Questions
This case concerned an illicit purchase of smuggled gold with apurchase price of $409,000. The...

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 ...

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.) 


On October 31, 2021. Damon Companys general ledger shows a checking account balance of $8.457 The companys cash receipts fo

2. Record the necessary entries to adjust the balance for cash (If no entry is required for a transaction/event, select No J


In: Accounting

This is the question and everything he provided 1. See the SPSS output below. An independent...

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...

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

On February 15, paid $170,000 cash to purchase American General's 90-day short-term notes at par, which...

  1. On February 15, paid $170,000 cash to purchase American General's 90-day short-term notes at par, which are dated February 15 and pay 8% interest (classified as held-to-maturity).
  2. On March 22, bought 900 shares of Fran Industries common stock at $24 cash per share plus a $180 brokerage fee (classified as long-term available-for-sale securities).
  3. On May 15, received a check from American General in payment of the principal and 90 days' interest on the notes purchased in transaction a.
  4. On July 30, paid $51,000 cash to purchase MP3 Electronics' 7% notes at par, dated July 30, 2017, and maturing on January 30, 2018 (classified as trading securities).
  5. On September 1, received a $0.36 per share cash dividend on the Fran Industries common stock purchased in transaction b.
  6. On October 8, sold 450 shares of Fran Industries common stock for $30 cash per share, less a $160 brokerage fee.
  7. On October 30, received a check from MP3 Electronics for three months’ interest on the notes purchased in transaction d.


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...

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:

  1. Introduction/background of the company (under 100 words)
  2. Brief description of the new product with news value (under 70 words)
  3. Illustration of the press conference including the objectives, target audiences and the three stages from preparation to after the event. (about 730 words in essay forms)
  4. Conclusion (under 100 words)

In: Economics

nbsp Dec. 4 Sold merchandise for $ 450 cash. The cost of merchandise was $ 350....

nbsp

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); terms

22​/10,

​n/30. Freight to be paid on

December

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 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...

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...


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