Questions
Medi Corp is a corporation that deals in the manufacturing of medical devices. It has just...

Medi Corp is a corporation that deals in the manufacturing of medical devices. It has just received a patent from the U.S. Patent and Trademark Office for one of its surgical robotic knee devices. The patent is for the purpose of use in full knee replacement surgeries, which was stated on the patent’s application. For part of the manufacturing process, Medi Corp uses Tech Co. to assemble the computer components that run the robot. Tech Co. is a computer company that manufactures a lot of the computer components for several medical device companies in the U.S.

Medi Corp has been considering making a bid to acquire Tech Co. If Medi Corp acquires Tech Co., the transaction would likely be around $100 million dollars. Tech Co. is one of only three companies in the U.S. that manufactures and assembles these computer components for medical devices, and is the biggest of the three companies that offer these services, with the other two companies several million in revenue behind Tech Co. Moreover, Medi Corp. is considered a leader in medical device manufacturing in the U.S. Both companies are publicly traded companies.

Tech Co.’s board of directors are willing to approve of a merger with Medi Corp. Rebecca is on the board of directors for Tech Co. She tells her husband that he should consider purchasing Medi Corp stock. Rebecca does not tell her husband any of the confidential information of the potential merger with Medi Corp., but her husband does know that she is on the board of directors at Tech Co. and that Medi Corp is a company Tech Co. does business with. Bob is an employee of Tech Co. He has been courted by Comp Inc., one of the competitors of Tech Co.

Bob has decided to leave Tech Co. for a senior placement at Comp Inc. At Tech Co., Bob works on the manufacturing of these computer components for Medi Corp. At Comp Inc., he will be in more of a management position, determining which companies Comp Inc. should be doing business with, and managing those employees that are in the manufacturing facilities.

Please answer the following question and provide legal reasoning:

If Medi Corp learns that Comp Inc. is releasing a robotic surgical device for hip replacement surgery that has similar technology to its surgical robotic knee devices, does it have any recourse against Comp Inc. for patent infringement? Please fully explain your answer as to what it must prove for this complaint against Comp Inc., and any defenses Comp Inc. has against this claim. Also explain if there could be any recourse against Bob directly if Bob had originally signed a confidentiality agreement with Tech Co. when he worked for them.

{THIS IS ALL THE INFORMATION AVAILABLE. IF THIS IS A REPEATED QUESTION FROM LEGAL STUDIES, WHERE CAN I FIND IT?}

In: Psychology

Calculate Lopez’s cost recovery deduction for 2019 if the building is: a. Classified as residential rental real estate. b. Classified as nonresidential real estate.

Lopez acquired a building on June 1, 2014, for $1 million. Calculate Lopez’s cost recovery deduction for 2019 if the building is:

a. Classified as residential rental real estate.

b. Classified as nonresidential real estate.

In: Accounting

What amount of goodwill did Hershey recognize in the combination? Prepare a schedule that computes the...

What amount of goodwill did Hershey recognize in the combination? Prepare a schedule that computes the goodwill recognized in the acquisition as the difference between the consideration transferred for Amplify and the fair values of the individually identified assets and liabilities acquired.

In: Accounting

Thoughts on Bankruptcy Law? Is it appropriate to have a legal mechanism in place whereby legally...

Thoughts on Bankruptcy Law? Is it appropriate to have a legal mechanism in place whereby legally acquired debt is able to be eliminated through the legal process? What are the pros and cons of this concept from the standpoint of the creditor and the debtor?

In: Finance

How could Marie have acquired herpes? (Hint: there are multiple possibilities). 3. What can Marie do...

How could Marie have acquired herpes? (Hint: there are multiple possibilities). 3. What can Marie do to cope with her current outbreak? 4. How might she discuss this situation with Christina?

In: Nursing

Explain whether the grounding of the Boeing 737 max aircraft would affect the financial statements of...

Explain whether the grounding of the Boeing 737 max aircraft would affect the financial statements of airlines, such as Southwest, United and American Airline, that have acquired Boeing 737 max aircraft.

https://youtu.be/-PKWTrR6Xs0

In: Accounting

Mike, Matt, Brooke, and Kellie decide to go into business together. The form a limited partnership...

Mike, Matt, Brooke, and Kellie decide to go into business together. The form a limited partnership where Mike, Matt, and Brooke are the limited partners. They contribute the following amounts:

Mike - 25,000
Matt - 10,000
Brooke - 10,000
Kellie - 5,000

Additionally, the partnership agreement states that all profits are to be distributed equally. Mike will perform high level management services for the company and will be paid $130,000 a year for those services. The company will be able to deduct this amount from net income.

In the first year of operations, the company had the following items of income:

Services - 190,000
Expenses - 24,000
Tax Depreciation - 28,0000

Finally, no one withdraw any money from the partnership, save Matt who withdraws $15,000.

Using 2020 rates, what is the Self Employment Tax to be paid by Mike? (Enter in a properly rounded figure to nearest dollar)

i think it is $2000 times self employment tax rate, not sure though (also not sure what self employment tax rate is)

In: Finance

The ledger of Crane Limited at October 31, 2021, contains the following summary data: Cash dividends—common...

The ledger of Crane Limited at October 31, 2021, contains the following summary data:

Cash dividends—common $128,000
Common shares 653,000
Depreciation expense 100,000
Service revenue 1,474,000
Operating expenses 934,000
Interest expense 63,000
Retained earnings, November 1, 2020 578,000


Your analysis reveals the following additional information:

1. The company has a 25% income tax rate.
2. On March 19, 2021, Crane discovered an error made in the previous fiscal year. A $64,000 payment of a note payable had been recorded as interest expense.
3. On April 10, 2021, common shares costing $84,000 were reacquired for $108,000. This is the first time the company has reacquired common shares.

Prepare a journal entry to correct the prior period error.

Prepare the journal entry to record the reacquisition of common shares

Calculate profit for the year ended October 31, 2021

Prepare the statement of retained earnings for the company for the year ended October 31, 2021.

In: Accounting

Refer again to the original data of Relax Company for the year ended on December 31,...

Refer again to the original data of Relax Company for the year ended on December 31, 2019:

Total $

Sales

2,400,000

Less variable costs

1,800,000

Contribution margin

600,000

Less Fixed Costs

250,000

Net Operating income

350,000

During 2019, company’s selling price per unit and variable cost per unit has been $60 and $40 respectively.

Calculate:

a.       A. Assume that in upcoming year of 2020, company management wants to earn a minimum profit of $150,000, how many units will have to be sold by the company to get this target profit?         

b.  B. Compute the company’s degree of operating leverage at the current sales level. What the answer means?          

c.      C.The management is considering using the high quality material for the product. This will increase the variable cost per unit by $5 but the use of high quality materials could increase the sales by 25% of the current sales volume. Prepare a proposed contribution format income statement for the year 2019 and would you suggest that changes be made?   

In: Accounting

Beijing Manufacturing Company uses perpetual inventory method.Below are the purchases and issues (sent to production) of...

Beijing Manufacturing Company uses perpetual inventory method.Below are the purchases and issues (sent to production) of direct material inventory during April 2020.

Date

Transaction

Unit

Unit Cost ($)

April 1

Beginning Inventory

60

10

April 5

Purchased

150

16

April 8

Issued

90

--

April 10

Purchased

220

20

April 14

Issued

250

--

April 15

Purchased

150

22

April 20

Issued

180

--

April 28

Purchased

70

25

April 30

Issued

100

--

A) Prepare two INVENTORY CARDs for April,

  1. if the Beijing Company uses Weighted Average Method (WAM) (round to two digits).

  1. if the Beijing Company uses First-In-First-Out (FIFO).  

B) What are the “COST OF DIRECT MATERIAL USED” and the “COST OF ENDING INVENTORY” figures under the both methods?

PURCHASES

ISSUED

BALANCE

Date

Transaction

Unit

Unit Cost

Total Cost

Unit

Unit Cost

Total Cost

Unit

Unit Cost

Total Cost

In: Accounting