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Basile [38]
3 years ago
15

The Labor-Management Reporting and Disclosure Act (Landrum-Griffin Act) was designed to protect the rights of individual union m

embers in their relations with their own union. Group of answer choices True False
Business
1 answer:
Artist 52 [7]3 years ago
5 0

Answer:

The correct answer is the first option: True.

Explanation:

To begin with, the "Labor Management Reporting Disclosure Act", or also known as Landrum-Griffin Act, was the name given to a law from the United States that basically has its main purpose in the protection of rights from the individual members of the Unions. This law focus particulary in the relationship that exists between the Union as an organization of power and the members inside due to a matter of internal affairs in the search of reducing abuse of power and position as well. That is why that this law seeks for the benefits of the individuals parties in the wake of the increase of their rights.

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Wildhorse Corp. has total current assets of $12,152,000, current liabilities of $5,849,000, and a quick ratio of 0.94. How much
White raven [17]

Answer:

Wildhorse Corp. has inventory of $6,653,940

Explanation:

The quick ratio is a liquidity ratio that indicates a company's ability to pay its current liabilities when they come due without needing to sell its inventory or get additional financing. The quick ratio is calculated by the following formula:

Quick ratio = (Cash & equivalents + Short Term investments + Accounts receivable)/Current Liabilities

(Cash & equivalents + Short Term investments + Accounts receivable) = Quick ratio x Current Liabilities = 0.94 x $5,849,000 = $5,498,060

Inventory = Total current assets - (Cash & equivalents + Short Term investments + Accounts receivable) = $12,152,000 - $5,498,060 = $6,653,940

4 0
3 years ago
Ware Co. produces and sells motorcycle parts. On the first day of its fiscal year, Ware issued $35,000,000 of five-year, 12% bon
nlexa [21]

Answer:

Cash proceeds is $37,702,607.23  

First premium amortization $214,869.64

Second premium amortization is $225,613.12

First year interest expense is $ 3,759,517.24  

Explanation:

The amount of cash proceeds from the bond issue is the pv of the bond using the pv formula,=-pv(rate,nper,pmt,fv)

rate is 10% yield to maturity divided 2 since interest is semi-annual i.e 5%

nper is 5 years multiplied by 2=10

pmt is the semi-annual interest payable by the bond i.e $35,000,000*12%*6/12=$2,100,000

fv is the face value of the bond at $35,000,000

=-pv(5%,10,2100000,35000000)

pv=$37,702,607.23  

The amount of premium to be amortized in first semi-annual interest payment:

Interest expense=$$37,702,607.23*10%/2=$1,885,130.36  

coupon interest=$35,000,000*12%/2=$2,100,000

Premium amortized=$2,100,000-$1,885,130.36  

premium amortized=$214,869.64  

The amount of premium to be amortized in second semi-annual interest payment:

interest expense=($37,702,607.23+$2,100,000-$1,885,130.36)*10%/2

                           =$1,874,386.88  

Premium amortized=$2,100,000-$1,874,386.88

premium amortized=$225613.12

Bond expense for the first payment= 37,702,607.23*10%/2  

                                                           =$1,885,130.362

Bond expense for the first payment=  37,487,737.59  *10%/2  

                                                           =$ 1,874,386.88  

First year bond interest expense= 1,874,386.88+1,885,130.362  

                                                      =$ 3,759,517.24  

                                                     

Find attached schedule in addition

Download xlsx
4 0
3 years ago
Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $49,0
natima [27]

Answer:

a. Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b. Dr Bad debt expense $2,205

Cr Allowance for doubtful debt $2,205

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Estimated uncollectible amount

= 5% × $49,000

= $2,450

As such, if the allowance for doubtful;

has a $833 credit balance before the adjustment

Additional allowance required

=$2450 - $833

= $1,617

Entries required are

Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b) a $245 debit balance before the adjustment.

This means that off the amount uncollectible $245 has already gone bad

Adjusting entries required amounts to

= $2450 - $245

= $2205

Dr Bad debts expense $2205

Cr Allowance for doubtful debt $2205

7 0
3 years ago
List one unprofessional and one unprofessional example for speech habits
MAVERICK [17]

Answer:

one example of unprofessional speech habit is slouching or fidgeting while talking to your audience and one professional example is making eye contact with your audience

Explanation:

8 0
2 years ago
Mellon Corporation The data presented below is Mellon Corporation for the year ended December 31, 2015: Sales (100% on credit) $
kaheart [24]

Answer:

The bad debts expense for 2015 would be $ 28,000

Explanation:

The balance of the allowance for doubtful account should be equal to the amount estimated to be uncollectible based on the ageing analysis

Estimated uncollectible account                                                 $ 31,000

Allowance for doubtful accounts prior to adjustment               <u>$   3,000</u>

Bad debts expense for the year to be recorded                    <u> $ 28,000</u>

The accounting entry to record this is as follows:

Bad debts expense                                          Debit               $ 28,000

Allowance for uncollectible accounts            Credit                               $ 28,000

4 0
3 years ago
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