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Nadya [2.5K]
2 years ago
10

im was a crook. He embezzled $450,000 from his employer. When his employer found out about his misdeeds, before even conducting

a thorough investigation, he went and gave all the details to a local newspaper agency. The next day Jim read his own story, with his own name, in the newspaper. Which of the following is correct
Business
1 answer:
Masja [62]2 years ago
5 0

Answer:

Unless the company is 100% certain that it can prove Jim's misdeeds and has all the evidence to support their accusation, they should have waited for the police to act first before going to the newspaper. If their is the minimum chance that they cannot prove their accusations, Jim might be able to sue them for libel.

You might be interested in
Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for
stellarik [79]

Answer:

Winslow Inc.

a. No. I do not agree with management's decision and conclusions.  Eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

b. Variable Costing Income Statements:

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000    $635,000  $2,185,000

3 Variable costs:

Cost of goods sold             284,500       248,400      298,500       831,400

Selling and administrative  293,100        175,500       216,000      684,600                      

Total                                    577,600       423,900       514,500    1,516,000

4 Gross profit                   $272,400     $276,100     $120,500   $669,000

5 Fixed costs:

Cost of goods sold             128,500         90,300       120,500      339,300

Selling & administrative      95,900          82,400       143,500       321,800

Total                                   224,400        172,700      264,000        661,100

6 Income (Loss) from       $48,000      $103,400    $(143,500)       $7,900

c. Eliminating the line only eliminated the variable costs of goods sold and selling and administrative expenses.  The fixed costs were not changed with the elimination.  Therefore, eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

Explanation:

a) Data and Calculations:

Winslow Inc.

Product Income Statements—Absorption Costing

For the Year Ended December 31, 20Y1

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000      $635,000

3 Cost of goods sold           413,000       338,700         419,000

4 Gross profit                    $437,000     $361,300       $216,000

5 Selling & administrative

 expenses                         389,000       257,900         359,500

6 Income (Loss) from        $48,000      $103,400      $(143,500)

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000    $635,000  $2,185,000

3 Variable costs:

Cost of goods sold             284,500       248,400      298,500       831,400

Selling and administrative  293,100        175,500       216,000      684,600                      

Total                                    577,600       423,900       514,500    1,516,000

4 Gross profit                   $272,400     $276,100     $120,500   $669,000

5 Fixed costs:

Cost of goods sold             128,500         90,300       120,500      339,300

Selling & administrative      95,900          82,400       143,500       321,800

Total                                   224,400        172,700      264,000        661,100

6 Income (Loss) from       $48,000      $103,400    $(143,500)       $7,900

Eliminating the running shoe line:

1                                   Cross Training  Golf Shoes          Total

2 Revenues                      $850,000     $700,000      $1,550,000

3 Cost of goods sold:

Variable costs                     284,500       248,400          532,900

Fixed costs                          128,500         90,300           339,300

Total                                     413,000       338,700           872,200

4 Gross profit                   $437,000      $361,300        $677,800

5 Selling & administrative  expenses:

Variable costs                    293,100         175,500         468,600

Fixed costs                          95,900          82,400          321,800

Total                                  389,000        257,900         790,400

6 Income (Loss) from       $48,000      $103,400       ($112,600)

3 0
2 years ago
Del is buying a $250,000 home. He has been approved for a 5.75% mortgage. He was required to make a 15% down payment and will be
alukav5142 [94]

Answer:

Del is expected to prepaid to pay $535.62 in prepaid interest at the closing.

Explanation:

The down payment of 15% is $250000*15%=$37500

The balance of mortgage net of down payment=$250000-$37500

                                                                               =$212500

Interest yearly=$212500*5.75%=$12,218.75

A year interest divided by 365days give one day interest.

A day interest=$12218.75/365=$33.48

Total interest  to pay at closing=16days*$33.48

                                                     =$535.62

The number of days was 16 because July has 31days and deal was closed on 15th,hence 31 minus 15 gives 16.

4 0
3 years ago
What is the cash flow equation?
aksik [14]
Cash flow=net income+non-cash expenses-increase in working capital.
4 0
3 years ago
Read 2 more answers
Which best states the main difference between a monopoly and pure competition?
Brut [27]
When you have a monopoly you have a product or service on the market with no competition. On the flip side, in a pure or perfect competition there are various competitors selling the same product or service as you. The main difference between these two are that a monopoly involves no competition at all while a pure competition involves a high level of competition. (the first choice)

The second choice is incorrect because it is harder to establish a product in a pure competition market because you are competing with other companies. 

The third choice is incorrect because a monopoly refers to a company with a product or service and no competition whereas a pure competition refers to one with the same products or services. 

The forth choice is incorrect because they can be present in various economy structures.

3 0
3 years ago
Read 2 more answers
Different organizations face different constraints and rules. _____ have more ways to accumulate capital (such as issuing stocks
Pani-rosa [81]

Answer:

Different organizations face different constraints and rules. Not-for-profit organizations have more ways to accumulate capital (such as issuing stocks and bonds) and benefit from economies of scale. But small firms do not have to pay certain kinds of taxes.

Explanation:

Non profit organization such as NGOs have more ways to accumulate capital through international support as a result of the nature of task they are carrying out. International organization that supports NGOs are United Nation, UNICEF, WHO, IMF and world bank among others.

while small firms does not pay certain kind of taxes as a result of the nature of type of business they are into, this limits or reduces their tax payments

6 0
3 years ago
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