1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
bazaltina [42]
3 years ago
14

Dane is a stockholder in smallworld, inc., a c corporation that manufactures amusement park rides. the company recently lost a m

ajor court decision and will probably be forced into bankruptcy. in fact, the damages awarded are so great that, even if all company assets are sold and the proceeds are used to pay its debts, smallworld is likely to still owe money to its creditors. if smallworld goes bankrupt, dane and the other stockholders will:
Business
1 answer:
Georgia [21]3 years ago
7 0
Dane and the other stockholders will lose their investments but nothing else. Because Dane and others are stockholders in this company, they will lose the money that they had invested in the company and they will no longer receive any dividend from the company again because the company has gone bankrupt. Dane and others are not liable for other debts that had been acquired by the company. 
You might be interested in
Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct
mixer [17]

Answer:

$3,120 U

$480 U

$2,640 U

$142 F

$262 F

$120 U

Explanation:

As per the data given in the question,

Total material variance = Actual cost - Standard cost

= $6,240 - (260 × 5 × 2.4)

= $3,120 U

Material Price Variance = (Actual quantity × Actual rate) - (Actual quantity-standard rate)

= $6,240 - (2,400 × 2.4)

= $480 U

Material Quantity Variance = Standard rate × (actual quantity used - standard quantity)

= 2.4 × (2,400 - (260×5))

= $2,640 U

Total Labor variance = Actual cost - Standard cost

= $15,458 - (260 × 12 × 5)

= 142 F

Labor price variance = (Actual hour × actual rate)  - (actual hours  × standard rate)

= $15,458 - ($1,310 × 12)

= $262 F

Labor efficiency variance = Standard cost × (Actual hrs used - Standard hours)

= 12 × (1,310 - (260 × 5))

= $120 U

We simply applied the above formulas

7 0
3 years ago
If the CEO of a large, diversified, firm were filling out a fitness report on a division manager (i.e., "grading" the manager),
Rudik [331]

Answer:

a. The division’s basic earning power ratio is above the average of other firms in its industry.

Explanation:

All the rest of the option in the question results in less efficiency of the company's division. In order to achieve a better grade Option A is the only choice.

7 0
3 years ago
Merry Maidens Cleaning generally charges $280 for a detailed cleaning of a normal-size home. However, to generate additional bus
xeze [42]

Answer:

May 1

DR Cash $252

CR Service Revenue $252

<em>(To record payment for services rendered)</em>

Working

Cash = Net Service revenue

Net Service revenue = $280 * ( 1 - 10%)

= 280 * 90%

= $252

7 0
3 years ago
Clarion Corp. invested cash in a 6-month certificate of deposit (CD) on November 1, 2015. If Clarion Corp. has an accounting per
Ira Lisetskai [31]

Answer:

A is the correct option

Explanation:

Revenue or income is recognized based on accrual concept of accounting where revenue or income is recognized when earned and expenses when incurred not when received or paid in  cash.

As a result,on the 31st December Clarion Corp. has earned two months' interest on the 6-month certificate of deposit as it has invested for two months.

The correct option is A,Clarion recognizes interest revenue on 31st December ,2015 only.

It is also important to note that the since 2015 came to end the fraction of interest revenue relating to  year 2015 needs to be recognized by debiting accrued income account and crediting investment on the face of the income statement

5 0
3 years ago
There are 72,922 seats in Lambeau Field where the Green Bay Packers play football. The Packers have sold out their season ticket
In-s [12.5K]

Answer: quantity demanded of Packers tickets decreased.

Explanation:

First and foremost, we should note that normal goods are the goods that when the income of an individual rises, the individual will buy more and in a case whereby the income reduces, the person will buy less.

Therefore, during recession when people's incomes decreased, the quantity demanded of Packers tickets decreased as well

7 0
3 years ago
Other questions:
  • Which is true of lodging employers of major hotel chains? They tend to have a low turnover rate. They tend to promote employees
    12·2 answers
  • Rockland Corporation earned net income of $300,000 in 2014 and had 100,000 shares of common stock outstanding throughout the yea
    9·1 answer
  • Under the TILA-RESPA Integrated Disclosure Rule (TRID), a lender must extend the closing how many days if the annual percentage
    15·1 answer
  • Generally, we calculate elasticity as the: percentage change in quantity demanded/supplied divided by the change in price. perce
    12·1 answer
  • One appraisal principle of value is based on the concept that the more a property or its components are in harmony with the surr
    8·1 answer
  • Workers may be able to accomplish their tasks in an autonomous fashion, but the products of their efforts must be coordinated in
    7·1 answer
  • Cullumber Corporation purchased a machine on January 2, 2020, for $4100000. The machine has an estimated 5-year life with no sal
    14·2 answers
  • What is the harder subject you guys ever did
    6·1 answer
  • Metro Corporation will spend $1 million for special manufacturing equipment. Shipping and installation charges will amount to $1
    11·1 answer
  • ________ is a term for men who are keenly interested in fashion, home design, gourmet cooking, and personal care.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!