Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $ 1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $ 1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system. To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

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Can you help me solve this general accounting problem using the correct accounting process?

Answer 1

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Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

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Answer 2

Question

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

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Answer 3

Question

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

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Answer 4

Question

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

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Answer 5

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

Answer 6

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

Answer 7

Chapter 24, Problem 2RE

Summary Introduction

Case summary: Person LS, an African American, read an advertisement in the newspaper of a local motorcycle dealer about the sale of a electronic scooter EZ for $1,699. Person LS reached the dealer to purchase the scooter, but found that the scooter was already sold. The salesperson offered the higher model FZ, for the previous one for $1,999.LS unwillingly decided to buy scooter FZ and wished to purchase the scooter on credit. The clerk in the credit department told LS that a cosigner is required to get a loan. When LS talked about this concern to the manager, he assured her that the clerk is mistaken. LS after seven months from purchase, received a letter from the manufacturer notifying her about recalling the model because of the defect in the braking system.

To find: The action of FTC when a merchant fails to deliver the order that was made through a website.

Answer 8

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Ch. 24 - Prob. 1RE Ch. 24 - Prob. 2RE Ch. 24 - Prob. 3RE Ch. 24 - Prob. 4RE Ch. 24 - Prob. 1IS Ch. 24 - Prob. 2IS Ch. 24 - Prob. 1BS Ch. 24 - Prob. 2BS Ch. 24 - Prob. 3BCP Ch. 24 - Prob. 4BCP

Solution Summary: The author explains how the FTC's Mail or Telephone Order Merchandise Rule has made provisions for sellers to notify the buyer when there is a delay in delivery.

Chapter 24 Solutions