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xz_007 [3.2K]
2 years ago
15

Numerous customers of a bridal store lost their ordered and prepaid wedding gowns when the store locked its doors and declared b

ankruptcy. The court combined the disappointed​ brides' cases so that all of the matters seeking recovery from the failed store could be heard at once. This action by the court is known as​ __________.
Business
1 answer:
Kaylis [27]2 years ago
6 0

<u>Answer:</u> Consolidation

<u>Explanation:</u>

Courts have the authority to consolidate the cases which have common concern. Consolidated case also does not mean the court will not hear each appeal separately. As the facts of the case are similar that they have not received their prepaid wedding gowns due to the bankruptcy of the bridal store single hearing is placed by the court.

The consolidated cases at first remain the same way but the arguments of the attorneys may diverge the case while appealing. The disappointed brides should receive their compensation at once from the failed store here.,

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Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payme
diamong [38]

Answer:

a. This is a realized income. Amount to be included in his gross income is $0.

b. This is a realized income. Amount to be included in his gross income is $0.

c. This is a realized income. Amount of gift of bond to include in Glady's gross income is $0. Amount of interest from the bonds to be included in his gross income is $0.

d. This is NOT a realized income. Amount to be included in his gross income is $0.

Explanation:

a. A gift of $30,600 from Grady’s grandfather. Amount to be included?

The $30,600 is categorized as a realized income. However, no part of the total amount of any gift will be included in the gross income.

Therefore, amount to be included Glagy's gross income is $0.

b. 680 shares of GM stock worth $282 per share inherited from Grady’s uncle. The uncle purchased the shares for $82 each, and the shares are worth $287 at year-end. Amount to be included?

This amount of inheritance is categorized a realized income. However, they are not to be included as part of the gross income.

Although the there is an increase in the share value from $82 to $287, but the increased value will still not be included in the gross income because it has not been realized.

Therefore, amount to be included Glagy's gross income is $0.

c. A gift of $53,000 of Ford Motor Bonds. Grady received the bonds on October 31, and he received $1,590 of semiannual interest from the bonds on December 31. Amount to be included for gift motor bonds? Amount to be included for interest from the bonds?

This gift of bond is categorized as a realized income. However, they are not to be included as part of the gross income.

The amount of interest that accrued till October 31 will not be included in the gross income because it is considered as part of the gift as it was an interest that accrued when the bond gift was given.

The $530 [i.e ($1,590 / 6 months) * 2 months] that accrued from November 1 to December 31 (i.e. 2 months) will be taxed because it accrued after the day the gift was given. But this is an accrued interest that has not been received. It will therefore not be included in the gross income but it will be taxed when it is received.

The amount of gift of bond = $53,000 + [($1,590 / 6 months) * 4 months] = $53,000 + $1,060 = $54,060.

Amount of accrued interest from the bonds = ($1,590 / 6 months) * 2 months = $530.

However, amount of gift of bond and interest from the bonds to be included in Glady's gross income is $0.

d. A loan of $7,200 for school expenses from Grady’s aunt. Amount to be included?

A genuine loan does not fall under the category of a realiszed income. However, there are situations whereby a loan can be a a disguised gift. Under this situation, the loan would be considered as a gift and then becomes a realized income. However, the value of the gift will not be included in the gross income.

For this qustion, the loan is considered a genuine loan and it not a realized income. Therefore, the amount to be included Glagy's gross income is $0.

8 0
3 years ago
Suppose that technological advancements stimulate $20 billion in additional investment spending. If the MPC = 0.6, how much will
grin007 [14]

Answer:

option (D) $50 billion.

Explanation:

Data provided in the question:

Additional investment spending = $20 billion

MPC = 0.6

Now,

Increase in aggregate demand = [1 ÷ (1 - mpc) ] × Investment

or

Increase in aggregate demand =  [1 ÷ (1 - 0.4) ] ×  $20 billion

or

Increase in aggregate demand = (1 ÷ 0.4) × $20 billion

or

Increase in aggregate demand = 2.5 × $20 billion

or

Increase in aggregate demand = $50 billion

Hence.

the correct answer is option (D) $50 billion.

5 0
3 years ago
The normal capacity of Noel Company is 4,000 units per month. At this volume, budgeted fixed and variable factory overhead are $
drek231 [11]

Answer:

option (b) $900 U

Explanation:

Data provided in the question:

Normal capacity = 4,000 units per month

Budgeted fixed overhead = $16,000

Budgeted Variable factory overhead = $20,000

Actual overhead incurred = $37,900

Now,

Budgeted variable factory overhead cost per unit = $20,000 ÷ 4,000

= $5

Flexible budget variable factory overhead = 4,200 × $5

= $21,000

Total Variable budgeted factory overhead = $21,000 + $16,000

= $37,000

Variance = Budgeted overhead - Actual overhead

= $37,000 - $37,900

= - $900

or

$900 Unfavourable

Hence, option (b) $900 U

5 0
3 years ago
A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the chang
Nitella [24]

A decrease in the discount rate increases bank reserves and increase the money supply if banks respond appropriately to the change in the rate.

<h3>What is discount rate?</h3>

Dscount rate serves as the rate of interest that the central bank charges on its loans and advances to a commercial bank.

Therefore, when there is increase in discount rate, there will be increase in money supply.

Learn more about discount rate at;

brainly.com/question/7459025

3 0
2 years ago
A company issued 6-year, 8% bonds with a par value of $750,000. The market rate when the bonds were issued was 7.5%. The company
balandron [24]

Answer:

$28,406.25

Explanation:

Calculation for how much is the amount of interest expense for the first semiannual interest period Using the effective interest method

Interest expense=$757,500 x .075 x ½ year

Interest expense= $28,406.25

Therefore the amount of interest expense for the first semiannual interest period is $28,406.25

7 0
2 years ago
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