Reference no: EM131214316
Henry Jacobs went to Home Lumber Center where he bought a 12 foot beam weighing 100 pounds. In the lumberyard, a store employee used a forklift to place the beam in the back of Jacobs' truck. Since the beam stuck out 4 feet, the employee flagged the beam. A sign in the lumberyard stated that it was store policy not to secure loads for customers. Jacobs, who did not get out of the truck or check the load, pulled out into a public street. When he turned, the beam fell off the truck hitting another vehicle. Jacobs sued Home Lumber for negligence. a. Jacobs will lose because the risk of loss passed to him when the beam was loaded into his truck. b. Jacobs will lose because he did not check the load and therefore he was the negligent party. c. Jacobs will win because the Home Lumber employee was negligent when he failed to secure the load, and the disclaimer is unconscionable. d. Jacobs will win because the risk of loss was still on Home Lumber until Jacobs got home.
|
Determine the amount of net income mazer would report
: During its first year of operation Mazer Manufacturing Company produced 2,000 units of inventory and sold 1,800 units. Mazer incurred variable product cost of $4 per unit and $2,500 of fixed manufacturing overhead costs. The sales price of the produc..
|
|
Stock investment transactions
: On March 20, 10,000 shares of Thorlite Company are acquired at a price of $30 per share plus a $250 brokerage fee. On May 30, a $0.25-per-share dividend was received on the Thorlite Company stock. On June 15, 5,000 shares of the Thorlite Company stoc..
|
|
Bond investment transactions
: Journalize the entries to record the following selected bond investment transactions for Olson Products: For a compound transaction, if an amount box does not require an entry, leave it blank.
|
|
Statute of frauds and refuses to sell the laptop to buyer
: Seller orally agrees to sell his laptop to Buyer for $600. Buyer tenders the purchase price but Seller asserts the Statute of Frauds and refuses to sell the laptop to Buyer.
|
|
The beam fell off the truck hitting another vehicle
: Henry Jacobs went to Home Lumber Center where he bought a 12 foot beam weighing 100 pounds. In the lumberyard, a store employee used a forklift to place the beam in the back of Jacobs' truck. Since the beam stuck out 4 feet, the employee flagged the ..
|
|
Price which contained sign and return form
: Jack's Ice Cream orally agreed to sell ice cream to Town Field Stadium for $5000. Jack's sent Town Field an order confirmation form that stated the goods, quantity, and price which contained a "sign and return" form. Town Field did not sign and retur..
|
|
Premium amortization
: Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. I just need to know where to DR or CR the Interest expense and how much a..
|
|
What is the total value of the cash flows of the firm
: A project’s annual operating cash flows for the next five years are $120,000, $150,000, $180,000, $200,000, and $220,000. Assuming a discount rate of 12% and a terminal growth rate of 3%, What is the terminal value for assessing the cash flows after ..
|
|
Estimate the company real cost of capital
: You are considering a new project, which costs $600,000 and is expected to have the following nominal cash flows of $200,000, $220,000, $220,000, $200,000, and $180,000 in years 1 through 5. The company’s nominal cost of capital is 10%. The expected ..
|