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Schach [20]
3 years ago
8

Kendra and Amelia operate an art gallery, owned as a partnership. Kendra disappeared. A few days later, Amelia learned that Kend

ra embezzled $75,000 of government grant money through the company. Is Amelia responsible for the $75,000?
Business
1 answer:
Jobisdone [24]3 years ago
6 0

Answer:

Yes, Amelia responsible for the $75,000

Explanation:

It is given that Kendra and Amelia are jointly operating the art gallery, they are working together as a partnership. If a person does any work in the partnership business, other has full responsibility for partnership.

In the given question Kendra Has embezzled a $75,000 government grant, which will be responsible for partnership business but in the absence of Kendra, Amelia will also be responsible for all this.

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A salesperson is offering promissory notes for a company selling coffee at drive-through kiosks. The notes pay a 13% interest ra
OverLord2011 [107]

Answer:

Legitimate promissory notes are marketed to sophisticated, corporate investors that have the ability to thoroughly research the company issuing the notes and determine whether the issuer will be able to repay principal and interest.   There have been many instances of "promissory note fraud" where unlicensed individuals push bogus promissory notes that are sold as investments that offer above-market fixed interest rates and safeguarding of principal - and most of there are frauds.  This is a major concern to state regulators.

To offer a promissory note, both the salesperson and the note must be registered in the state.  Only promisory notes that have maturities of 9 months or less, that are investment grade, and are sold in minimum increments of $50,000 are exempt from registration.  

Finally, the tell-tale sign of fraud are:

Statements that tho notes are "guaranteed" or insured, especially by bogus foreign entities.

Promises of above-market rates fo return

Statements that the notes are "risk"free"

The labeling of a star-up company´s notes as prime

Offers of promissory notes from a stanger who does not know the costumer financial situation

4 0
3 years ago
The board of directors of pilgrim company authorizes a $100,000 restriction of retained earnings for a future plant expansion. t
Yakvenalex [24]

Answer:

It will reduce the amount of dividiends it can pay.

Explanation:

As there is an amount of the retained earnings that is restricted the company cannot use them to pay up neither stock or cash dividends in the future.

The retained earnings are used to pay dividends but also, are part of the equity of the firm thus the RE count to the capital structure of the company . Loans can be obtained with better rates if thecapital structure is more based on equiy than in liabilities thus, the board of directors is planning ahead the future plant exansion avoiding to use cash and deteriorate his capital structure to pay up dividends.

6 0
4 years ago
According to altman & taylor, the degree of intimacy in a relationship depends on the
Aloiza [94]
The degree of intimacy in a relationship depends on the depth and breadth of the information shared together to the psychologist Altman and Taylor, they developed the Social Penetration Theory wherein it explains the differences of communication of relationships. The various aspects of person's life are referred to breadth while the depth is the details regarding these areas.
5 0
3 years ago
If taxpayers are married and living together at the end of the year, they must file a joint tax return. True False
scoray [572]

Answer:

True

Explanation:

because its true

5 0
3 years ago
Champaign Corporation purchases 45% of the common stock of Rockville, Inc. at a purchase price of $21.6 million cash. During the
lara [203]

Answer:

The correct option is A,$ 22,687,200

Explanation:

The year end balance of the equity investment of Champaign Corporation at year end is the initial price paid for the investment plus share of net income in the year less Champaign Corporation's share of cash dividends paid in the year as shown below:

Initial cost of investment                           $21,600,000

share of net income($2,960,000*45%)   $ 1,332,000

Less:share of dividends($544,000*45%) ($244,800)

Year end balance of equity investment $ 22,687,200

The correct option is A.

It is important to note that dividends were deducted because it is more ike a cash out from the investment

5 0
3 years ago
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