On September 29, 2020, two former employees of company NPIC, a manufacturer of pet treats, were...

On September 29, 2020, two former employees of company NPIC, a manufacturer of pet treats, were sentenced to 6 months of imprisonment and 36 months of probation for theft of trade secrets. Zhu was the former R&D head of department NPIC employee for 10 years before he was recruited for a competitor company, Gambol Pet Group CO, Ltd. Another employee Lei, worked with Zhu to illegally download all of R&D process data prior to leaving the company. They used this information for their work at Gambol by saving it on electronic storage devices and to the computers at the competitor company. This was investigated by the Federal Bureau of Investigation and was prosecuted by Andrew Stover the assistant U.S. attorney. Civil litigation is ongoing between the two companies.

please put the summary and your own opinion based on the above information.

Expert Solution

Two former employees of NPIC, Jie Zhu and Pinghua Lei, pleaded guilty and were convicted for theft of trade secrets in the U.S. District Court for the Eastern District of Texas on August 19, 2020. Zhu and Lei were both sentenced to 6 months of imprisonment and 36 months of probation thereafter.Both Zhu and Lei, a R&D process engineer at NPIC

for several years, illegally downloaded all the R&D and Process data from NPIC's server without authorization prior to their departure from NPIC. The data downloaded by Zhu and Lei was

subsequently transferred to numerous electronic storage devices, and to the computers used by Zhu and Lei to perform work for Gambol Pet USA, Inc. Zhu and Lei both admitted to using NPIC's R&D and Process data in the course of their work as the Chief Operating and Technology Officer (Zhu) and

R&D Manager and Senior Scientist (Lei) at Gambol

Pet USA, Inc. This case was investigated by the Federal Bureau of Investigation and was prosecuted by Andrew Stover, Assistant U.S. Attorney.

Civil litigation is ongoing between NPIC and Gambol Pet Group Co, Ltd, Gambol Pet USA, Inc. along with the Chinese-based CEO of Gambol Pet USA, Inc. and the R&D Director for Gambol Pet Group Co, Ltd. In the civil litigation, NPIC asserted claims of misappropriation of trade secrets against the Gambol defendants stemming from the actions of Zhu and Lei and the Gambol defendants as their alleged co-conspirators.

ekkarill92 answered 2 years ago

1a. PA Company is involved in a lawsuit brought by former employees. The employees are suing...

1a. PA Company is involved in a lawsuit brought by former employees. The employees are suing for a recovery of $350,000 for injury at work. The legal advisor is quite pessimistic about the lawsuit and believes that it is probable (more likely than not) that the company will lose the litigation and pay the full amount of the claim. Required: Discuss the proper accounting treatment, including any required disclosure, for PA Company regarding the above ongoing litigation (no journal entry...

On September 1, Delta Company had 30,900 units in process, which were 29% completed. Materials are...

On September 1, Delta Company had 30,900 units in process, which were 29% completed. Materials are added at the beginning of the process. During the month, 165,700 units were started and 175,500 completed. Ending work in process was 50% complete. Calculate the equivalent units of production for materials if weighted average were used.

A company produces and sells two products – A and B. During January 2020 A were...

A company produces and sells two products – A and B. During January 2020 A were sold at the amount of $19,200 and its variable expenses were $6,336. B were sold at the amount of $32,800 and its variable expenses were $11,344. Fixed expenses were $32,280. Compute 1. Break-even point for the company in total sales dollars. Show your calculation 2. If the sales mix shifts toward A without changes in total sales, what is the company’s break- even point?...

The September 2020 payroll of Keefer, Inc. was $818,000 of which $105,000 represented amounts paid in excess of $137,700 to certain employees.

The September 2020 payroll of Keefer, Inc. was $818,000 of which $105,000 represented amounts paid in excess of $137,700 to certain employees. The amount paid to employees in excess of $7,000 was $620,000. Income taxes withheld were $192,000, and union dues withheld were $12,000. The state unemployment tax is 1.2%, the federal unemployment tax is .8%.The state unemployment tax and federal unemployment tax are both calculated on the first $7,000 of employee wages.A. Prepare the journal entry for the wages...

On September 30, 2020, Peace Frog International (PFI) (a U.S.-based company) negotiated a two-year, 2,800,000 Chinese...

On September 30, 2020, Peace Frog International (PFI) (a U.S.-based company) negotiated a two-year, 2,800,000 Chinese yuan loan from a Chinese bank at an interest rate of 4 percent per year. The company makes interest payments annually on September 30 and will repay the principal on September 30, 2022. PFI prepares U.S. dollar financial statements and has a December 31 year-end. Relevant exchange rates are as follows: Date U.S. Dollar per Chinese Yuan (CNY) September 30, 2020 $ 0.170 December...

At the end of September, the Stone Company had units that were 10% complete as to...

At the end of September, the Stone Company had units that were 10% complete as to labor and overhead. Stone adds all materials at the beginning of the process. The costs associated with these units were: Direct materials 94,000 Direct labor 3,000 Overhead 1,000 Production data for September and October units were as follows: September's ending work-in-process 20,000 October's ending work-in-process 10,000 Units completed during October 40,000 During October, the costs incurred were $90,000 for materials and $40,000 for labor...

On September 1, two jobs were in process at Pete’s Patios. Details of the jobs follow:...

On September 1, two jobs were in process at Pete’s Patios. Details of the jobs follow: Job Number Direct Materials Direct Labor PP-24 $ 960 $ 372 PP-30 655 1,700 Materials Inventory on September 1 totaled $5,550, and $662 worth of materials was purchased during the month. Indirect materials of $102 were withdrawn from materials inventory. On September 1, finished goods inventory consisted of two jobs, PP-12, costing $2,358, and PP-14, with a cost of $932. Costs for both...

Fifteen hundred employees of a major aircraft company were initially examined in 1951 and were classified...

Fifteen hundred employees of a major aircraft company were initially examined in 1951 and were classified by diagnostic criteria for coronary artery disease (CAD). Since then, new cases of CAD have been identified by examinations every five through diagnostic criteria and death certificates. Incidence rates in different subgroups have been computed. 15. Is this study experimental or observational? 16. Is this study an ecological study? 17. Is this study longitudinal or cross-sectional? 18. Is this a case-control study?

Course:Business Law On 15 September 2020, Tammy purchased from CC two tickets to the Ed Shearer...

Course:Business Law On 15 September 2020, Tammy purchased from CC two tickets to the Ed Shearer concert in Brisbane on 07 January 2021. The reality is that as at 15 September 2020, due to the current COVID – 19 pandemic, it was highly unlikely that the Ed Shearer concert would proceed. Jane purchased 3 tickets to the same concert as Tammy however unlike Tammy, Jane purchased her tickets in January of 2020, at a time when there was every expectation...

Firm A uses a process-costing system. For September 2020, the company had the following activities: Beginning...

Firm A uses a process-costing system. For September 2020, the company had the following activities: Beginning work-in-process inventory 7,000 units Units placed in production, current 23,000 units Good units completed 25,000 units Ending work-in-process inventory 2,000 units Direct material costs, beginning $3,000 Conversion costs, beginning $2,000 Direct material costs, current $30,000 Conversion costs, current $10,000 Direct materials are placed into production at the beginning of the process. Beginning WIP is 100% complete as to direct materials and 30% complete as...

Question