A federal regulation sets a quantitative limitation on the amount

A federal regulation sets a quantitative limitation on the amount of a certain pollutant that may be emitted fro industrial smoke stacks. Your state also has a standard, but the permisissible amount is lower, in determining whether the state’s standard is applicable, a courts decision will depend upon,A) the way in which the balance of intersts(state verses federal) is best served,B) whether the state standard tends to interface with the purpose of the federal regulation,C) the way in which the balance of interest(helath verses economics) is best served,D) whether the state standard tends to be more restrictive or more permissive than the federal standard

Problem 8-66 Profit-sharing plan at oechst

Problem 8-66 ,,Profit-sharing plan at oechst Celanese ,Hoechst Celenase, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to motivate employees. To operationalize the plan, the Hoechst Celanese executive committee set a target earnings from operations (EFO). This target was based on the company’s business plans and the economy’s expected performance. The performance sharing plan also used two other critical values: the earnings from operations threshold amount and the earnings from operations stretch target. The targets for 1994 are shown here: ,,Threshold Target Stretch ,EFO EFO EFO ,$250M $320M $390M , Earnings from Operations ,,The plan operates as follows. If earnings from operations fall below the threshold value, there is no profit sharing. If earnings from operations lie between the threshold amount and the target, the profit-sharing percentage is prorated between the threshold award of 1% and the target payment of 4%. For example, if earnings from operations were $285 million, the profit-sharing percentage would be 2.5%: ,,Profit-sharing percentage=1% +{3%*[(285-250)/(320-250)]}=2.5% ,Profit-sharing pool=2.5%*$285,000=$7,125,000 ,,If earnings from operations are between the target and the stretch target, the profit-sharing percentage is prorated between the target payment of 4% and the stretch-sharing payment of 7%. For example, if earnings from operations were $350 million, the profit-sharing percentage would be 5.29%, and the profit-sharing pool would be $18.5 million: ,,Profit-sharing percentage=4%+{3%*[(350-320)/(390-320)]} , 5.28571% ,Profit-sharing pool=5.28571%*$350,000,000=$18,500,000 ,,If earnings from operations equal or exceed the stretch target level, the profit-sharing pool would be $27.3 million: ,,Profit-sharing pool=7%*$390,000,000=$27,300,000 ,,,a. List, with explanations, what you think are desirable features of the Hoechst Celanese Performance Sharing Plan. ,,,,b. List, with explanations, what you think are the undesirable features of the Hoechst Celanese Performance Sharing Plan. ,,,,c. The EFO for 1994 was $332 million. Compute the size of the profit-sharing pool. ,,,,d. In 1995, th Performance Sharing Plan parameters were threshold Efo-$420 million; targt EFO – $490 million; and stretch EFO – $560 million. What do you think of the practice of raising the parameters from one year to the next?

Burt, CPA issued an unqualifed opinion on an financial statement

Burt, CPA issued an unqualifed opinion on an financial statement of Midwest Corp. These financail statements were included in Midwests annual report, and Form 10K was filed with the SEC. As a result of Burts reckless disregarded for GAAS material misstatements in the financial statements were not detected. Subsequenetly, Davis purchased stock in Midwest in the secondary market without ever seeing Midwests annual report or Form 10K. Shortly thereafter, Midwest became insolvent and the price of the stock declined drastically. Davis sued Burt for damages based on Section 10(b) and Rule 10b-5 of the securities exchange act of 1934, Burts best defense os that,A) there has been no subsequent sale for which a loss can be computed,B) Davis did not purchase the stock as part of an initial offering,C) Davis did not rely on the financial statements or Form 10-K,D)Davis was not in pivity wit Burt

16. Calculate the present value of an annual payment of $3,000

16. Calculate the present value of an annual payment of $3,000 per year for ten years at 8% (ordinary annuity) ,,17. How much will you have at the end of the 6th year if you invest $5,000 annually for six years at 7% annual rate, if you start one year from today?,, Calculate the present value for # 18, 19, and 20, if the discount rate is 12%., , 18. $45,000 today in one lump sum., 19. $70,000 paid to you in seven equal payments of $10,000 at the end of each of the , next seven years.,,20. $80,000 paid in one lump sum 7 years from now.,,21. Your Aunt Matilda Mae makes you the following offer: $15,000 upon graduation in one year or $18,000 upon MBA graduation in 3 years. Which offer should you take if current rates are 14%,

Airline has 3 cockpit positions, flight officer, cockpit, and

Airline has 3 cockpit positions, flight officer, cockpit, and pilot. It has been policy of requiring flight officers to advance to the post of pilot or be fired, a progression that takes about 10 to 15 years. The FAA requires retirement at age 60. Applicant is 45 years old and otherwise fully qualifies. Airline rejects her application on the basis of its policy of bot hiring flight officers over the age of 30. Applicants files suit. At trial, evidence is presented showing that the incedence of aviation accident decreases as a pilot gains experience and that the best experience for airline purposes is acquired by flying in airlines 3 cockpits positions. Applicants will most likely,A) lose because age is permissable basis for discrimination,B) lose because Airline has a bona fide occupational qualification defense,C) win because the BFOQ defense applies only to discrimination based on sex, religion, and national origin,D) win because the age discrimination in employment act applices to person at least 40 but not yet 65

3. For the following income statement and balance sheet, fill in

3. For the following income statement and balance sheet, fill in the missing information for the calendar year ending December 31.,,Sales ($) 600,000__________, COGS 200,000, Gross Profit 400,000__________, Expenses 300,000, EBIT (Operating Income)100,000___________, Interest Expense 10,000, EBT 90,000___________, Tax Expense(40%) 36,000, Net Income 54,000___________,, Retained Earnings, (Jan 1) 150,000, Dividends Paid 25,000,,,,,,,All assets, liabilities, and equity items are as of the end of the year., Current Assets $150,000, Non-current Assets ____________, Total Assets ____________, Current Liabilities $ 75,000, Long-term Liabilities ____________, Total Liabilities $ 171,000_____, CS and Capital in excess of par $ 300,000, Retained Earnings ____________, Total Stockholders’ Equity ____________,,,

Prepare the necessary journal entries to record the following

Prepare the necessary journal entries to record the following transactions relating to the long-term issuance of bonds by Titus Co.:,,January 1,Issued $600,000 face value, 8%, 5-year bonds for $651,000, a 6% yield. Interest is payable semiannually on January 1 and July 1. The bonds are callable at 102.,,July 1,Paid semiannual interest on the bonds. Use effective-interest amortization of any discount/premium.,,December 31,Accrued semiannual interest on the bonds,

Warranties.Herren Corporation manufactures CB radios. Each

Warranties.,Herren Corporation manufactures CB radios. Each radio is sold with a two-year unconditional warranty against defects. During 2008, 280 radios were sold for $150 each. The company estimates that the warranty cost will average $20 per unit. The actual warranty costs incurred in 2008 amounted to $2,350., ,Instructions,Prepare the journal entries for the sale of CBs, the estimated warranty cost, and the actual warranty cost incurred.,