Anak Mami Berhad owns a factory which sits on freehold land. The factory produces metal works for hawker stalls since Merdeka. The factory was revalued ten years ago and is being depreciated over 50 years from that value. The company made one nasi kandar stall lines many years ago and today the meta used is toxic. Anak Mami expects a nasi kandar stall owner in Sungai Petani will take logal action - gainst them No montion was
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- a b Weaver Company is being sued by a former employee, Weaver believes that there is a remote chance that the employee will win. The employee suing Weaver for damages of $40,000 Gulf Refinery had a gas explosion on one of its oil rigsGulf believes it is likely that it will have to pay environmental clean-up costs and damages in the future due to the gas explosion. Gulf cannot estimate the amount of the damages Lawson Enterprises estimates that it will have to pay $75,000 in warranty repairs next yearChip and Dale run separate logging companies in the same forest. Both pollute the river flowing through the forest with debris from their work. In the table below, the first row shows the current level of debris that makes its way into the river from their work. The following rows show how much it would cost each logger to reduce its pollution by additional increments of 10 pounds. If the government imposes a pollution tax of $7 for each 10 pounds of debris, total pollution will fall by. pounds, at a total cost of Chip Dale Current debris in pounds 60 80 Cost of reducing debris by 10 pounds $5 $2 Cost of reducing debris by a second 10 pounds $10 $4 Cost of reducing debris by a third $15 $6 10 pounds Cost of reducing debris by a fourth 10 pounds $20 $8 Cost of reducing debris by a fifth $25 $10 10 pounds a) 40, $28Earlier this week you closed a deal to sell 20 houses you constructed in a new neighborhood. Like any other product that a business sells, these houses were considered inventory until you sold them. The houses were sold to another developer who is buying the surrounding land and would like to enlarge the neighborhood; as a result, he would like to control marketing and sales for the entire development. The developer bought the houses at a slightly discounted price to facilitate their resale at a profit. You benefited from the sale because you avoided the necessity of selling the houses one at a time and the risk of carrying unsold inventory. How should this $4 million be categorized on your income statement? Oa. Should appear as net income on the income statement. O b. Should not appear on the income statement because you received cash. Oc. Should appear as operating income on the income statement. Od. Should appear as revenue on the income statement.
- A diesel refinery is upstream of an industrial farm. The runoff from the refinery pollutes the river and damages the crops. The farm earns $479 using the polluted water, but would earn $621 if it were clean. The refinery earns $6015 but would only earn $5839 if it had to divert resources to prevent the runoff. There are no environmental laws. Assume that a scrubbing machine that would prevent the runoff costs $17 plus an installation cost. What is the most that installation could cost for clean water to be the socially optimal outcome achieved through private bargaining? a. $176 b. $159.00 c. $34.00 d. $125.00 e. Anything, the machine is not required as clean water will already be achieved.Igor owns a rental house and had to paint the living room, kitchen and bathroom after the most recent tenant moved out. The rooms had not been painted in the last five years and he worried he would not be able to rent it out to another tenant at the current fair market value if he didn’t repaint. The cost to repaint the three rooms was $1,500 ($1,000 labor and $500 paint). What amount, if any, can Igor deduct of this expense and on what form should it be listed?Bob's Bee Emporium makes organic honey, which Bob sells at farmers' markets. The value of his Bee Emporium in its current location is $100,000. Unfortunately, Bob's bee's frequently fly to the neighboring property, Daisy's Daycare Center, and sting the small children, some of whom have allergic reaction to the bee stings. Daisy's Daycare Center business is worth $100,000, before the cost of treating any of the children, which the Daycare Center has to pay. The cost of treating the children for the bee stings is $15,000 per year. Relocating the Bee Emporium would reduce its value by $25,000. Relocating the Daycare Center would cost $10,000. The table below shows the value of the businesses under the above conditions. Daisy's Daycare Center Present Location Relocate Bob's Bee Emporium Present Location $85,000 $90,000 $100,000 $100,000 Relocate $100,000 $90,000 $75,000 $75.000 If the town imposed an injunction against Bob (meaning he would either have to shut down, relocate, or negotiate…
- Mary had a contract with Brick, whereby Brick will paint her Home for $2,000 TT. Brick regrettably got another job for a larger amount of money and told Mary that he cannot paint her house anymore. Mary is furious and has contacted her lawyer to sue Brick for breach of contract. Jeb contacted Mary soon thereafter and agreed to paint her house for $2,500 TT. Mary is however concerned that if she sues Brick, she may not be able to get any recourse via damages because she has not lost anything. Based on the rules of governing the payment of damages in the event of a breach of contract. Using IRAC please advise Mary on what she has to establish to be paid damages, clearly identifying each rule.Recently, the owner of a Trader Joe's franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $65,000, and her store made $120,000 in profits (not counting payment to her top manager). She suspected the store could do much better and feared the fixed salary was causing her top manager to shirk on the job. Therefore, this year she decided to offer him a fixed salary of $30,000 plus 15 percent of the store's profits. Since the change, the store is performing much better, and she forecasts profits this year to be $280,000 (again, not counting the payment to her top manager). Assuming the change in compensation is the reason for the increased profits, and that the forecast is accurate, (a) Which compensation method (the old one or the new one) will the manager prefer? Please explain why. (b) Which compensation method (the old one or the new one) would the owner of the franchise prefer? Please explain why. (c) If there was another…Ames, an agent for Baker Antiques, had authority to purchase early 20th -century , American furniture costing a maximum of $1500 per piece. Ames bought a 19th-century French desk for $3000 from Carter. Baker was furious when she saw the desk, and fired Ames. Nevertheless, she put the desk on display in the shop with a $5000 price tag. When the best offer, she got on the desk was $2500, Baker returned the desk to Carter. Baker told Carter that Ames had exceeded his authority in purchasing the desk, and she demanded that Carter refund the $3000 that Ames had paid for the desk. Will Carter have to refund the money? Explain why or why not. Was Ames wrongfully discharged? Explain why or why not.
- During the COVID-19 pandemic, many people decided to start making face masks and selling them on the Internet. Etsy, for example, sold face masks from many different sellers. Suppose that Mary decided to quit her job where she earned $3,600.00 per month. During the month of July 2020, Mary sold 1,100.00 masks at $7.00 per mask. The following table reports information for Mary's costs to make the face masks. Item Material Wages paid to one employee Utilities Internet advertising For the month of July 2020, Mary's revenue was $ Part 2 Mary's accounting profit was $ Part 3 Amount $3,300.00 $550.00 $110.00 $275.00 Mary's economic profit was $ . Make sure you include the negative sign if her profit is less than zero.The company is worried that his entire potato plantation which is expected to yield $400,000 income will be totally devastated by bad weather conditions. He obtained a $300,000 crop insurance cover for $30,000. Just before harvest a rare frost totally destroyed the plantation. the insurance company paid the policy proceeds. compute the total recovery of loss profits to be recognized by the plantation as income.Anna has been in the business of breeding stock horses on her 25 - acre property for the past 20 years. Now retiring from the business, Anna has decided to sub-divide and sell off her land in small parcels. She has been advised by her neighbours who have done the same thing that she will achieve a much better price for the farm by doing this. Anna engaged a surveyor and applied to the local council for the relevant development applications. Deciding to retain a block of 50 acres on which her house was situated and so that she could still keep a few horses. She then sub-divided the remaining land into forty blocks of five acres. All up the sub - division work cost Anna $200,000 which included removal of trees, land levelling and road clearing. In March 2023, Anna was $2,200, 000 by a property developer for ten of the blocks. She accepted the offer and settlement took place in April 2023. The developer then went on to connect utilities and offer house and land packages for sale. Ten of…