BE3-8 (LO 2) On January 1- 2025- Richards Inc- had cash and common sto.docx

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BE3.8 (LO 2) On January 1, 2025, Richards Inc. had cash and common stock of $60 , 000 . At that date, me company had no other asset, liability, or stockholders' equity balances. On January 2, 2025, it purchased for cash $20 , 000 of debt securities that it classified as available-for-sale. It received interest of $3 , 000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $4 , 000 net of tax. Determine the following amounts for 2025: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2025). .

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Avertatve Mating: Aucration mating is a novrandom matifs fattero where individali with tinita cenotypts avelier phenotypes mate with one ancther more frequently thw what mold be expected iedet. a rasom mating pattern. Researchen suipins thin copic colected data in eye colon of ing icandinalian while tolution tepreient femaie eve colori. For timplicity we cely ncluae beterocesual rebationips in this eaerise. AReund any numerinat anwers zo 4 dercimal ploces if pessibie.) a) What is the arobability that a randonily choseo inale reppondert oc his partner has slue eres? b) What is the conobdinity that a randomiv chyen femaie rempondent ham blue eyes given that her partnen has clue ever? c) What is the probabilitu that a nandentw choren fernale renpendent has ble epes ghem that her partner has brens eyel d) What is the senbablitv of a randsmly chosen female respondent has blue eyes gives that her partver tas grevn eyes? e) Dees it abpear that the eye cotors of male respondents and their parthers are independent: Gapian. .

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audited financial U.S. Dist. Lexis 6444 (United States District Court for chapter? H. Rosenblum, Inc. v. Adler, 461 A.2d 138 , statements (864) the District of Maryland) 1983 N.J. Lexis 2717 (Supreme Court of New Jersey) iform Securities 51.3 Accountant's Liability to Third Party Giant 51.4 Ultramares Doctrine Texscan Corporation (TexsAct (873) Stores Corporation (Giant) hired Touche Ross \& Co. can) was a corporation located in Phoenix, Arizona. qualified opinion (Touche), a national CPA firm, to conduct audits of the The company was audited by Coopers \& Lybrand (863) company's financial statements for 2 years. Touche (Coopers), a national CPA firm that prepared audited rk product gave an unqualified opinion for both years. Touche was financial statements for the company. The Lindmmunity (875) unaware of any specific use of the audited statements ner Fund, Inc., and the Lindner Dividend Fund, Inc. by Giant. After receiving copies of these audited finan- (Lindner Funds), were mutual funds that invested in cial statements from Giant, Harry and Barry Rosenblum securities of companies. After receiving and reviewing (Rosenblums) sold their retail catalog showroom business the audited financial statements of Texsean, Lindner to Giant in exchange for 80,000 shares of Giant stock. Funds purchased securities in the company. ThereafOne year later, a major fraud was uncovered at Giant ter, Texsean suffered financial difficulties, and Lindner that caused its bankruptey. Because of the bankruptey, Funds suffered substantial losses on its investment. the stock that the Rosenblums received became worth- Lindner Funds sued Coopers, alleging that Coopers was less. In conducting Giant's audits, Touche had failed negligent in conducting the audit and preparing Texsto uncover that Giant did not own certain assets that can's financial statements. Can Coopers be held liable appeared on its financial statements and that Giant had to Lindner Funds for accounting malpractice unde omitted substantial amounts of accounts payable from the Ultramares doctrine, Section 552 of the Restate its records. The Rosenblums sued Touche for accounting ment (Second) of Torts, or the foreseeability standard malpractice. Is Touche liable for accounting malpractice Lindner Fund v. Abney, 770 S.W.2d 437, 1989 Mo. Aps under any of the 3 negligence theories discussed in this Lexis 490 (Court of Appeals of Missouri) misrepresentation money lost by the he audit report pre- .

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