Barbara was a regular shopper at Egeeay Supermarket, which was part of a large nationwide supermarket chain. She was there at least once a week and sometimes more often if the specials were really good. When Barbara was there this week, she slipped on some grapes in the pet-food section in aisle 3, slipping and falling, and breaking her ankle. The store manager was not sure how the grapes got there or how long they had been there, but store policy was to do checks every 15 minutes of the floor in the fruit section. The store manager indicated that there were a number of spillages every week in the green grocery section of the store. The store owner wishes to know: a) Whether Egeeay Supermarket owes a duty of care to Barbara?  b) If they do, has it breached that duty of care? c) Whether your answer would be different if Barbara had slipped on some grapes in the fruit section of the store.

Marina had an accident with her car and the repair bill came to $900.  She didn't have any emergency fund money and no extra money in her monthly budget, so she ended up borrowing from a pay-day loan company.  As long as she can pay the loan back at the end of the 30 day period she won't be charged any interest, technically.  However, she did have to pay an $19 processing fee per $100 that she borrowed. If she were to consider the processing fee to represent interest paid in her formula, what would she discover to be the annual interest rate she was charged on her short term loan? [Blank-1] The end of the month has arrived and Marina was only able to save up a portion of the money she owed so far.  This means she will have to delay paying off on the remaining amount.  Besides the delayed payment fee that she is charged, she will now have to pay interest on the remaining amount until it is paid off.  The APR (annual percentage rate) is 46.5%, but the interest is compounded daily. What…

Ethics Case Electronics, Inc. is a high-volume, wholesale merchandising company. Most of its inventory turns over four or five times a year. The company has had 50 units of a particular brand of computers on hand for over a year. These computers have not sold and probably will not sell unless they are discounted 60 to 70%. The accountant is carrying them on the books at cost and intends to recognize the loss when they are sold. This way, she can avoid a significant write-down in inventory on the current year’s financial statements. 1. Is the accountant correct in her treatment of the inventory? Why or why not? 2. If the computers cost $1,000 each and their market value is 40% of their cost, journalize the entry necessary for the write-down. 3. In groups of three or four, make a list of reasons why inventories of electronic equipment might have to be written down.

The following is an excerpt from a conversation between Paula Marlo, the warehouse manager for Musick Foods Wholesale Co., and its accountant, Mike Hayes. Musick Foods operates a large regional warehouse that supplies produce and other grocery products to grocery stores in smaller communities.Paula: Mike, can you explain what’s going on here with these monthly statements?Mike: Sure, Paula. How can I help you?Paula: I don’t understand this last-in, first-out inventory procedure. It just doesn’t make sense.Mike: Well, what it means is that we assume that the last goods we receive are the first ones sold. So the inventory consists of the items we purchased first.Paula: Yes, but that’s my problem. It doesn’t work that way! We always distribute the oldest produce first. Some of that produce is perishable! We can’t keep any of it very long or it’ll spoil.Mike: Paula, you don’t understand. We only assume that the products we distribute are the last ones received. We don’t actually have to…

A large company has hired your friend. She tells you that her boss has asked customers to sign sales agreements just before year end indicating a sale has been made.The boss told customers that he will give them 30 days (well into the next year) to change their minds. If they do not change their minds they will quickly receive the merchandise. If they do change their minds he promised to cancel their orders, take merchandise back, and cancel the invoices.Your friend has been told by her boss to recognize the sales agreements as revenue this year. Your friend has concerns about recognizing revenue before the merchandise is shipped. She likes the company and wants to keep her job.What do you advise her to do?

Kory operates a sporting goods store. His records indicate that he had sales of $78,000. Customers return $1500 worth of sporting goods because of various defects. His cost of goods sold was $19,000. What is Kory's Schedule C (Form 1040) gross income?   Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Amora is one of your best friends. She keeps complaining that she runs out of money each month before she gets paid. She's asked you to help her make a budget based on her income from her part-time job. She handed you a crumpled paper with the following record of her expenditures for last month. Before you help her make a budget, first help her balance her monthly transactions by filling in the last column on the table below. To obtain the balance, add income and subtract expenditures and withdrawals. Date Transaction Expenditure Income or Balance Paycheck-Direct Deposit |ATM cash + fee Movie and soft drink Transportation $268.43 -$21.50 2/1 2/1 $17.85 $20.00 $45.00 $53.47 2/1 2/3 2/5 Hairdresser 2/10 Old Navy clothes ATM cash Jewelry Transportation 2/12 -$60.00 2/15 $36.00 $15.00 2/19

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Sheri is a car distributor in a rural area. She has customers that own relatively old cars. Tomaintain good customer service, Sheri keeps a small inventory of spare parts for old-modelscars. One item is brake boosters. Is a slow-moving item, and therefore she uses the periodicreview policy with a review period of two months. The annual demand for booster sets has anormal distribution with mean of 15 and standard deviation of 5. Because this item is out ofproduction, delivery lead time is five months. The cost of a set of boosters is $500. Sheri placeshigh value on maintaining customer satisfaction. Therefore, she considers goodwill to be crucial,and estimates the shortage cost to be $5000. Shortages are backlogged, and annual inventoryholding cost is 20%.a. Find the optimal target inventoryb. Find the implied service level for policy 1 and policy 2c. Find the safety stock for a set of brake boosters.d. Find the expected annual cost of the periodic review policye. Suppose a continuous…