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3 years ago

When a restaurant claims that it sells the world's best cup of coffee, it could be accused of?

1 answer:

5 0

The restaurant can be accused of puffery. In terms of law, puffery is an advertising declaration or claim that states subjective rather than objective opinions, which no "reasonable person" would take accurately. Puffery functions to "puff up" an overstated image of what is being labelled and is particularly featured in statements.

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Elize’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January

saveliy_v [14]

Answer:

(a) Debit Wages expense for $950; Credit Federal income tax withholding for $94; and Credit Wages payable for $856

(b) Debit wages payable for $856; and Credit Cash for $856.

Explanation:

The entries will look as follows:

a) Prepare the journal entries to record Elize’s pay for the period

Date Account title Dr ($) Cr ($)

Jan 15 Wages expense (w.3) 950

Federal income tax withholding 94

Wages payable (w.4) 856

(To Elize’s pay for the period.)

(b) Prepare the journal entry to record the payment of Elize’s wages.

Date Account title Dr ($) Cr ($)

Jan 15 Wages payable (w.4) 856

Cash 856

(To record the payment of Elize’s wages.)

Workings:

Normal hours = 40

Number of hours worked = 45

Overtime hours = Number or hours worked - Normal hours = 45 - 40 = 5

Normal hourly wage rate = $20

Overtime hourly rate = $30

Federal income tax withholding = $94

w.1: Normal wage amount = Normal hours * Normal wage rate = 40 * $20 = $800

w.2: Overtime pay = Overtime hours * Overtime hourly rate = 5 * $30 = $150

w.3: Wages expense = Normal wage amount + Overtime pay = $800 + $150 = $950

w.4: Wages payable = Total wage amount - Federal income tax withholding = $950 - $94 = $856

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3 years ago

Fidelity Stereo Company has provided the following information regarding its activity-based costing system:Purchasing department

VikaD [51]

Answer:

a. $392, 265

Explanation:

Given that:

i. Purchasing department, overhead allocation rate is $77 per purchase order.

ii. Assembly department, overhead allocation rate is $5 per part.

iii. Packaging department, overhead allocation rate is $4 per unit.

iv. Direct material cost is $70 per unit.

v. Each stereo has 50 parts.

Total parts required = 1200 x 50

= 60000

vi. 45 purchase order was required for 1200 stereos.

Thus:

i. $77 x 45 = $3465

ii. $5 x 60000 = $300000

iii. $4 x 1200 = $4800

iv. $70 x 1200 = $84000

Therefore,

total cost for 1200 stereos = $3465 + $300000 + $4800 + $84000

= $392, 265

8 0

3 years ago

KLM Corporation's quick assets are $6,123,000, its current assets are $13,440,000 and its current liabilities are $8,144,000. It

galben [10]

Answer:

the acid-test ratio is 0.75 times

Explanation:

The computation of the acid-test ratio is shown below:

We know that

Acid-test ratio is

= Quick assets ÷ current liabilities

= $6,123,000 ÷ $8,144,000

= 0.75 times

Hence, the acid-test ratio is 0.75 times

basically we divided the quick assets from the current liabilities so that the acid-test ratio could come

8 0

3 years ago

Quest Outdoor Store orders River Run-brand kayaks from Sports Merchandise, Inc. Sports Merchandise ships kayaks of the wrong siz

Sidana [21]

Answer:

Sports Merchandise

Explanation:

According to the situation that has been described in the question it can be said that the loss is suffered by Sports Merchandise. This is because a the seller of a good or product is liable for that product until the buyer purchases the product and decides to keep it. Which in this scenario since Sports Merchandise made a mistake on the product size and Quest decided not to accept the product then the responsibility and risk of loss remained with Sports Merchandise as the owner of the product.

5 0

3 years ago

Brandon, the general manager of Pelantis International Hotel, promises Theodore, the director of marketing and sales of the hote

NISA [10]

Answer:

Transactional leadership

Explanation:

This leadership involves an exchange process whereby followers get immediate and tangible rewards for carrying out the leader’s orders. The leader can clarify what is expected of followers´ performance explaining how to meet such expectations and allocating rewards that are contingent on meeting objectives.

4 0

3 years ago