This case concerned an illicit purchase of smuggled gold with a purchase price of $409,000. The money was placed in a suitcase in a coin-operated locker owned and operated by American Locker Co. located in a Greyhound bus station, with the buyer and seller each having a key.
The seller’s accomplice used fraud to get a Greyhound employee to open the locker and then took the suitcase. When the seller discovered this, he sued Greyhound and American Locker. The jury, ruling for the plaintiff, found that a bailment had been created.
The Court of Appeals, however, reversed, concluding that a bailment could not have been created with a coin-operated locker because there was no common law notion of delivery for bailment purposes. The owner of the goods never gives up possession of the property because there is no “bailee” with a coin-operated locker.
Answer the following questions:
a. Do you think the assessment of the loss fell on the proper party? Why or why not?
b. Did the buyer and seller act ethically in suing Greyhound and American Locker? Whose fault was it that the money was stolen?
c. What would be the impact on coin-operated locker businesses if the jury’s verdict were allowed to stand?
In: Operations Management
On October 31, 2021. Damon Company's general ledger shows a checking account balance of $8.457. The company's cash receipts for the month total $74,720, of which $71,395 has been deposited in the bank. In addition, the company has written checks for $72,527, of which $71,342 has been processed by the bank.
The bank statement reveals an ending balance of $13,187 and includes the following items not yet recorded by Damon: bank service fees of $350, note receivable collected by the bank of $7,000, and interest earned on the account balance plus from the note of $1.320. After closer inspection, Damon realizes that the bank incorrectly charged the company's account $1,100 for an automatic withdrawal that should have been charged to another customer's account. The bank agrees to the error.
Required:
1. Prepare a bank reconciliation to calculate the correct ending balance of cash on October 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)
2. Record the necessary entries to adjust the balance for cash (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.)


In: Accounting
This is the question and everything he provided
1. See the SPSS output below. An independent t test was run to examine respondents’ attitude towards gun ownership and their attitudes towards immigration. Two variables were used to run the test: Would you favor or oppose a law which would require a person to obtain a police permit before he or she could buy a gun? (gunlaw) and number of immigrants to American nowadays should be (letin1). 1) What can you conclude based on α = .05? 2) And what would you conclude if we switch to α = .10? What does that mean? Use the examples posted on CANVAS.
|
Group Statistics |
|||||
|
FAVOR OR OPPOSE GUN PERMITS |
N |
Mean |
Std. Deviation |
Std. Error Mean |
|
|
NUMBER OF IMMIGRANTS TO AMERICA NOWADAYS SHOULD BE |
FAVOR |
335 |
3.40 |
1.076 |
.059 |
|
OPPOSE |
118 |
3.58 |
1.193 |
.110 |
|
|
Independent Samples Test |
||||||||||
|
Levene's Test for Equality of Variances |
t-test for Equality of Means |
|||||||||
|
F |
Sig. |
t |
df |
Sig. (2-tailed) |
Mean Difference |
Std. Error Difference |
95% Confidence Interval of the Difference |
|||
|
Lower |
Upper |
|||||||||
|
NUMBER OF IMMIGRANTS TO AMERICA NOWADAYS SHOULD BE |
Equal variances assumed |
3.157 |
.076 |
-1.558 |
451 |
.120 |
-.185 |
.119 |
-.418 |
.048 |
|
Equal variances not assumed |
-1.483 |
188.127 |
.140 |
-.185 |
.125 |
-.431 |
.061 |
|||
In: Statistics and Probability
Criticize the answer to the following question
Question 3: We talked about how American families are working more hours today than they did 30 years ago. Will this trend continue over the next 10 years? Why or why not?
Americans can be said to be the most overworked people in the world. According to a study by Washington Center for Equitable Growth, overwork is defined as more than 40 hours of work weekly. Most Americans especially those in higher paid professions work for over 45 hours in a week. Inequality in the economic status is one of the reasons behind the overworking America. Feeling financially insecure ad those with white collar jobs trying to prove their worth to employers has increased the trend. The trend will continue over the next few years unless the government sets laws that protect even those workers with white collar jobs.The trend might be worse, and people will be working for long hours in the next ten years, because companies, especially in finance and tech industries have embedded the culture of overwork as a sign of healthy competition. It is hard to measure an employee's output nowadays due to development of technology hence employers equate some hours worked to employees' dedication to their task. From the above, it is clear that even in coming years, America will still be an overworked nation unless the government plays a role in changing the trend.
In: Economics
Prepare journal entries to record the above transactions involving
both the short-term and long-term investments of Cancun Corp., all
of which occurred during calendar-year 2017. Use the account
Short-Term Investments for any transactions that you determine are
short term. (Use 360 days in a year. Do
not round your intermediate calculations.)
In: Accounting
Now you are employed as the public relations officer of an information technology company . The company is going to promote a new product at early in November, 2020. Being the PR officer, your assignment is to propose a press conference for the promotion of the new product at the end of October, 2020.
Your assignment should include:
In: Economics
|
nbsp |
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|
Dec. |
4 |
Sold merchandise for
$ 450 cash. The cost of merchandise was$ 350. |
|
|
9 |
Purchased merchandise from
Ree Co. on account,$3,300, F.O.B. shipping point (buyer pays freight); terms22/10, n/30. Freight to be paid onDecember 20. |
||
|
20 |
Paid freight on
December 9 purchase,$ 110. |
Journalize the following transactions. Assume the perpetual inventory system.
(Click the icon to view the transactions.)
(Record debits first, then credits. Exclude explanations from journal entries.)
December
4: Sold merchandise for
$ 450
cash. The cost of merchandise was
$ 350.
Begin by journalizing the revenue from the sale of merchandise. Do not record the cost of the sale yet. We will do that in the following step.
|
Journal Entry |
|||||
|
Date |
Accounts |
PR |
Dr. |
Cr. |
|
|---|---|---|---|---|---|
|
Dec. |
4 |
||||
Now journalize the cost of the merchandise sold.
|
Journal Entry |
|||||
|
Date |
Accounts |
PR |
Dr. |
Cr. |
|
|---|---|---|---|---|---|
|
Dec. |
4 |
||||
December
9: Purchased merchandise from
Ree
Co. on account,
$3,300,
F.O.B. shipping point (buyer pays freight); terms
22/10,
n/30. Freight to be paid on
December
20.
|
Journal Entry |
|||||
|
Date |
Accounts |
PR |
Dr. |
Cr. |
|
|---|---|---|---|---|---|
|
Dec. |
9 |
||||
December
20: Paid freight on
December
9 purchase,
$ 110.
|
Journal Entry |
|||||
|
Date |
Accounts |
PR |
Dr. |
Cr. |
|
|---|---|---|---|---|---|
|
Dec. |
20 |
||||
Choose from any list or enter any number in the input fields and then continue to the next question.
In: Accounting
The Tiffany company repurchases 10,000 shares of it's own $10 par common stock for $30/share. Assuming the stock originally sold for $25/share and there have been no previous treasury stock transactions, record the following journal transactions.
- Jan. 9 Purchased 10,000 shares of Treasury stock for $30/share. (use cost method)
- April 3 Sold 4,000 shares of Treasury stock for $40/share.
- April 23 Sold 4,000 shares of Treasury stock for $28/share
- June 25 Retired 1,000 shares of Treasury stock
PLEASE SHOW ALL WORK!
In: Accounting
1.
| The following spreadsheet contains monthly returns for Cola Co.
and Gas Co. for
2013. Using these data, estimate the average monthly return and the volatility for each stock. |
Cola Co. Gas Co.
January -0.0990 0.0440
February -0.0160 0.0560
March 0.0420 -0.0130
April -0.0260 -0.0200
May -0.0910 -0.0160
June -0.0820 -0.0380
July 0.1200 0.0470
August -0.0070 0.0040
September -0.0700 -0.0090
October 0.0120 0.0040
November 0.0920 0.1020
December -0.0110 0.0550
The average monthly return for Cola Co. is ___%.
(Round to two decimal places.)
2. Given $100,000 to invest, construct a value-weighted portfolio of the four stocks listed below.
Stock Price/Share ($) Number of shares outstanding
(millions)
Golden Seas 15 1
Jacobs and Jacobs 21 1.59
MAG 42 27.92
PDJB 8 13.29
Enter the portfolio weight below: (Round to two decimal places.)
|
Stock |
% of Total Value (portfolio weight) |
||
|
Golden Seas |
_______% |
||
3. Stocks A and B have the following returns:
Stock A Stock B
1 0.11 0.05
2 0.07 0.02
3 0.13 0.04
4 -0.03 0.01
5 0.09 -0.04
What are the standard deviations of the returns of the two stocks?
If their correlation is 0.45, what is the expected return and standard deviation of a portfolio of 55% stock A and 45% stock B?
In: Finance
It wasn’t long ago that products from Apple, perhaps the most
recognizable name in electronics manufacturing around the world,
were made entirely in America. This is not so anymore. Now, almost
all of the approximately 70 million iPhones, 30 million iPads, and
59 million other Apple products sold yearly are manufactured
overseas. This change represents more than 20,000 jobs directly
lost by U.S. workers, not to mention more than 700,000 other jobs
and business given to foreign companies in Asia, Europe, and
elsewhere. The loss is not temporary. As the late Steven P. Jobs,
Apple’s iconic co-founder, told President Obama, “Those jobs aren’t
coming back.”
At first glance, the transfer of jobs from one
workforce to another would seem to hinge on a difference in wages,
but Apple shows this is an oversimplification. In fact, paying U.S.
wages would add only $65 to each iPhone’s expense, while Apple’s
profits average hundreds of dollars per phone. Rather, and of more
concern, Apple’s leaders believe the intrinsic characteristics of
the labor force available to them in China which they identify as
flexibility, diligence, and industrial skills are superior to those
of the U.S. labor force. Apple executives tell stories of shorter
lead times and faster manufacturing processes in China that are
becoming the stuff of company legend. “The speed and flexibility is
breathtaking,” one executive said. “There’s no American plant that
can match that.” Another said, “We shouldn’t be criticized for
using Chinese workers. The U.S. has stopped producing people with
the skills we need.”
Because Apple is one of the most imitated companies in
the world, this perception of an overseas advantage might suggest
that the U.S. workforce needs to be better led, better trained,
more effectively managed, and more motivated to be proactive and
flexible. If U.S. (and Western European) workers are less motivated
and less adaptable, it’s hard to imagine that does not spell
trouble for the future of the American workforce. Perhaps, though,
Apple’s switch from “100% Made in the U.S.A.” to “10% Made in the
U.S.A.” represents the natural growth pattern of a company going
global. At this point, the iPhone is largely designed in the United
States (where Apple has 43,000 employees), parts are made in South
Korea, Taiwan, Singapore, Malaysia, Japan, Europe and elsewhere,
and products are assembled in China. The future of at least 247
suppliers worldwide depends on Apple’s approximately $30.1 billion
in orders per quarter. And we can’t forget that Apple posted $16.1
billion in revenue from the first quarter of 2014, perhaps in part
because its manufacturing in China builds support for the brand
there.
As makers of some of the most cutting-edge, revered
products in the electronics marketplace, perhaps Apple serves not
as a failure of one country to hold onto a company completely, but
as one of the best examples of global ingenuity.
Questions:
What are the pros and cons for local and overseas
labor forces of Apple’s going global? What are the potential
political implications for country relationships?
Do you think Apple is justified in drawing the
observations and conclusions expressed in the case? Why or why not?
Do you think it is good or harmful to the company that its
executives have voiced these opinions?
How could managers use increased worker flexibility
and diligence to increase the competitiveness of their
manufacturing sites? What would you recommend?
In: Operations Management