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melisa1 [442]
3 years ago
7

Kojo, a LifeCare Medical Supplies salesperson, follows Malin, a salesperson for National Medco Products, a LifeCare competitor,

as Malin visits medical clinics, doctors’ offices, hospitals, and other locations to make sales. Kojo solicits each of Malin’s customers. Kojo is most likely liable for​ ​a.conversion. ​b.no tort. ​c.wrongful interference with a business relationship. ​d.trade libel.
Business
1 answer:
qaws [65]3 years ago
4 0

Answer:

C

Explanation:

Wrongful interference with a business relationship.

Kojo is liable for wrongful interference with a business relationship and Based on common law tort and contract principles, the courts can order that damages be paid to compensate national medco products for economic harm caused by Kojo who interfered with their business relationships due to the fact that Kojo is trying to solicit Malin's customers to breach contract with Malin.

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On June 1, Royal Corp. began operating a service company with an initial cash investment by shareholders of $3,900,000. The comp
ankoles [38]

Answer:

$7,500,000 $4,400,000

Explanation:

Accrual concept requires to record the income and expenses in the period in which they are incurred rather when these get paid.

Cash basis accounting records the transaction when it gets paid.

Service Income $7,500,000

Expenses           $3,100,000

Cash Dividend   $820,000

<u>Cash Basis</u>

   Income Statement

For two month ended 31 July.

Service Income $7,500,000

Expenses           <u>$0                </u> (Expenses been paid In August)

Net Income       <u>($7,500,000)</u>

<u>Accrual Basis</u>

   Income Statement

For two month ended 31 July.

Service Income $7,500,000

Expenses           <u>$3,100,000 </u>

Net Income       <u>($4,500,000)</u>

3 0
3 years ago
The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands):
san4es73 [151]

Answer:

A. 136.2 days

Explanation:

To compute the average days inventory outstanding, first, we have to find out the inventory turnover ratio

Inventory turnover ratio =  Cost of goods sold ÷ average inventory

where,  

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

= ($546,745 + $585,764) ÷ 2

= $566,254

And, the cost of good sold is $1,517,397

Now put these values to the above formula  

So, the answer would be equal to  

= $1,517,397 ÷  $566,254.50

= 2.67 times

Now, Days in inventory  = Total number of days in a year ÷ inventory turnover ratio

= 365 days ÷ 2.67 times

= 136.70 days approx

5 0
3 years ago
Which of the following is NOT an advantage of owning a car?
Yuri [45]
I think it’s D but I’m not sure
5 0
3 years ago
Read 2 more answers
A periodic review system is __________. a. a term used to indicate the amount of demand b. to be met under conditions of demand
vladimir2022 [97]

Answer:

The correct answer is letter "C": an inventory system that is used to manage independent demand inventory.

Explanation:

A Periodic Review System is used to keep track of the inventory of a firm after determined periods. Review intervals are set by the company in an attempt to find out the amount of stock needed to fulfill consumers' orders or to reach the company's Target Inventory (TI). This inventory system is used to handle independent demand inventory.

3 0
3 years ago
Electrodo Co. purchased land for $55,000 with $20,000 paid in cash and $35,000 in notes payable. What effect does this transacti
Archy [21]

Answer:

(c). Net increase in assets of $35,000 and a net increase in liabilities of $35,000

Explanation:

Accrual basis of accounting attempts to record transactions as and when they arise and not on the basis of  when money is actually received or paid. Once a liability is certain, such a liability is provided for immediately.

The journal entry for purchase of Land partly by cash and partly for issuing a notes payable would be:

Land                                                  Dr. $55,000

     To Cash                                                          $20,000

     To Notes Payable                                           $35,000

(Being land purchased by payment of $20,000 in cash and a note being issued against the balance amount)

Land and cash are assets whereas Notes Payable is a liability.

So, the effect of the above transaction would be:

Net increase of $35,000 ( $ 55,000 - $ 20,000) as debit in fixed assets account increases their balance whereas cash being a real account, the rule being debit what comes in, credit what goes out. So credit in cash account would reduce the cash balance by $ 20,000.

Notes Payable account which is to be paid in future is a liability which shall increase the liabilities by $ 35,000.

So, the correct answer is (c), Net increase in assets of $35,000 and a net increase in liabilities of $35,000.  

5 0
3 years ago
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