacturer shall be liable.

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Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shar
CaHeK987 [17]

Answer:

$504,000

Explanation:

Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shares of Vicker.

The consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2018 balances) as a result of this acquisition transaction will be:

Journal entries

Dr. Cash (12000 shares x $47)..................................$564,000

Cr. Common Stock (12,000 shares x $5).................................$60,000

Cr. Additional Paid-In Capital [(12,000 shares x ($47-$5)].$504,000

Being issue of common of $5 per share at the price of $47 per share

8 0
3 years ago
Freshmart, Inc., began the year with 250 units of inventory at a cost of $55 per unit using variable costing, produced 1,000 uni
Svetach [21]

Answer:

The net income will be "$36,250".

Explanation:

The given values are:

Administrative expenses

= $15,000

Fixed overhead costs

= $30,000

According to the question:

The sales will be:

=  1250 \ units\times 100 \ per \ units

=  125000

The production cost of the variable will be:

=  1250 \ units \times 25 \ per \ units

=  31250

Variable selling will be:

=  1250 \ units\times 10 \ per \ units

=  12500

The net income will be:

⇒  Sales-Production \ cost \ of \ variable-admin \ expenses-fixed \ costs-fixed \ selling

On substituting the values, we get

⇒  125000-31250-12500-30000-15000

⇒  36250 ($)

8 0
3 years ago
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating act
kondor19780726 [428]

Answer:

Indicate how each item should be classified in the statement of cash flows using these four major classifications

Explanation:

Cash flows from operating activities

Profit before taxation

Adjustments for:

Depreciation

Investment income

Interest expense

Profit / (Loss) on the sale of property, plant & equipment

Working capital changes:

(Increase) / Decrease in trade and other receivables

(Increase) / (Decrease) in inventories

Increase / (Decrease) in trade payables

Cash generated from operations

Interest paid

Income taxes paid

Dividends paid

Net cash from operating activities

Cash flows from investing activities

Business acquisitions, net of cash acquired

Purchase of property, plant and equipment

Proceeds from sale of equipment

Acquisition of portfolio investments

Investment income

Net cash used in investing activities

Cash flows from financing activities

Proceeds from issue of share capital

Proceeds from long-term borrowings

Payment of long-term borrowings

Net cash used in financing activities

4 0
3 years ago
When recording the payment of interest using the effective-interest method, the entry will include a ______ to Discount on bonds
goldfiish [28.3K]

Answer:Debit , market, stated.

Explanation: An actual payment of interest from a payables account is always entered as a debit in that account ledger. Then when calculating the effective interest : it is the the difference between the cash payment based on the market interest rate and interest expense based on the stated interest rate.

6 0
3 years ago
Under the UCC a sales or lease contract will not fail for indefiniteness even if there are open terms if the parties intended to
Gelneren [198K]

Answer:

The correct answer is True.

Explanation:

At the end of a common agreement, there is no consequence for any of the parties, since it is their will to end the contract that they previously agreed to sign

Termination of the lease by the lessor.

The lessor may unilaterally terminate the lease under the conditions established by law, paying any compensation that may arise.

The law expressly establishes when and why the lease can be terminated by the lessor, and only in those cases can the contract be terminated without there being room for the payment of a penal clause or non-compliance, if any, since in those cases the law in particular established how and why to terminate the contract, and set the penalties to which there is room.

4 0
3 years ago
Read 2 more answers
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