Company VVE constructed PLGC and estates in country T in two phases, 1 and 2. Another company VVP had cut the roadways and constructed water, sewer, and stormwater lines with the help of water inlets for development purposes. Person F, the president and owner of VVP and a sole general partner of company VVP, failed to get the proper permits for the development work in a timely manner. Person F also failed to comply with the requirement of the permits, once the permit was obtained. Person MD who was the attorney general of the state filed a case against company VVE and person F for presumably violating the law of water pollution control in the state. The court entered the judgment in favor of F. To find: The apportionment of penalties amongst the three defendants.

Question

Want to see the full answer?

Answer 1

Question

Chapter 17, Problem 2CT

Summary Introduction

Case summary: Company VVE constructed PLGC and estates in country T in two phases, 1 and 2. Another company VVP had cut the roadways and constructed water, sewer, and stormwater lines with the help of water inlets for development purposes. Person F, the president and owner of VVP and a sole general partner of company VVP, failed to get the proper permits for the development work in a timely manner. Person F also failed to comply with the requirement of the permits, once the permit was obtained. Person MD who was the attorney general of the state filed a case against company VVE and person F for presumably violating the law of water pollution control in the state. The court entered the judgment in favor of F.

To find: The apportionment of penalties amongst the three defendants.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Don't used hand raiting

I cannot figure out the account of "Goodwill" or "APIC from Pushdown Accounting." I thought APIC should be $285,000, but it didn't work for some reason. And I didn't know we had goodwill, but we do, and I can't figure out how to get the correct answer. I tried $350,000 for APIC, but that also doesn't work, and I am at a loss of what to do next. Please explain as clearly as possible how to do Goodwill and the APIC from Pushdown Accounting. Thanks so much! :)

3) A startup firm, Pocket International, has come up with a tiny programmable computer, NerdCom Mini Air, that sells for $49.99. The firm estimates that the programmable computers have an expected life that is exponential, with a mean of 24 months. The firm wants to estimate the probability that the NerdCom Mini Air will have a life that ends: a) after the initial 24 months of service. b) before the 24 months of service is completed. c) not before 48 months of service. Note: You could work out the problem by hand or use excel; in chapter 4S, section 4S.2 of the Stevenson text, reliability (finding the probability of functioning for a specified length of time) is covered with examples; chapters 4 & 4S Stevenson lecture power point slides 33 to 38 (chapters 4 & 4S lecture: 32.30 mins to 38.56 mins) cover reliability over time with examples.