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aksik [14]
3 years ago
14

Modern Railways Co. operates a cargo railroad service between New York and Boston. A train owned by Modern Railways derails due

to a rare maintenance problem. The train collides with a delivery truck owned by CraftCo, shattering $100,000 worth of porcelain inside. If CraftCo sues Modern Railways Co. for negligence, CraftCo may be able to recover:
a. punitive damages.b. general damages.c. singular damages.d. special damages.
Business
1 answer:
Verizon [17]3 years ago
4 0

Answer: Special damages

Explanation: In simple words, special damages refers to the claim made by the injured person for the losses he or she suffered due to negligence of duty by the defendant.

In the given case, the train that is owned by the modern railways collided with a truck owned by craft co resulting in a loss of $100,000 of the former.

Hence if Craft co proves that the accident happened due to the negligence from the side of modern railways then they can claim special damages.

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The normal procedure under the misstatement of age provision in regard to the payment of the death claim is that the procedure would be reduced based on the premium in which whatever it would have been if this has been purchased at the age of fifty nine years old.

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3 years ago
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Finders Investigative Services is an investigative services firm that is owned and operated by Stacy Tanner. On June 30, 2019, t
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Answer:

Net Profit   121,500

Stacy Tanner, Capital 483,300

Explanation:

Finders Investigative Services

End-of-Period Income Statement

For the Year Ended June 30, 2019

Service Fees                                                     $  ~ 718,000

Rent Revenue                                                      ~ 12,000

                                                                            730,000

Salaries Expense                     ~ 522,100

Rent Expense                          ~ 48,000

Supplies Expense                     ~ 10,800

Depreciation Expense-Building ~ 8,750

Utilities Expense                          ~ 7,150

Repairs Expense                         ~ 3,000

Insurance Expense                     ~ 2,500

Miscellaneous Expense              ~ 6,200                         608,500

Net Profit                                                                        $121,500

Finders Investigative Services

End-of-Period Owner's Equity

For the Year Ended June 30, 2019  

Stacy Tanner, Capital                             $ ~ 373,800

<u>Add Income                                             121,500             495,300   </u>

<u>Less Drawing                                                 12,000</u>

<u><em>Stacy Tanner, Capital                                                  $  483,300</em></u>

Finders Investigative Services

End-of-Period Balance Sheet

For the Year Ended June 30, 2019

Balance

Account Title                                       ~ Dr.                      Cr. ~

Cash                                                 ~ 28,000

Accounts Receivable                        ~ 69,600

Supplies                                              ~ 4,600

Prepaid Insurance                              ~ 2,500

Building                                            ~ 395,300

Accounts Payable                                                              ~ 11,700

Salaries Payable                                                                ~ 3,000

Unearned Rent                                                                  ~ 2,000

Stacy Tanner, Capital                                                      ~ 483,300

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Rent Expense                          ~ 48,000 Cr

Supplies Expense                     ~ 10,800 Cr

Depreciation Expense-Building ~ 8,750 Cr

Utilities Expense                          ~ 7,150 Cr

Repairs Expense                         ~ 3,000 Cr

Insurance Expense                     ~ 2,500 Cr

Miscellaneous Expense              ~ 6,200 Cr

2)     Service Fees                     $  ~ 718,000 Dr

Rent Revenue                            ~ 12,000 Dr

          Income Summary                           $ 730,000 Cr

3) Income Summary  $121,500 Dr

Stacy Tanner Capital Account               $ 121,500 Cr

4) Stacy Tanner Capital Account           $ 12,000 Dr

Stacy Tanner Drawings                  $ 12000 Cr

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This is the main difference between the products of manufacturing companies and services companies.

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