JSB171 Lecture Notes - Lecture 1: Liberation Tigers Of Tamil Eelam, Federal Circuit Court Of Australia, Condition Precedent
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Question 1
You are president of ACME Enterprises. Every year you have to pay a federally imposed fee for your business. This statute arises from a statute that was previously passed by the United States Congress. Being very "anti-tax" you decide one year that you are tired of paying the fee and that you want to get the fee eliminated. However, you do believe that the fee is constitutional. Which branch of government could pass a law which could eliminate this fee for you?
Judicial B. Legislative C. Executive D. Municipal
Question 2
Which of the following statements is not true?
Bob, a resident of New Jersey, sues Ed, a resident of Florida, for $100,000 over a real estate deal. Bob must bring his suit in a Florida court. B. The conflict of laws may guide a federal court in deciding which state's laws to apply in a case. C. Federal courts have exclusive jurisdiction over bankruptcy cases. D. You are not required to be represented by an attorney in small claims court
Question 3
You were convicted of the federal crime of possession of cocaine with intent to distribute across interstate lines. Your case was tried in the United States District Court for the Southern District of West Virginia. Now, you wish to appeal your case to get your conviction overturned. To which body should you first appeal your case?
United States Supreme Court B. 4th Circuit Court of Appeals. C. United States Magistrate Court D WV Supreme Court
Question 4
Venue concerns:
Whether a federal court has jurisdiction B. The most appropriate court for the action to be brought within a particular state or federal jurisdiction C. Whether a state court has jurisdiction. Whether a defendant has properly served with process
| Question 5 |
The decision of a state court can never be appealed to the U.S. Supreme Court.
True or False
Question Six
A rule of law enabling the defendant to win even if all of plaintiffâs allegations are true is a
| A. | Counterclaim B. Deposition C. Judgement N.O.V. D. Affirmative Defense |
Question 7
Johnson is a creditor of Barnes. Johnson wants to file a petition to have Barnes declared bankrupt. Which of the following statements is true?
Johnson can file his petition in either state or federal court B. Johnson should file his petition in US. District court C. Only a federal bankruptcy can hear a bankruptcy case D. bankruptcy cases can be heard in federal tax court
Question 8
Which of the following is a type of alternative dispute resolution that is binding on the parties?
Mediation B. Non-binding arbitration C. Binding arbitration D. Summary jury trial
Question 9
A writ of certiorari is the most common way to appeal a case to the Supreme Court.
True Or False
Question 10
A written record of the entire trial proceedings including the testimony of all the witnesses and any discussions between the judge and the attorneys is called a:
Treatise B. Citation C. Brief D. Transcript
Question 11
Which of the following Alternative Dispute Resolution processes can result in a decision that, under most circumstances, can't be appealed to another organization?
Binding Arbitration B. Non-binding Arbitration C. Mediation D. Mini-trial E. A & C F. None of the above
Question 12
The decision of a mediator is binding upon the parties.
True or False
Question 13 A new claim stating that plaintiff owes defendant damages because of harm resulting from the incident alleged in the complaint is a(n):
Affirmative defense B. Cross-claim C. Counterclaim D. Dissenting opinion
| Question 14 Federal question jurisdiction: A type of jurisdiction possessed by state trial courts B. Is the most common form of U.S. supreme court jurisdiction C. requires that the amount in controversy be at least $10,000 D. is jurisdiction over questions arising under federal laws, treaties, and in the U.S. constitution Question 15 The primary way a case can be appealed to the West Virginia Supreme Court is through filing a document referred to as a: Writ of certiorari B. writ of habeas corpus C. writ of quo warranto D. writ of mamdamus Question 16 Which of the following is NOT true of the appellate procedure? The appellate court hears witnesses and fathers new evidence B. A transcript of the trial must be sent to the appeals court C. The appealing party must show that material errors occurred in the trial D. The appeals court may reverse and remand the decision Question 17 If P sues D, and D wants to allege that P's own negligence caused her injury, D should allege this in: The complaint B. The answer C. The reply D. The counterclaim Question 18 Uncle Jesse wants to sue Cletus Hogg (Uncle Jesse's neighbor) for trespassing on Uncle Jesse's land and for causing $50,000 worth of damage to Uncle Jesse's land. Both Uncle Jesse and Cletus live in Jackson County, West Virginia. Uncle Jesse comes to the law office you work for and your supervising attorney concludes that Uncle Jesse's case can take place in state court in West Virginia. What court should your law firm file the complaint in? Jackson county superior court B. Jackson county circuit court of appeals C. United states district court in the southern district of WV D. Jackson county circuit court E. 4th court of appeals Question 19 Cases heard in the federal courts must involve either a federal question or situations in which there is diversity of citizenship between the parties. True or False Question 20 In the American legal system, a judge cannot overturn a jury verdict. True or False Question 21 A U.S. Court of Appeals is empowered to: Hear witnesses and determine facts B. Hear only patent, copyright, and trademark appeals C. Review legal conclusions reached by lower federal courts and administrative agencies D. Make findings of fact Question 22 A mini-trial is conducted under the supervision of the court. True or False Question 23 Eve attempts suicide by locking herself inside the trunk of her car. Someone discovers Eve after several days. She is still alive. Eve sues the manufacturer of her car for a large amount of money because it did not provide for a latch inside the trunk. Which of the following may be the first step that the car manufacturer would want to make in this case? Make a motion to dismiss the case B. Make a motion for a directed verdict C. Make a motion of judgement n.o.v D. Take the case to small claims court Question 24 Which of the following is NOT true of trials? Preponderance of evidence is the standard used in civil trials B. proof beyond a reasonable doubt is the standard used in criminal trials C. The state can make a motion for judgement notwithstanding the verdict when the defendant is acquitted in a criminal trial D. a directed verdict may be granted in a civil case if the plaintiffâs evidence is not sufficient to support her allegations Question 25 You sued your brother in Kanawha County Circuit Court because he hit you with his car in Charleston, West Virginia and caused you to become partially paralyzed on the left side of your body. This civil law case does not involve any federal issues or law; the case is purely a state law case and it involves about $500,000 in damages. The case was tried in a state court in Charleston and your brother lost. Your brother now wants to appeal his case to try to get the jury verdict overturned. To what organization should your brother first try to appeal his case? United States Supreme Court B. West Virginia Supreme Court C. Kanawha County Circuit Court D. Kanawha County Family Court E. West Virginia Legislature |
"Customer Uncertainty." Wallace wanted baseball caps with thename of the firm of which he was president, ABC Corporation,emblazoned on the front. Fran, a merchant in specialized goods,orally agreed with Wallace that she would sell to him 200 baseballcaps at $5 each. No writing was ever made although there were anumber of witnesses to the conversation. After the caps werefinished, but before they were shipped, Wallace called to cancelthe order because his firm had just announced a merger and would nolonger be known as ABC Corporation. Fran told him to forgetcanceling the contract because she had just finished the caps.Wallace told Fran that she should have been smarter and had himsign something because without a writing, she does not have achance in court. Fran is also having problems with other customers.A father who voluntarily coached a youth softball league in hiscommunity called and orally ordered 150 baseball caps at a cost of$400 each to give out at a league banquet. He just wanted a varietyof caps with no name on them because players from different teamswould be at the banquet. Fran had sent a confirming letter to thecoach. Fran had the caps packed up and ready to go. Twenty dayslater, just before she shipped them, the coach called and told herthat there was a big feud, the banquet was canceled, and that hewas canceling the order. She believes that the coach should paydamages and that it is just that he do so because a big order wasinvolved. Finally, Fran plans on taking to small claims court amerchant customer who orally ordered 500 plain T-shirts at a costof $5 each but has not picked them up and has refused to do soafter several demands.
Are there any steps Fran should take in small claims court, orbefore she goes, regarding the customer who ordered the plainT-shirts?
A. | No, because once the parties are in court, positions of theparties are frozen. |
B. | No, because once the parties are in court, only the judge canadd evidence. |
C. | Yes, she should attempt to get the customer to admit to thejudge that he ordered the T-shirts. |
D. | Yes, she should dismiss the case before she is charged withsanctions. |
E. | Yes, she should dismiss the case before she is charged with theother party's attorney fees. |
Lambeth Custom Cabinets (B)
Jack Lambeth, a master cabinet maker, owns and operates a shopwhere he sells custom-made cabinets. At the beginning of Septemberhis business had no outstanding debt and the following amounts wereon his books:
1. Raw materials inventory, $3,350.
2. Supplies inventory, $920.
3. Work-in-process inventory, $7,200.
Overhead | |||||
Job | Materials | Labor | (50% of Labor) | ||
A-3 | $950 | $ 1,300 | $650 | ||
A-4 | 1,050 | 850 | 425 | ||
A-5 | 625 | 900 | 450 | ||
Total | $2,625 | $3,050 | $1,525 | $ | 7,200 |
4. Cash as of September 1 were $16,890.
During the month, Lambeth's woodworking crew finished jobs A-3,A-4, and A-6 but did not finish A-5. Job A-7 and A-8 was startedbut not finished during September. Overhead costs (pertainingprimarily to equipment and shop depreciation, cleaning supplies,and insurance) are applied to every job at the end of the monthunless the job is finished during the month, in which case overheadis applied when the job is finished.
During September, the followingdirect materials and direct labor costs were incurred:
Job DirectMaterials Labor
A-3 $280 $750
A-4 350 1,300
A-5 180 550
A-6 375 490
A-7 590 370
A-8 900 870
Total $2,675 $4,330
Other financial factors of importance pertaining to Septemberwere:
A. $2,675 of raw materials werepurchased during the month.
B. Supplies of $780 were purchasedwhile $590 were used and thus transferred to the manufacturingoverhead account.
C. Total increases to the laborgeneral ledger account were $6,850. (Apparently there was $2,520indirect labor charged.)
D. General and administrative expenses for the month were$3,420.
E. Collections received from customers on jobs A-3, A-4, and A-6amounted to $7,125, $10,600, and $2,750, respectively, for a totalof $20,475.
F. At the end of the month, Lambeth Custom Cabinets had nooutstanding debts.
While Jack was reviewing theSeptember data he became very concerned about the manufacturingoverhead variance (MOV). Since Jack never wanted to lay off anemployee, the MOV was always large in months when business wasslow. (Jack assigned unoccupied workers to general clean-up andrepair worl< and charged their wages to indirect labor.) Ofcourse, Lambeth realized why the MOV was so large. What he worriedabout, however, was Mrs. Carter.
Mrs. Carter, a neighbor, hadstopped in the shop one day in early September to get a price onsome cabinets she wanted built. Jack's son, Jack Jr., spoke withher. Jack Jr. was working in the shop while on summer vacationbetween his first and second year of graduate business school. JackJr. studied the plans that Mrs. Carter had and estimated the costto build her cabinets at $2,050. His job estimation sheetshowed:
Lumber $990
Finishingmaterials 100
Direct laborcost 640
Overhead 320
$2,050
When Jack Jr. quoted a price of$2,560 ($2,050 cost $510 profit) to Mrs. Carter, she said that shecould get the same thing built by Walworth Custom Kitchens for$1,950.
Furthermore, she informed Jack Jr.that, "1 would throw the dumb economics books away before I wouldpay a penny more than $1,950 for book cabinets to store them."
Jack Jr. simply told her that hisbest price would be $2,560. He explained all about labor,materials, profit, overhead, and competitive capitalism. Inaddition, he told Mrs. Carter that Walworth couldn't make money ona $1,950 price and if Walworth was really willing to build theshelves for $1,950 she would be stealing from Mr. Walworth!
Mrs. Carter was very angry when sheleft. Jack Jr. later told his father the whole story and laughed ashe said, "Heck, we can't build stuff that costs $2,050 and sell itat a price of $1,950, let alone $2,000 can we?" At that timeLambeth didn't think much about the incident but he began to wonderwhether Jack Jr. had learned anything at graduate business school.Lambeth became especially concerned when he saw Bob Walworth, whosaid, "Mrs. Carter saved me last month." It seems that Walworth hadjust delivered Mrs. Carter's new cabinets for which she paid$1,950. Jack Lambeth wondered who was right â Jack Jr. orWalworth?
Prepare journal entries for the transaction for September.
Record the beginning balances in the General Ledger. Post theSeptember transaction from #1 into the General Ledger.
Prepare a Balance Sheet and Income Statement for September30th
Prepare a Variable Costing Income Statement for September30th
Based on what you know about the cost structure of LambethCustom Cabinets, could Lambeth make a profit and/or a positivecontribution margin on Mrs. Carter's order at a selling price of$1,950?
Hint: Use Excel to completerequirements 1-4.
So far I have:
Job Cost
| A-3 | Materials | Labor | Overhead | Total | Transfer to FG | WIP |
| Beg. Bal. | 950.00 | 1,300.00 | 650.00 | 2,900.00 | ||
| Sept. Act. | 280.00 | 750.00 | 375.00 | 1,405.00 | ||
| Total | $ 1,230.00 | $ 2,050.00 | $ 1,025.00 | $ 4,305.00 | $ 4,305.00 | |
| A-4 | Materials | Labor | Overhead | Total | ||
| Beg. Bal. | 1,050.00 | 850.00 | 425.00 | 2,325.00 | ||
| Sept. Act. | 350.00 | 1,300.00 | 650.00 | 2,300.00 | ||
| Total | $ 1,400.00 | $ 2,150.00 | $ 1,075.00 | $ 4,625.00 | $ 4,625.00 | |
| A-5 | Materials | Labor | Overhead | Total | ||
| Beg. Bal. | 625.00 | 900.00 | 450.00 | 1,975.00 | ||
| Sept. Act. | 180.00 | 550.00 | 275.00 | 1,005.00 | ||
| Total | $ 805.00 | $ 1,450.00 | $ 725.00 | $ 2,980.00 | $ 2,980.00 | |
| A-6 | Materials | Labor | Overhead | Total | ||
| Beg. Bal. | $ - | $ - | $ - | $ - | ||
| Sept. Act. | 375.00 | 490.00 | 245.00 | $ 1,110.00 | ||
| Total | $ 375.00 | $ 490.00 | $ 245.00 | $ 1,110.00 | $ 1,110.00 | |
| A-7 | Materials | Labor | Overhead | Total | ||
| Beg. Bal. | $ - | |||||
| Sept. Act. | 590.00 | 370.00 | 185.00 | 1,145.00 | ||
| Total | $ 590.00 | $ 370.00 | $ 185.00 | $ 1,145.00 | $ 1,145.00 | |
| A-8 | Materials | Labor | Overhead | Total | ||
| Beg. Bal. | $ - | $ - | $ - | $ - | ||
| Sept. Act. | 900.00 | 870.00 | 435.00 | 2,205.00 | ||
| Total | $ 900.00 | $ 870.00 | $ 435.00 | $ 2,205.00 | $ 2,205.00 |
J/E
| Date | Act. # | D | C |
| 9/2 | 103 | $ 2,675.00 | |
| 100 | $ 2,675.00 | ||
| Purchase of Raw Materials | |||
| 9/4 | 104 | $ 780.00 | |
| 100 | $ 780.00 | ||
| Purchase of Supplies | |||
| 502 | $ 590.00 | ||
| 104 | $ 590.00 | ||
| Supplies Used | |||
| 9/10 | 110 | $ 4,330.00 | |
| 502 | $ 2,520.00 | ||
| 100 | $ 6,850.00 | ||
| Labor Incurred | |||
| 9/12 | 501 | $ 3,420.00 | |
| 100 | $ 3,420.00 | ||
| Gen. and Admin. Expense | |||
| 9/15 | 100 | $ 7,125.00 | |
| 106 | $ 7,125.00 | ||
| Collections Received for A-3 | |||
| 100 | $ 10,600.00 | ||
| 106 | $ 10,600.00 | ||
| Collections Received for A-4 | |||
| 100 | $ 2,750.00 | ||
| 106 | $ 2,750.00 | ||
Collections Received for A-6 | |||
G/L
| #100 Cash | |||||
| Date | Description | D | C | Balance | |
| 9/1 | Beg. Bal. | $ 16,890.00 | |||
| 9/2 | Purchase RM | $ 2,675.00 | $ 14,215.00 | ||
| 9/4 | Purchase Supplies | $ 780.00 | $ 13,435.00 | ||
| 9/10 | Labor Incurred | $ 6,850.00 | $ 6,585.00 | ||
| 9/12 | G&A Exp. | $ 3,420.00 | $ 3,165.00 | ||
| 9/15 | Collections Received A-3 | $ 7,125.00 | $ 10,290.00 | ||
| 9/15 | Collections Received A-4 | $ 10,600.00 | $ 20,890.00 | ||
| 9/15 | Collections Received A-6 | $ 2,750.00 | $ 23,640.00 | ||
| #103 Raw Materials | |||||
| 9/1 | Beg. Bal. | $ 3,350.00 | |||
| 9/2 | Purchase RM | $ 2,675.00 | $ 6,025.00 | ||
| #104 Supplies | |||||
| 9/1 | Beg. Bal. | $ 920.00 | |||
| 9/4 | Purchase Supplies | $ 780.00 | $ 1,700.00 | ||
| 9/4 | Supplies Used | $ 590.00 | $ 1,110.00 | ||
| #106 Accounts Receivable | |||||
| 9/1 | Beg. Bal. | $ 20,475.00 | |||
| 9/15 | Collections Received A-3 | $ 7,125.00 | $ 13,350.00 | ||
| 9/15 | Collections Received A-4 | $ 10,600.00 | $ 2,750.00 | ||
| 9/15 | Collections Received A-6 | $ 2,750.00 | $ - | ||
| #110 WIP Control | |||||
| 9/1 | Beg. Bal. | $ 7,200.00 | |||
| 9/10 | Labor Incurred | $ 4,330.00 | $ 11,530.00 | ||
| #112 Finished Goods | |||||
| #401 Sales | |||||
| #501 Gen. & AdminExp. | |||||
| 9/12 | G&A Exp. | $ 3,420.00 | $ 3,420.00 | ||
| #502 MOH Control | |||||
| 9/4 | Supplies Used | $ 590.00 | $ 590.00 | ||
| 9/10 | Labor Incurred | $ 2,520.00 | $ 3,110.00 | ||
| #503 MOH Allocated | |||||
| #505 CGS | |||||
I need to know if what I have is correct so far and where I'mheaded next. Is COGS going to be a debit of 10040? MOH All. creditof 2165?