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leonid [27]
3 years ago
8

Buzz Coffee Shops is famous for its large servings of hot coffee. After a famous case involving McDonald’s, the lawyer for Buzz

warned management (during 2014) that it could be sued if someone were to spill hot coffee and be burned. "With the temperature of your coffee, I can guarantee it’s just a matter of time before you’re sued for $1,000,000." Buzz felt the likelihood was remote. Unfortunately, in 2016, the lawyer’s prediction came true when a customer filed suit. After consulting with his attorney, Buzz felt the loss was possible but not likely or probable. The case went to trial in 2017, and the jury awarded the customer $400,000 in damages, which the company immediately appealed. Buzz felt a loss was probable but believed a lower amount could be negotiated. During 2018, the customer and the company settled their dispute for $150,000. What is the proper recording of this liability each year from 2016 through 2018 under GAAP?
Business
1 answer:
Tasya [4]3 years ago
7 0

Answer:

the proper recording of this liability each year from 2016 through 2018 under GAAP is $150,000.

Explanation:

since the first amount cannot be determinable now, we cannot record it as a liability.

After the settlement of the dispute by the customer and company outside the court the company should record the loss and a liability at an amount of $150,000 because it is certain and determinable now.

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Martin is the daytime supervisor for a packaging assembly line. He supervises 38 workers who perform routine jobs that require m
nadya68 [22]

Answer: E. Martin likes to provide the guidance and support needed by employees and ties meaningful rewards to accomplishment of objectives.

Explanation: Path-goal model of leadership is said to be a theory based on a specify leader behavior that best suit his employees and the work environment that would help achieved set goals. The main aim of path-goal model of leadership is to increase employees morale, motivate and empower them.

Martin is following this model to provide the needed guidance and support the employee working under him requires.

6 0
3 years ago
We discussed the invasions of the Roman world by various Germanic tribes in the fifth century and the Arab-Islamic conquests of
EleoNora [17]

Answer:

The invaders were able to govern the more advanced civilizations because they adopted most of the conquered civilizations' customs, rules of governance, and even languages and religion.

For example, in the case of the Germanic tribes that conquered the Western Roman Empire, the rulers adopted, one by one, the religion of the Roman Empire: Christianity, more specifically, the Roman Catholic variant.

They also began to use the language of the Empire: Latin, for ecclessiastical and political matters, and while political institutions did change a lot, some of the political institutions of the Empire did survive in the sucessor states that the Germanic rulers carved out of the Roman territory.

7 0
3 years ago
Which ethical approach typically focuses on the attainment of fair and equitable distribution of economic goods and services?
SVETLANKA909090 [29]

Answer:Social justice theory

Explanation:Social justice is a concept which encourages fair and just relationship in terms of how wealth, opportunities are distributed amongst society and individuals.

It encourages that no one shall be deprived of equal access to certain resources and thatg everyone must get their share and thatt shall not be taken away from them.

4 0
3 years ago
Countries are interconnected today as never before. From eating foods from different countries to singing along to songs perform
Nuetrik [128]
This is tough to answer in 3-5 sentences, and tends to also be a heavy identifier of your possible political leanings.  You'll have to apologize if some of mine leak out in the response, but this is a question we debate hotly more frequently than every 4 years.

In general, international trade can help increase the GDP and overall profits for US-based corporations.  However, if all we do is export, and we don't import, other countries don't look favorably upon that and may heavily tax our goods to counter this.

I believe we do need to be thoughtful about the amounts and kinds of international trade that we engage in.  For example, farming is always a hotly debated issue for international trade, in part because farmers in other countries with a dramatically lower cost of living OR farmers in countries with a favorable currency rate (exchange from their currency to our dollars gives them an advantage) can undercut our farmers here in the US, many of whom are already struggling.

There are also those who are worried that when we import produce from countries that have not outlawed pesticides we know are carcinogenic, for instance, this creates not only a disadvantage for US farmers, but also for consumers who may be concerned about health issues.

As another example of this, many countries outlawed import of US beef during the Mad Cow Epidemic.  We in turn also placed bans on importing beef from the UK.  

These are examples of why it's important to be thoughtful about trade, but there are certainly many others, including decline in production jobs within the US that have left cities like Detroit a ghost town (this was formerly the hub of our automotive industry production).
5 0
3 years ago
On January 1, Graves Corporation had 60,000 shares of no-par common stock issued and outstanding. The stock has a stated value o
Reptile [31]

Answer:

April 1 The company issued 9,000 stocks at $11 per stock

  • Dr Cash account 99,000
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June 15 Cash dividends are declared $1.50 per stock

  • Dr Retained Earnings account 103,500
  • Cr Dividends Payable account 103,500

July 10 The company paid the dividends

  • Dr Dividends Payable account 103.500
  • Cr Cash Account 103,500

December 1 The company issued 4,000 stocks at $12 per stock

  • Dr Cash account 48,000
  • Cr Common Stock account 48,000

December 31 Cash dividends are declared $1.60 per stock

  • Dr Retained Earnings account 116,800
  • Cr Dividends Payable account 116,800

6 0
3 years ago
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