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3 years ago

Establishment's liquor license was revoked because of service to minors what liability was involved

Business

1 answer:

posledela3 years ago

5 0

its Criminal liability.

because, as seller of alcohol, you may face criminal laws if you break any law:

-Serving alcohol to a minor

-Serving a guest who is or appears to be intoxicated

-Possessing, selling, or allowing the sale of drug on the premises

Consequences include:

-Probation

-Fined

-Jailed

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Silver Springs Company has an unfunded retiree health care plan. Each of the company's four employees has been with the organiza

Anettt [7]

Answer:

1. The expected post-retirement benefit obligation at the end of 2021 is $196,000, the present value of total net costs of providing health care benefits.

2. Calculation of the accumulated post-retirement benefit obligation at the end of 2021 is as below:

APBO = EPBO * Full eligibility period / Attribution period

APBO = $196,000 * 2 / (2+28)

APBO = $196,000 * 2/30

APBO = $13066.66666666667

APBO = $13,066.67

Thus, accumulated post-retirement benefit obligation at the end of 2021 is $13,066.67.

6 0

3 years ago

Wind Fall, a manufacturer of leaf blowers, began operations this year. During this year, the company produced 10,000 leaf blower

Citrus2011 [14]

Answer: Option (a) $146,500 is correct.

Explanation:

Company produced = 10,000 leaf blowers

Company produced sold = 8,500 leaf blowers

Income statement of year-end:

Sales = $ 382,500

Cost of goods sold = 170,000

Gross margin = $ 212,500

Selling and administrative expenses = 60000

Net income = $ 152,500

Production costs per leaf blower total = $20

Variable cost of goods sold = 8500 × $16 = $136000

Variable selling and administrative expenses = 15% of 60000 = $9000

Fixed production Cost = 10000 × $4 = 40000

Fixed Selling & Administrative expenses = (100% - 15%) of 60000 = $51000

∴ Net income under variable costing = sales - Variable cost of goods sold - Variable selling and administrative expenses - Fixed production Cost - Fixed Selling & Administrative expenses

= 382,500 - 136000 - 9000 - 40000 - 51000

= 146500

4 0

3 years ago

If a lender agrees to an $80,000 loan at 9% for 15 years with 2 loan discount points, what amount will be charged at closing for

White raven [17]

points charged at closing will be $80,000 × 0.02 (2 points equal 2%) = $1,600.

Points, also called discount points, lower interest rates in exchange for prepayment. Lenders lower your closing costs in exchange for accepting higher interest rates. These terms may be used to mean something else. "Point" is a term that mortgage lenders have used for many years.

Mortgage points (sometimes called discount points) are fees paid to lower interest rates on home purchases or refinancing. Discount points cost 1% of your mortgage amount. For example, if you take a $ 100,000 mortgage, one point costs $ 1,000.

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6 0

2 years ago

What is the normal journal entry when writing-off an account as uncollectible under the allowance method?.

kherson [118]

The journal entry when writing off an account as uncollectible under the allowance method is:

Allowance for Doubtful Debts ( Dr.) xxxxx

Accounts Receivable ( Cr.) xxxxx

The allowance technique involves putting aside a reserve for terrible debts that are expected in the future. The reserve is based on a percent of the income generated in a reporting length, possibly adjusted for the danger associated with positive clients.

The allowance technique is used to determine how an awful lot of money a commercial enterprise needs to set apart for future awful or unrecoverable customer debt. It factors in the price of the losses an organization expects from extending patron credit.

The allowance approach requires a small commercial enterprise to estimate at the cease of the 12 months how an awful lot awful debt they have got, while the direct write-off method we could owners write off horrific debt whenever they determine a patron might not pay an invoice.

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5 0

2 years ago

A _____ grants the inventor of a new product or process exclusive rights for a defined period to the manufacture, use, or sale o

Anna007 [38]

Answer:

patent

Explanation:

A patent is a type of intellectual property that is classified as an intangible asset. It provides the patent holder protection for any invention that he/she has developed and registered with the proper government authorities. Patents usually last between 14 to 20 years and during that time the patent holder has the exclusive right to manufacture, use or sell his invention.

7 0

3 years ago