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Ivenika [448]
3 years ago
15

In June 1985, Joseph Marcantuone and Robert Gieson purchased property located in East Orange, New Jersey. At the time of purchas

e, the property was partly occupied and leased to Carriage Trade Cleaners, a dry cleaning establishment. A number of dry cleaners continuously operated on this site since 1930. Marcantuone and Gieson owned and operated a grocery store on another section of the property. They have never personally owned or operated a dry cleaning establishment on the property. JRM, LLC, and Sang Hak Shin were tenants on the property and the last operators of the dry cleaning establishment that utilized the hazardous substance tetrachloroethylene, or perchloroethylene (PCE), during the time Marcantuone and Gieson owned the property. The city of East Orange acquired the property through condemnation for the purpose of building a school on the property. But, the PCE was discovered on the property and out of the $629,407 given to Marcantuone and Gieson as compensation for the taking, the city held back $182,035.20 for the cost of the PCE clean-up. It cost the city a total of $212,000 to complete the clean-up of the property. ​
1. Who is liable for the remaining amount due for the clean-up?
a. Marcantuone and Gieson
b. Lessees of the dry-cleaning establishment
c. Previous owners of the property
d. all of the above
Business
1 answer:
sattari [20]3 years ago
6 0

Answer:

The answer would be All of the above.

Explanation:

All the above mentioned parties are related with discharge of the chemical and are liable to get the clean up done. Marcantuone and Gieson are liable as they are the owners, Lessees of the dry cleaning establishment are liable as they are the ones who operated on the effected land and Previous owners under whose ownership the lessees had taken the land on lease for a dry cleaning property.

All the parties are liable for the clean up as well as the damage occured post the clean up as well as per the law.

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Firecracker Company has developed the following standards for one of its products. Direct materials: 15 pounds × $16 per pound D
Natasha_Volkova [10]

Answer:

(-$10,000) Unfavorable

Explanation:

Direct materials:

Quantity = 15 pounds  

Standard price = $16 per pound

Actual price = Purchase Price ÷ Purchase quantity

                    = 170,000 ÷ 10,000

                    = 17

Material price variance:

= Actual purchase quantity × (Standard price - Actual price)

= 10,000 × ($16 - $17)

= 10,000 × (-$1)

= (-$10,000) Unfavorable

7 0
3 years ago
On October 1, 2021, Blue Corp. issued $744,000, 7%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay i
Luda [366]

Answer:

Blue Corp.

Journal Entry

Date            Account Titles and Explanation   Debit   Credit

Oct. 1, 2021 Cash                                        $744,000

                   Bonds Liability                                     $744,000

To record the issuance of the 7%, 10-year bonds at face value.

Explanation:

a) Data and Analysis:

Face value of 7%, 10-year bonds = $744,000

Bonds issue = at face value

Issue date = October 1, 2021

Interest payment = annual

Interest payment date = October 1

Annual interest payment = $52,080 ($744,000 * 7%)

Records on December 31, 2021:

Accrual of interest for the year:

Interest Expense $13,020

Interest payable $13,020

To accrue interest for 3 months.

Records on October 1, 2022:

Interest Expense $39,060

Interest payable $13,020

Cash $52,080

To record the interest payment.

8 0
3 years ago
g The La Salle Bus Company has decided to purchase a new bus for $95,000 with a trade-in of their old bus. The old bus has a BV
dedylja [7]

Answer:

The new bus is rolling stock asset

depreciation is $8,000

Explanation:

Rolling stock asset  in the U.S is a conveyance vehicle such a buses,vans ,locomotives,ferryboats and so on.

annual depreciation =(cost-salvage value)/useful life

cost of the new bus is $95,000

salvage value is $15,000

useful life is  10 years

yearly depreciation charge =($95,000-$15,000)/10 years

                                              =$8,000

Note that the $10,000 trade-in value is relevant when computing the cash payable to the car dealer,it is not deducted here since it forms part of asset cost.

3 0
3 years ago
Which mood or feeling is an individual MOST likely communicating when they keep their hands in their pockets as someone is talki
LenaWriter [7]

Answer:

Receptiveness

Explanation:

<em> So a receptive person is willing to receive things, especially opposing arguments, constructive criticism, and helpful hints. How receptive you are speaks to your willingness to have an impression made upon you.</em>

7 0
2 years ago
Which decision-making model would you use when your goals are unclear, there is time pressure, and you have experience with the
BartSMP [9]

Answer: Intuitive decision making model.

Explanation:

The intuitive decision making model is used to describe a situation where an individual makes decisions based on instincts when faced with a challenge rather than making use of analytics. For an individual to make use of the intuitive decision making model, he should have had previous experience with the current area of challenge.

8 0
3 years ago
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