Please answer fast Apple conspired with five publishers to undercut Amazon's 90 percent share of the e-book market, which caused e-book prices to rise to $12.99 or$14.99 from the $9.99 that Amazon charged.Refer to Fact 14.4.1. This conspiracy to raise prices violates the anti cOFmbine law becauseSelect one:O A Apple is telling the publishers the price at which they must selle books.O B. Apple is refusing to deal with Amazon.O C Apple is merging with the five publishers.O D.it substantially lessens competition in the e-book market.O E. it is creating a monopoly.

This conspirancy to raise prices viloates the anti combine law because Here Price is changes ,…

Answered: t 14.4.1. This conspiracy to raise…

Business

Finance

t 14.4.1. This conspiracy to raise prices violates the anti combine law because

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 1CP: Block Foods, a retail grocery store, has agreed to purchase all of its merchandise from Square...

See similar textbooks

Similar questions

The COVID-19 pandemic has affected one of your customers, NEST Ltd adversely. Even though the economies are fast recovering, they have contacted your company to request to purchase on credit instead of cash on delivery. Your boss, Alan, the Marketing Manager has instructed you to review their request. He has asked you to review NEST Ltd’s latest set of financial statements. (a)Identify the key financial statements. Explain how the information reported in these statements will help you to decide whether to accede to NEST Ltd’s request.
Assume that Amazon.com sells the MacBook Pro, a computer produced by Apple, for a retail price of $1,500. Amazon arranges its operations such that customers receive products directly from Apple Stores rather than Amazon. Customers purchase from Amazon using credit cards, and Amazon forwards cash to Apple equal to the retail price minus a $150 commission that Amazon keeps. In this arrangement, how much revenue will Amazon recognize for the sale of one MacBook Pro?
15. Your client, HillTop, is a retailer of women's clothing. It has increased sales during the holiday season by advertising gift cards for in-store and online use. HillTop has found that gift card holders who come into the store tend to purchase goods that total more than the amount of the gift card. Further, about one-third of the gift cards never are redeemed, thereby yielding cash to the company without a reduction of inventory. What are the tax issues confronting HillTop related to the gift cards?
In May 2001, the Securities and Exchange Commission sued the former top executives at Sunbeam, chargingthe group with financial reporting fraud that allegedly cost investors billions in losses. Sunbeam Corporationis a recognized designer, manufacturer, and marketer of household and leisure products, including Coleman,Eastpak, First Alert, Grillmaster, Mixmaster, Mr. Coffee, Oster, Powermate, and Campingaz. In the mid-1990s,Sunbeam needed help: its profits had declined by over 80% percent, and in 1996, its stock price was down over50% from its high. To the rescue: Albert Dunlap, also known as “Chainsaw Al” based on his reputation as aruthless executive known for his ability to restructure and turn around troubled companies, largely by eliminating jobs.The strategy appeared to work. In 1997, Sunbeam’s revenues had risen by 18 percent. However, in April 1998,the brokerage firm of Paine Webber downgraded Sunbeam’s stock recommendation. Why the downgrade? PaineWebber had noticed unusually…
5. Because of copyright laws, each textbook could be considered a monopoly; no one other than the publisher can reproduce and commercialize that textbook. Textbook publishers hope to maximize profits. Authors, however, face very different incentives. Authors are typically paid royalties, which are a specified percentage of total revenue from the sale of a book. And so, for example, if an author’s contract says that she will receive 20 percent of the revenues from the sale of a text and the publisher’s total revenues are $100,000, the author’s royalties will be $20,000. Who will prefer a higher price for the text, the publisher or the author? [Explain clearly and make sure you include figures to support your answer.]
Diamond Foods, Inc. (LO 8, 9) In February 2012, the Wall Street Journal reported that Diamond Foods, Inc. fired its CEO and CFO, and would restate financial results for two years. The restatement was required after the company found that it had wrongly accounted for crop payments to walnut growers. The investigation focused primarily on whether payments to growers in September 2011 of approximately $60 million and payments to growers in August 2010 of approximately $20 million were accounted for in the correct periods. Shareholders suing the company allege the payments may have been used to shift costs from a prior fiscal year into a subsequent fiscal year. In a February 2012 filing with the SEC, the audit committee stated that Diamond had one or more material weak nesses in its internal control over financial reporting. In January 2014, the SEC charged Diamond Foods and two former executives for their roles in the accounting scheme to falsify walnut costs in order to boost earnings and meet estimates by stock analysts. Diamond Foods agreed to pay $5 million to settle the SEC’S charges. a. Does the restatement suggest that the company’s internal controls contained a material weakness? Explain your rationale. b. In September 2011, the company filed its annual report with the SEC for its fiscal year ended July 31, 2011. As part of that filing, the company maintained that it had effective internal controls over financial reporting as of its year-end date. Do you believe that management’s report on internal control over financial reporting was accurate? c. In February 2012, the audit committee indicated that the company had ineffective internal controls. What types of material weaknesses do you think might exist at Diamond?
W8-3 RM Company, owner of RM Mall, charges Hope Clothing Store, a rental fee of P60, 000 per month plus 5% yearly profits over P5, 000,000. Jacob, the owner of the store, directs his accountant Jun Reyes, to increase the estimate of bad debt expense and warranty costs in order to keep profits at P4, 750,000. Instructions: Should Jun Reyes follow his boss’ directive? Who is harmed if the estimates are increased
David H. Brooks, a university graduate with an accounting degree and the former CEO of DHBIndustries, Inc., was charged in October 2007 with accounting and securities fraud for failing toreport the company’s inventory at the lower of cost or market. From 2001 to 2005, DHB purchasedlarge quantities of a material called Zylon and used it in making bulletproof vests that were sold tothe U.S. military and local law enforcement agencies. During this same period, DHB learned thatZylon deteriorated rapidly when exposed to light, heat, and body perspiration. DHB knew that oneof its competitors, Second Chance Body Armor, had stopped using Zylon in its vests and, eventually, discontinued its business because customer demand for its Zylon-based vests had evaporated.DHB did not write down its own inventory of Zylon and Zylon-based vests because it had a largecontract to supply the U.S. military with bulletproof vests. In its financial statements for the yearended December 31, 2004, DHB reported…
Six months after President Duterte signed the Rice Liberalization Law which allows private, foreign traders to import rice in the country without being subjected to price stabilization, Abuyog Rice Marketing, a local rice-producing enterprise, was forced to drop its selling price from P50 to P42 per kilo to compete with the imported rice in the market. It was shown in the income statement for the month of August 2017 that the enterprise sold 75 kilos of rice, net P81,900, with P48,516 cost of sales. Before the said law, for every P1 of sale the enterprise generates, it was earning C50.09. What are the implications of the tariffication law in relation to the profitability of the enterprise?
Indicate the assumption or principle that is most clearly violated using the following terms, chosen from the terms listed: 1. Dollar Saver has 20,000 Model 44G cell phones in inventory at a cost of $64 each. Due to the advancement of technology and newer models available, only 4 of Model 44G phones were sold last month. To avoid recognizing a loss on writing off this inventory, Dollar Saver has decided not to issue financial statements until at least half of the remaining Model 44G phones have been sold. select an appropriate term 2. Homer Bates, president of Bates Machinery, took an iPod Touch case out of inventory to use as a birthday present for his son. The cost was debited to Supplies Expense. select an appropriate term 3. Wilson, Inc. made no entry to record depreciation on its equipment for 2014. select an appropriate term…
Block Foods, a retail grocery store, has agreed to purchase all of its merchandise from Square Wholesalers. In return. Block receives a special discount on purchases. Over recent months, Square noticed that purchases by Block had been falling off. At first, Square simply thought that business might be down for Block and was hopeful that their purchases would pick up. When business with Block did not return to a normal level, Square requested financial statements from Block. Squares records indicate that Block purchased 300,000 worth of merchandise during 20-1, the most recent year. Selected information taken from Block's financial statements is as follows: REQUIRED Compute net purchases made by Block during 20-1. Does it appear that Block violated the agreement?
Bubble Candies is being sued by a customer for $2 million for breach of contract over a cancelled order. Bubble Candies has obtained legal opinion that there is a 20% chance that Bubble Candies will lose the case. Accordingly Bubble Candies has provided $400,000 ($2 million × 20%) in respect of the claim. The unrecoverable legal costs of defending the action are estimated at $100,000. These have not been provided for as the case will not go to court until next year. What is the amount of the provision that should be made by Bubble Candies in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets ? Select one alternative A. $2,000,000 B. $2,100,000 C. $500,000 D. $100,000