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umka2103 [35]
3 years ago
7

Batman parked the Batmobile himself and kept the bat keys. There was no attendant at the lot. Two hours later, Batman left the r

estaurant and was heading back to the parking lot when he saw Wonder Woman. They started talking about the upcoming Hall of Justice party. Thirty minutes later, Batman went to the parking lot and discovered that his Batmobile had been stolen. Batman sued Penguin Parking Lot on the theory that it had breached its duty as a bailee.
Required:
Was there a bailment?
Business
1 answer:
kupik [55]3 years ago
5 0

Answer:

First of all, there was no attendant in the parking lot when batman arrived, meaning that he did not hand the keys. Batman kept the leys to himself all the time, so there is no transfer of possession. Without a valid transfer of possession, bailment cannot exist.  Whether Batman ate at the restaurant or spent time talking to Wonder Woman do not change the facts that the safety of his Batmobile was his responsibility only.

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Riverwalk Corporation is liquidated, with Juan receiving $5,000 in money, other property having a $6,000 FMV, and a $1,000 mortg
7nadin3 [17]

Answer:

The correct option is B,$2000

Explanation:

The gain on the cash and property received by Juan can be computed thus:

Cash received                      $5,000

Property less mortgage:

Property value  $6000

Mortgage          ($1000)         $5000

Total                                        $10,000

less stock basis                       ($8,000)

gain on stock                           $2,000

Option A is since the value of cash and property received is not $8,000 which gives a no gain  no loss outcome.

Option C is wrong since the property mortgage of $1000 must be deducted from the property before computing the gain or loss.

Option D is obviously wrong as the $11,000 is just the summation of property value of $6000 without considering mortgage and the cash received.

5 0
3 years ago
Read 2 more answers
Examine the following budget: Monthly Budget Budgeted Amount Actual Amount Income Wages $1000 $850 Expenses Car - gas, insurance
Masja [62]

Answer:

What is the actual net income for the month?

-$ 115

What, if any, changes could have been made to the actual amounts this month to keep the actual net income at a positive value?

To achieve a positive result of $135, it's necessary to reduce two items that are over the budget,  insurance Food & Personal Items  and Recreation , if it's possible to adecuate these values to the forecasted budget then it's possible to have positive results.

Explanation:

Result for the Month

Income statement BDGT REAL

Income Wages $ 1.000 $ 850

Expenses Car - gas -$ 300 -$ 200

insurance Food & Personal Items -$ 75 -$ 200

Cell Phone -$ 75 -$ 85

College Savings -$ 300 -$ 220

Recreation -$ 75 -$ 200

Clothes -$ 80 -$ 60

Net Income $ 95 -$ 115

Modified Result for the Month.

Income statement BDGT REAL

Income Wages $ 1.000 $ 850

Expenses Car - gas -$ 300 -$ 200

insurance Food & Personal Items -$ 75 -$ 75

Cell Phone -$ 75 -$ 85

College Savings -$ 300 -$ 220

Recreation -$ 75 -$ 75

Clothes -$ 80 -$ 60

EBIT $ 95 $ 135

7 0
3 years ago
What is meant by goal maximization of the shareholders' wealth?​
shepuryov [24]

Answer:

the objective of all corporate activity is called goal maximization of the shareholders' wealth.

4 0
2 years ago
Judy's Boutique just paid an annual dividend of $2.77 on its common stock. The firm increases its dividend by 3.50 percent annua
Shalnov [3]

Answer:

10.4%

Explanation:

The formula to calculate the cost of equity is:

Cost of equity= (DPS/MPS)+r

DPS= Dividend per share

MPS= Market price per share

r= Growth rate of Dividends

Cost of equity= (2.77/40.12)+0.0350

Cost of equity=0.069+0.0350

Cost of equity=0.104→ 10.4%

The company's cost of equity if the current stock price is $40.12 per share is 10.4%.

8 0
3 years ago
Bawl purchased ABC bonds on 1/1/21. Data regarding these available-for-sale securities follow: Cost MV December 31, 2021 $100,00
GrogVix [38]

Answer:

Bawl with ABC bonds

The unrealized Gain/Loss reported in OCI of the 2023 Comprehensive Income statement is:

A Loss of $5,000

Explanation:

a) Data and Calculations:

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December 31, 2021        $100,000     $ 91,000        $9,000 (Loss)

December 31, 2022         100,000        111,000        20,000

December 31, 2023         100,000      106,000          5,000 (Loss)

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               Debit       Credit

Dec 31   100,000

Loss                         9,000

Dec 31     91,000    

Profit      20,000

Dec 31    111,000

Loss                        5,000

Dec 31  106,000

The Available-for-sale Investment will show a loss of $5,000 in the Other Comprehensive Income of the 2023 Comprehensive Income Statement based on the yearly adjustments to the account with losses and profits.

6 0
2 years ago
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