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zimovet [89]
3 years ago
13

Isabel and Josh engage in a business transaction that leads to a dispute. Isabel initiates a lawsuit against Josh by filing a co

mplaint. The sheriff serves Josh with a summons. If Josh chooses to ignore it,a. Isabel must file an amended complaint.b. Isabel will have a judgment entered in her favor.c. Josh must be served with a second summons.d. Josh will have a judgment entered in his favor.
Business
1 answer:
andreev551 [17]3 years ago
4 0

Answer:

(b.) Isabel will have a judgment entered in her favor

Explanation:

Under the Rules of the court Josh's action is referred to as Default of Appearance.  Isabel is the Complainant while Josh is the Defendant.

It is the law that where a Defendant fails to appear before the court where there is a proof of service of the summons on him or her, Complainant may apply to the Judge for a judgement in respect of the claim on the summons to be entered in his or her favor against the Defendant.

Therefore, in the instance case at hand, Isabel will have a judgment entered in her favor for failure of Josh to appear before the court.

Option (a) is not the answer because Isabel does not need to file an amended complaint because Isabel did not ask the court for any amendment of her complaint. Isabel can only file an amended complaint if she intends to change her complaint against Josh.

Option (c) is not also the answer because Josh chooses to ignore the summons served on him. If for instance Josh did not get the summons served on him or the judge is of the opinion that Josh was not properly served, then the court can order that Josh must be served with a second summons.

Option (d) is also not the answer because Josh cannot have a judgment entered in his favor because he is the person who defaulted appearance before the court. A party who is in default of appearance cannot have judgment entered in his favor.

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For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31
Vadim26 [7]

Answer:

1. Assume no other adjusting entries are made during the year a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?

Step 1: Unearned Revenue has a credit balance of $10,000

Step 2: Unearned Revenue should have a credit balance of $2,500 only.

Step 3: Adjusting Journal Entry:

Debit Unearned Revenue $7,500

Credit Service Revenue $7,500

To record revenue for services performed to December 31, 2017.

2.  Caden started a new publication called Contest News. Its sub subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account pay $24 to receive 12 monthly issues.

Step 1: Unearned Subscription Revenue has a credit balance of $2,400

Step 2: Unearned Subscription Revenue should have a credit balance of only $1,200.

Step 3: Adjusting Journal Entry:

Debit Unearned Subscription Revenue $1,200

Credit Subscription Revenue $1,200

To record subscription revenue for services performed to December 31, 2017.

Explanation:

Tao Co and Caden follow the three-step process of adjusting unearned revenue liability accounts at year-end.  The purpose of the steps is to ensure that correct amounts remain as balances in the unearned revenue accounts.  The steps also help to adjust the Earned Revenue account to its proper amount in recognition of goods or services provided in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

8 0
2 years ago
Consider the assembly line of a laptop computer. The line consists of 11 stations and operates at a cycle time of 1.50 minutes/u
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Answer: 13.5 minutes

Explanation:

Information turnaround time = Cycle time * Number of stations after error is made.

The most error-prone operation is step 2 so assuming an error happens there, there will be 9 more stations in the line.

Information turnaround time will therefore be:

= 1.50 * 9

= 13.5 minutes

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3 years ago
AB When considering two mutually exclusive projects, the firm should always select the project whose internal rate of return is
Mnenie [13.5K]

Answer:

False

Explanation:

If an investment project can be repeated, i.e. its life cycle can be extended by reinvesting, the NPV of the project will change.

When considering two mutually exclusive projects, the NPV method should always be considered before the IRR as a means of evaluating which project should be carried out.

3 0
3 years ago
Read 2 more answers
Total population: 39,404 Average household income: $121,000 Average household expenditures: $81,000 In their 20s and 30s: 53% Wh
dolphi86 [110]

Answer:

This is the full question:

Before Caffè Gustoso's owners can develop a marketing plan for the new store, they need to decide how to expand.

To keep the market expansion manageable, they have decided to limit the potential locations to the Chicago suburbs. However, they don't know which suburb to target.

The profile of Caffè Gustoso's current downtown customer is as follows:

Total population: 39,404

Average household income: $121,000

Average household expenditures: $81,000

Age range of customers: 53% In their 20s and 30s

Type of employment: 73.3%White collar employment:

Education level: 79.1% Bachelor's degree or higher:

Family status:  Married: 49.3% Households without children: 78%

The owners have collected data on three potential markets presented in the market analysis report shown here and want your feedback.

Which of the Chicago suburbs is the best target for Caffè Gustoso's planned market development?  Deerfield, Aurora or Naperville.

And the correct answer is:

Naperville, IL

Explanation:

The following information for the 3 suburbs is taken form US Census

                        Average

                        Household                                            

                        Income         Median Age  %Married  %W/O Kids Race

Naperville       $105,585       35                   70%          55%             76% White

Aurora               $63,967       32                   54%          53%             56% White

Deerfield        $107,194         40                   73%           56%             95% White

The suburb that fits the average customer is Deerfield, for the following reasons:

  • The average household income of the Caffe Gustoso's customer is $121,000, and the average household income in Naperville is $105,585, a bit less, but not by a lot.
  • 49% of the customers are married, in Naperville, 70% of people are married. The difference is significant, but in Deerfield more people are married (73%), and in Aurora, the percentage of married people is close (54%), but the average income is not ($63,967 vs $121,000).
  • The average customer is in his 20s and 30s, and the median age in Naperville is 35, still in the 30s.
  • 78% of customers do not have children, and in Naperville 55% of people have children, however, the figures are practically the same for the three suburbs so this is inconsequential.
  • 73.3% of customers are white, and 76% of people in Naperville are white, an almost 1:1 correspondence.

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