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makkiz [27]
3 years ago
12

Samuel, a longtime employee of the ABCD Corporation, was injured when he fell off a ladder while stocking widgets at ABDC at the

ir East Lansing, Michigan location. Samuel believes ABCD Corporation was negligent for selling widgets. If Samuel sues his employer in a circuit court under a negligence theory of recovery:
a. he will lose
b. he will win
c. he will forfeit his rights to workers compensation benefits, completely
d. he will forfeit his rights to workers compensation benefits, but only if the court awards him non-economic damages
Business
1 answer:
ozzi3 years ago
7 0

Answer:

Option B. He will win

Explanation:

If Samuel is desiring to sue his employer in a circuit court because he thinks that the employer was negligent then he will have to sue under negligence Act, which says that the employer is obliged to take all necessary precautions and if found negligent then the court may apply contributory negligent theory as well as comparative negligent theory. These two negligent theories means that the employer was partly responsible for injury, which means that this would result in compensation to Samuel.

Hence it is more likely that Samuel will win the case.

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Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer with a fair value o
UNO [17]

Answer:

Dr Computer                                       $3,300

Dr Accumulated depreciation-Truck $18,000

Cr Truck - Fixed Asset                                              $20,000

Cr Gain on disposal of truck (Balancing Figure)    $800

Cr Cash  Account                                                       $500

Explanation:

The disposal of a Fixed asset is a three step procedure and is given as under:

  1. Remove the Accumulated depreciation and the cost of the fixed asset
  2. Record the receipt of the consideration at Fair Value
  3. Record the payment or receipt of the cash

Always remember that the balancing figure will go to Profit and loss statement.

<u>Step1: Remove the Accumulated depreciation and the cost of the fixed asset</u>

The asset value and the accumulated depreciation would be removed from the books of accounts and the balance figure would be transfered to profit and loss account.

Dr Accumulated Depreciation $18,000

Dr Profit & Loss Account          $2,000

Cr Truck - Fixed Asset                            $20,000

<u></u>

<u>Step2: Record the receipt of the consideration at Fair Value</u>

Dr Computer - Fixed Asset $3,300

Cr Profit and Loss Account           $3,300

<u>Step3: Record the payment or receipt of the cash</u>

The receipt of the payment will treated as:

Dr Profit and loss Account $500

Cr Cash Account                        $500

The aggregate Effect if I summarizee would be:

Dr Computer                                       $3,300

Dr Accumulated depreciation-Truck $18,000

Cr Truck - Fixed Asset                                              $20,000

Cr Gain on disposal of truck (Balancing Figure)    $800  

Cr Cash  Account                                                       $500

8 0
3 years ago
Jacob has taken an suv on lease from free cruisers inc. for a period of four years. jacob does not need to pay any extra amount,
Alinara [238K]

What Jacob will have is a lose ended lease. It is because the close ended lease has been provided to him because he needs to surrender or to turn in his car, specifically the SUV, which is at the end of the term of the lease.

6 0
3 years ago
Bebe Rexha has AGI of $100,000 and makes the following expenditures:
shutvik [7]

Answer:

$31000 will be allowed as expenditure

Explanation:

given data

Wheelchair  = $10,000

Whirlpool bath = $10,000

Maintenance =  $1,000

Increased utility bills =  $1,000

various home modifications = $10,000

solution

as here value of the home increased =  $1000

and that is  increaed utility bill of the whirlpool

so that expenditure will be added to value of asset

so  

total expenditure is = $10000 + $10000 + $10000 + $1000 =  $31000

so $31000 will be allowed as expenditure

7 0
3 years ago
lord penrose a financial analyst for the equitable life insurance society has just been asked to evaluate two mutually exclusive
spin [16.1K]

Answer:

The Equitable Life Assurance Society (Equitable Life), founded in 1762, is a life insurance ... Lord Penrose's 2004 Equitable Life Inquiry found that the company had made ... Both types of bonus were allocated at the discretion of the directors in ... between a fixed Guaranteed Annuity Rate (GAR) or the Current Annuity Rate ...

Explanation:

4 0
3 years ago
Malik has two options this weekend. He could work at his job and earn $9 per hour for three hours, or he could got o a show at t
Igoryamba

Answer:

B. $57

Explanation:

The computation of the opportunity cost of the theater shown below:

= Earning per hour × number of hours + cost of the theater ticket

= $9 × 3 hours + $30

= $27 + $30

= $57

To find the opportunity cost we considered the total earnings and the cost of the theater tickets so that the accurate cost of the theater could come.

8 0
3 years ago
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