Lucia, Benedict, and Sam were all best friends. One day, Lucia, Benedict, and Smith went out very late to a karaoke bar. While walking home they needed to cross the street. Lucia, being a law-abiding citizen, stopped and clicked the button to cross the street, even though it was so late there were no cars on the street. Benedict, on the other hand, realizes there is no camera on the light and no cars are coming, so he went ahead and crossed the street regardless of the legality. Sam believes he has a duty to stop for the light not because it is the law but because he has respect for law enforcement and believes he is disrespecting police by crossing the street illegally. Which theories of law does each individual likely believe in?   

Andreia, a successful model and actress, hires Igor, an experienced Hollywood agent, to negotiate her movie deals. Igor is on a golf course with Edith, an executive at a Hollywood Studio, and the two get into a physical fight regarding Andreia’s demands. Edith sues Igor for damages related to the fight. Who is responsible for Edith’s damages?    

Macy is given the opportunity to invest in a new cookie dough company, Dough Re Mi, Inc. Dough Re Mi claims that its cookie dough is made without “salmonella-causing ingredients.” Macy tries it, loves it, and becomes a majority shareholder of the company. She brings the cookie dough to her best friend Stacy’s bachelorette party as a small present. Stacy eats the cookie dough and gets food poisoning, causing her to miss her own wedding. Stacy is so upset she decides to sue Macy and Dough Re Mi. Who is liable?   

Caroline works for MindMaze Puzzles Sales Company but is fired on Monday, June 16. That same day MindMaze Puzzles Sales Company asks for the return of Caroline’s uniform, order forms, and puzzle samples, and Caroline says she will bring them in later that week. Also on the 17th, a newspaper article is released announcing that Caroline no longer works for the company.  Derek loves MindMaze Puzzles and has been a customer for over a year. He does not read the newspaper article. On Wednesday, June 18, Caroline shows up at Derek’s house to sell him the latest MindMaze puzzle. Derek has ordered from Caroline before, and she is wearing her same uniform. Unlike the past, Caroline is asking for a large payment in cash and acting oddly nervous. Derek makes the payment but never receives his puzzles. Which of the following accurately describes who could be held responsible and why?

Which of the following often trigger a eukaryotic cell to pass the restriction point of the cell cycle and continue on towards DNA replication?

Vincent is six years old. His dad is a local salesman that goes door-to-door throughout the community selling kitchen supplies and utensils. One day, little Vincent’s dad tells Vincent to join him so that the dad can show Vincent the nature of salesmanship. Vincent’s dad successfully makes a sale of a set of kitchen pans to Sophia for $150. During his sales talk with Sophia, Vincent’s dad told Sophia, “this is my son, Vincent, who has nearly graduated . . . . from kindergarten.”  Little Vincent smiled but said nothing at all, while playing with a small toy and occasionally holding a display sign for his dad.  Three months later, Sophia sees Vincent riding his bike past her house and she screams for him to stop. Sophia tells Vincent how much she loves her kitchen pans and how she wants a set for her sister. Vincent says nothing. Sophia gives Vincent $150 to place the order. Vincent still says nothing. Months go by and no pans are delivered to Sophia. Outraged, Sophia calls Vincent’s dad, only to learn that he has no such order for her. Sophia demands a refund of $150. Is Vincent’s dad liable to Sophia for the $150 Sophia presented to Vincent?

Smith & Sons Balance Sheet As of December 31 Cash  $ 80,000 Current liabilities $ 160,000 Accounts receivable 160,000 Bonds payable 240,000 Inventory 260,000 Common stock 400,000 Plant assets (net) 500,000 Retained earnings 200,000 Total Assets $1,000,000 Total liabilities and stockholders’ equity $1,000,000 Sales revenue for the year was $1,600,000, gross profit was $640,000, and net income was $72,000. One year ago, accounts receivable were $152,000, inventory was $220,000, total assets were $920,000, and stockholders’ equity was $520,000. What was the company’s return on common stockholders’ equity?

On January 1, the accounts receivable balance for Hardin Company was $14,000 and the balance in the allowance for doubtful accounts was $1,400. On that day, a $600 doubtful account was written off. The net realizable value of accounts receivable immediately after the write‑off is:

The following represents the inventory of Kapka Company for the month of April: April 1  Beginning Inventory  100 units @ $16 April 2  Sales                50 units April 3  Purchases            300 units @ $24 April 10  Sales                250 units April 21  Purchases            400 units @ $32 April 28  Sales                200 units   Assuming a periodic inventory system is used by Kapka Company, what is ending inventory under LIFO?

During its first and second years of operations, Luna Company, a corporation using a periodic inventory system, made undiscovered errors in taking its year‑end inventories that overstated year 1 ending inventory by $240,000 and overstated year 2 ending inventory by $180,000. The combined effect of these errors on reported income is: