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faust18 [17]
3 years ago
5

Ralph has worked as a model builder at Snowdrop Architects for 30 years. He gets laid off, and the firm then hires Charlotte, wh

o is 24 and willing to work for half of Ralph’s salary. The firm never offered to let him stay and do Charlotte’s job for half the pay. When he left, one of the other architects told him, "Frankly, it’s not a bad thing to have a cute young person working with the clients." Which of the following statements is true?
a. Ralph has a good claim against Snowdrop, because it had an obligation to offer him the lower-paying job before firing him.
b. Ralph has a good claim against Snowdrop, because it is illegal to replace an older worker with a younger worker just to save money.
c. Ralph has a good claim against Snowdrop, because age appears to have been a factor in Ralph being laid off, although not the main factor.
d. Ralph does not have a good claim against Snowdrop, because age was not the deciding factor in Snowdrop’s decision to lay off Ralph.
Business
1 answer:
Sliva [168]3 years ago
5 0

Answer: Ralph does not have a good claim against Snowdrop, because age was not the deciding factor in Snowdrop’s decision to lay off Ralph.

Explanation: The reason for the firm laying off Ralph is vague and not explicitly stated. Therefore Ralph cannot make a claim against Snowdrop for laying him off due to his age.

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Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 10
gogolik [260]

Answer:

1. See the attached excel file for the journal entries.

2. Ending balance of retained earning is $346,125

3.Total Stockholder's Equity is $1,616,125

Explanation:

1. Prepare journal entries to record each of these transactions.

Note: See the attached excel file for the journal entries.

The following are tge workings:

w.1: Treasury stock = $5,000 * $20 = $10,000

w.2: Dividend payable = (Issued and outstanding shares - Shares repurchase) * Dividend per share = (60,000 - 5,000) * $4 = 55,000 * $4 = $220,000

w.3: Cash = Number of shares sold * Selling price per share = 1,875 * $24 = $45,000

w.4 = Treasury stock = Number of shares sold * Treasury price per share = 1,875 * $20 = $37,500

w.5: Additional paid in capital = Number of shares sold * (Selling price per share - Treasury price per share) = 1,875 * ($24 - $20) = $7,500

w.6: Cash = Number of shares sold * Selling price per share = 3,125 * $17 = $53,125

w.7 = Treasury stock = Number of shares sold * Treasury price per share = 3,125 * $20 = $62,500

w.8: Balancing figure = Treasury stock (w.7) – Cash (w.7) - Additional paid in capital (w.5) = $62,500 - $53,125 - $7,500 = $1,875

w.9: Dividend payable = (Issued and outstanding shares * Dividend per share = 60,000 * $4 = $240,000

2. Prepare a statement of retained earnings for the year ended December 31, 2019.

Kohler Corporation

Statement of Retained Earnings

On December 31, 2019

<u>Particulars                                                  Amount ($)  </u>

Opening balance                                       400,000

Income for the year                                    408,000  

Dividend Paid (220,000 + 240,000)        (460,000)

Loss on sale of treasury stock               <u>        (1,875)    </u>

Ending balance                                     <u>      346,125   </u>

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.

Kohler Corporation

Stockholder Equity Section of Balance sheet

At December 31, 2019

<u>Particulars                                                        Amount ($)</u>

Common stock issued ($20 * 60,000)               1,200,000

Paid-in capital in excess of par v - c. stock     <u>        70,000  </u>

Total contributed Capital                                     1,270,000

Retained Earnings                                      <u>      346,125  </u>

Total Stockholder's Equity                             <u>     1,616,125  </u>

Download xlsx
3 0
3 years ago
At the end of the year, the deferred tax asset account had a balance of $4 million attributable to a temporary difference of $16
Alex

Answer:

1 . Dr ncome tax expense 7

Dr Deferred tax asset 4

Cr Income tax payable 11

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

Explanation:

Preparation of Journal entries

JournalDebitCredit

(In million)

1 . Dr ncome tax expense 7

($11-$4=7)

Dr Deferred tax asset 4

($16× 25% = $4)

Cr Income tax payable 11

($44 × 25% = $11 )

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

(3/4 × $4) = $3 million

Deferred tax asset= ($16× 25%)

Deferred tax asset= $4 million

Income tax payable= ($44 × 25%)

Income tax payable= $11 million

5 0
3 years ago
Why is a consumer likely to be worse off when a product that he or she consumes is rationed?​
KIM [24]
When the price of the good is fixed at a level below the current (equilibrium) price, there will be a shortage of the good and the good will have to be effectively rationed. As in the question above, the consumer is worse off because she is not able to attain her utility maximizing point.
5 0
3 years ago
Boris cannot afford his current car insurance payments. How can he most easily lower them?
vredina [299]
C. buy a cheaper car
4 0
3 years ago
Read 2 more answers
The Converting Department of Worley Company had 2,400 units in work in process at the beginning of the period, which were 35% co
PolarNik [594]

Answer:

Worley Company

                                                 Units       Completion %          Equivalent Units

                                                                                                  D. Mat       CC

Beginning work in process    2,400             35%                   2400        840  

Transferred                             10,800                                  10,800        10,800

Ending work in process          <u>1,900               60%                1900         1140</u>

<u> Total                                       15100                                      15,100       12780</u>

Worley Company

Number of Equivalent Units of Production

Whole Units    15100

Direct Materials Equivalent Units    15,100

Conversion Equivalent Units 12780

Inventory in process, beginning= Direct Materials + Conversion Costs

                                                   =       2400 +  840  = 3240

Transferred to Packing Department= Direct Materials + Conversion Costs

                                                               =    10,400 + 10400

                                                               

Inventory in process, ending =  Direct Materials + Conversion Costs

                                                 =     1900 +1410= 3310

Total=       Direct Materials + Conversion Costs= 15,100 + 12780=  27880

3 0
3 years ago
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