The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Chapter 25, Problem 4BCP
Superfund. A by-product of phosphate fertilizer production is pyrite waste, which contains arsenic and lead. From
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In 2011, Sarah Waterston, her brother Michael Waterston, and his spouse Maria Hristova founded Kinsip House of Fine Spirits (Kinsip), a “grain-to-glass” operation that was certified as an artisan distillery.2 By 2020, the business was offering a varied product mix, including nine spirits, two liqueurs, 12 bitters, and maple syrup aged in whisky barrels. During the tourist season of May to late October, the three cofounders offered tours of their farm, operated a tasting bar for the spirits, and managed a store that featured the distillery’s products. The farm also included one of few cooperages in Canada, a point of interest that also emphasized the distinctiveness in Kinsip’s operation and products.
By March 2020, the COVID-19 pandemic had led to a shortage of hand sanitizer, which prompted Kinsip (and many other distilleries) to begin producing this new product. Distilleries already produced ethanol, the key ingredient in hand sanitizer, as part of their normal operation. Kinsip’s…
In 2011, Sarah Waterston, her brother Michael Waterston, and his spouse Maria Hristova founded Kinsip House of Fine Spirits (Kinsip), a “grain-to-glass” operation that was certified as an artisan distillery.2 By 2020, the business was offering a varied product mix, including nine spirits, two liqueurs, 12 bitters, and maple syrup aged in whisky barrels. During the tourist season of May to late October, the three cofounders offered tours of their farm, operated a tasting bar for the spirits, and managed a store that featured the distillery’s products. The farm also included one of few cooperages in Canada, a point of interest that also emphasized the distinctiveness in Kinsip’s operation and products.
By March 2020, the COVID-19 pandemic had led to a shortage of hand sanitizer, which prompted Kinsip (and many other distilleries) to begin producing this new product. Distilleries already produced ethanol, the key ingredient in hand sanitizer, as part of their normal operation. Kinsip’s…
A 12-unit apartment building in Newton, Massachusetts was acquired for $8,000,000 with a 70% LTV purchase money mortgage at a 5.25% annual interest rate fully amortizing over 30 years. The new owner substantially improved the building, renovating the exterior and interior. She also implemented several environmentally friendly cost-saving measures, including the installation of solar panels on the roof, that saved energy and reduced operating expenses. After two years, these upgrades and improvements led to a substantial increase in the property’s NOI to $580,000 from a net operating income of $500,000 at the time of the acquisition. What was the acquisition cap rate?
a.7.25%
b.5.25%
c.6.25%
d. 8.25%
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The Legal Environment of Business: Text and Cases (MindTap Course List)
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- explain thoroughly 3) explain the role of resort facilities. 4) explain the importance of resort facilities.arrow_forwardOn March 2, 2020, Zoe Moreau, Karen Krneta, and Veronica Visentin start a partnership to operate a personal coaching and lifestyle consulting practice for professional women. Zoe will focus on work-life balance issues, Karen on matters of style, and Veronica on health and fitness. They sign a partnership agreement to split profits in a 3:23 ratio for Zoe, Karen, and Veronica, respectively. The following are the transactions for CARLA VISTA Personal Coaching: 2020Mar. 2 The partners contribute assets to the partnership at the following agreed amounts: Z. Moreau K. Krneta V. VisentinCash S14,900 $10,500 $19,900Furniture 17,400 Equipment 19,600 14,600Total $34,500 $27,900 $34,500 They also agree that the partnership will assume responsibility for Karen's note payable of S4,900. Dec. 20 Zoe, Karen, and Veronica each withdraw $29,900 cash as a "year-end bonus." No other withdrawals were made during the year. 31 Total profit for 2020 was $109,000. 2021Jan. 5 Zoe and Veronica approve Karen's…arrow_forwardClear Field Cheese Company Case Andy Reisinger, CIO, and Sandy Knight, CSCO, of the Clearfield Cheese Company in central Pennsylvania had just returned from a meeting with Tom Powers, who was the CEO of the company. Andy and Sandy were both feeling the pressure of the competitive problems that Tom had presented in their weekly senior staff meeting. It was clear that Clearfield Cheese Company faced challenging market conditions. Background Clearfield Cheese Company was established in 1931 by two brothers, Ted and Terry Edwards, in Clearfield, which is located in an agricultural area in central Pennsylvania. At the time, the U.S. economy was in the throes of a severe economic depression. The local dairy farmers were experiencing financial duress because they could not sell their milk at a price which would cover their costs. Part of the problem was transporting the milk to Pittsburgh and other larger cities at a landed cost that was competitive with farmers in Ohio. The Edwards brothers…arrow_forward
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