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motikmotik
2 years ago
9

__________is the name for the doctrine that holds that the manufacturer of a product has legal responsibilities to compensate th

e user of that product for injuries suffered because the product's defective condition made it unreasonably dangerous, even though the manufacturer has not been negligent in permitting that defect to occur.
Business
1 answer:
Zigmanuir [339]2 years ago
6 0

Answer:

Product liability

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Sandy earned a salary of $50,000 last year. Her parents gave her a car valued at $23,000 for her birthday. In addition, she earn
IgorLugansk [536]

Answer:

$51,200

Explanation:

Gross income computation includes all forms of income such as wages, rents, royalties, dividend etc. However, gifts and inheritances are not considered as a part of the gross income.

Therefore, Sandy's gross income consist of her salary, and the interest income

Sandy's Gross income = 50000 + 1200

                       = $51,200

The inheritance of her grandmother's estate and car gift are not included as a part of Sandy's gross income.

5 0
3 years ago
On January 1, 1997, an investment account is worth 100,000. On April 1, 1997, the value has increased to 103,000 and 8,000 is wi
loris [4]

Answer:

(B) 6.25%

Explanation:

January 1, 1997 = $100,000

April 1. 1997 = $103,000 - $8,000 = $95,000

January 1, 1999 = $103,992

annual interest rate for 1997 = i = (x - 100,000 + 8,000) / [100,000 - 8,000(1 - ³/₁₂) = (x - 100,000 + 8,000) / [100,000 - 8,000(1 - 0.25) = (x - 92,000) / 94,000

x = 92,000 + 94,000i

annual interest rate for 1998 = 1 + i = 103,992/x

x = 103,992/(1 + i)

0 = x(1 + i) - 103,992

now we replace x by 92,000 + 94,000i

0 = (92,000 + 94,000i)(1 + i) - 103,992

0 = (94,000 (1 + i) - 2,000)(1 + i) - 103,992

we now replace 1 + i by Y

0 = (94,000Y - 2,000)Y - 103,992

0 = 94,000Y² - 2,000Y - 103,992

using a calculator, Y = 6.25%

4 0
3 years ago
Cedric is planning to major in business management and would like to work for an international company someday. What program mig
borishaifa [10]
B

Definitely right

The city news stations gives the opportunity for them to learn about culture and trade in the business community.
6 0
1 year ago
Read 2 more answers
The act that requires most employers to withhold certain amounts from employees' earnings for contributions to the Social Securi
raketka [301]

Answer:

Federal Insurance Contributions Act

Explanation:

The Federal Insurance Contributions Act refers to a law that establishes the federal taxes that are deducted from employees' salaries to get the funds for social services like Medicare, disability insurance, among others. According to  this, the answer is that the act that requires most employers to withhold certain amounts from employees' earnings for contributions to the Social Security and Medicare programs is called the Federal Insurance Contributions Act.

5 0
2 years ago
Riverbed Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Pre
kupik [55]

Answer:

Riverbed Company

a) Journal Entries during 2020:

1. Debit Dividends Payable - Preferred Stock with $23,100

Debit Dividends Payable - Common Stock with $41,500

Credit Cash Account with $64,900

To record the payment of dividends.

2. Debit Treasury Stock with $62,400

Credit Cash Account with $62,400

To record the repurchase of 1,600 shares of common stock for $39 per share, using the cost method.

3. Debit Land Account with $28,700

Credit Treasury Stock with $28,700

To record the reissue of 700 treasury shares for land.

4. Debit Cash account with $56,710

Credit Preferred Stock with $53,000

Credit Additional Paid-in Capital- Preferred with $3,710

To record the issue of 530 shares of preferred stock at $107 per share.

5. Debit Stock Dividend with $10,000

Credit Dividends Payable with $10,000

To record the declaration of 10% stock dividend on outstanding common stock.

6. Debit Dividends Payable with $10,000

Credit Common Stock with $10,000

To record the issue of stock dividend.

7. Debit Dividends - Preferred with $28,930

Debit Dividends - Common Stock with $44,000

Credit Dividends Payable with $72,930

To record declaration of $11 per share dividend on preferred stock and $2 on common stock.

b) Stockholders' Equity Section of the Balance Sheet:

Preferred Stock:

Authorized, 10,000 at $100 par = $0

Issued and paid up, 2630 at $100 = $263,000

Additional Paid-in Capital - Preferred = $3,710

Common Stock:

Authorized 104,500 at $5 par value = $0

Issued and Paid up, 22,900 at $5 = $114,500

Less Treasury Stock, 900 shares = $33,700

Additional Paid-in Capital - Common = $135,000

Retained Earnings = $753,670 ($492,000 + 334,600 - 72,930)

Total = $1,236,180

Explanation:

1. The authorized stock does not form part of the value of equity.  This is why, for this case, a nominal value of $0 was assigned.  The authorized stock represents the maximum number of shares the company is legally authorized to issue.

2. The 2019 annual dividends paid were based on 2,100 shares issued for preferred and 20,00 shares for the common stock.

3. Treasury Stock is used to record the repurchase of own stock.  Based on the cost method, the total costs of issue and repurchase are recorded in the Treasury Stock without the above-par value being taken to the Additional Paid-in Capital.  The reissue of treasury stock for land does not affect the Cash Account.  The debit entry is to the Land Account.

4. Stock dividend declared and issued was calculated based on the outstanding balance at that time.  The outstanding totalled 20,000 shares.  10% of 20,000 equals 2,000.  This implies that additional stock was granted to stockholders as dividend.  The market price does not have to be taken into account in Riverbed.

5. Dividends declared on preferred stock was $11 per share.  The preferred stock at the time was 2,630 (2,100 + 530) after the issue of additional 530 shares of preferred stock.

6. The Retained Earnings are adjusted for net income and dividends declared for the year.  Note: The payment of dividend for 2019 does not affect the Retained Earnings.

6 0
3 years ago
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