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3 years ago

What are the elements of the tort of negligence??

1 answer:

4 0

What are the elements of the tort of negligence??
Answer:*Presence of a Duty of Care. The first element is establishing the presence of a duty owed by one person to another.

*Someone Breached Their Duty. The second element is a breach of the duty owed by one person to another.

*The Breach Directly Causes Injuries. 

*Proving Monetary Losses.

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For the year ending December 31, Beard Clinical Supplies Co. mistakenly omitted adjusting entries for (1) $7,620 of unearned rev

Svetradugi [14.3K]

Answer:

See explanation section

Explanation:

Since Beard Clinical Supplies Co. omitted adjusting entries that leads to either decrease or increase in the revenues, expenses, and net income.

Transactions 1 and 2 are related to Revenue.

Transaction 3 is related to Expenses.

All transactions are related to Net Income.

Journal entry will help to determine the effect.

Transaction - 1: Unearned Revenue (Debit) - $7,620

Service Revenue (Credit) - $7,620

Transaction - 2: Accounts Receivable (Debit) - $10,480

Service Revenue (Credit) - $10,480

Transaction - 3: Wages expense (Debit) - $5,950

Wages Payable (Credit) - $5,950

A) Revenue = Transaction (1 + 2) = $7,620 + 10,480 = $18,100 was missing. It means revenues were understated (decreased) by $18,100.

B) Expenses = Transaction 3 = $5,950. It was understated also.

C) Net Income = $18,100 - 5,950 = $12,150. Therefore, Net income was also understated.

8 0

4 years ago

Use the following information to answer the question(s) below. A company near a large city is required to keep its smokestack po

meriva

Answer:

Over this 10-year period, the benefit to cost ratio is:

= 1.33.

Explanation:

a) Data and Calculations:

Cost of additional anti-pollution equipment = $2 million

Estimated useful life of the equipment = 10 years

Additional annual labor cost for equipment usage = $100,000

This gives a total labor cost of $1 million over the 10-year period.

Therefore, the total cost = $3 million

Savings (benefits) from lowering the air pollutants in the region = $4 million in medical expenses.

The benefit-to-cost ratio (BCR) = $4/$3 = 1.33

b) The Benefit-to-cost ratio (BCR) is a cost–benefit analysis that summarizes the value-for-money of a project by expressing the relationship between the project's benefits and costs in monetary terms. The BCR shows the future profitability of investment alternatives or options. It is normally expressed in terms of net present value.

8 0

3 years ago

Which of the following is not correct

bulgar [2K]

Answer:

Explanation:

7 0

4 years ago

Omnidata uses the annualized income method to determine its quarterly federal income tax payments. It had $100,000, $50,000, and

nika2105 [10]

Answer: $300,000

Explanation:

Given that,

Taxable income,

First quarter = $100,000

Second quarter = $50,000

Third quarter = $90,000

we need to annualized the cumulative taxable income of first half of the year that will have taxable income for the first and second quarters.

Annualizing the cumulative taxable income:

= 2 × (First quarter taxable income + Second quarter taxable income)

= 2 × ($100,000 + $50,000)

= $300,000

Therefore, Omnidata's annual estimated taxable income for purposes of calculating the third quarter estimated payment is $300,000.

7 0

3 years ago

A ____is a business with two of more owners who similar to a sole proprietorship do not have personal liability protect

Marianna [84]

Answer:

A partnership

Explanation:

there is unlimited liability

the partners contribute capital and share, profit and losses

it is based on contracts or agreement among the members

5 0

2 years ago