Mrs. Dempsey paid $541 for a poodle named Mr. Dunphy. Unfortunately for Mr. Dunphy, he had an undescended testicle. Mrs. Dempsey could have "inspected" Mr. Dunphy but didn’t. After examinations by multiple veterinarians, Mr. Dunphy’s condition was confirmed. Mrs. Dempsey returned Mr. Dunphy to the seller and demanded her money back. The court began its analysis with, "The first test of merchantable quality is whether the goods ‘pass without objection in the trade under the contract description’ (U. C.C. Sec. 2- 314(2)(a)). This standard effectively sums up all of the various "definitions" of merchantable quality since the principal function of the warranty of merchantability has been to give legal effect to a buyer’s reasonable expectations based on trade understanding of the quality of goods normally supplied under such a contract. (51 N. Y.Jur, Sales Sec. 176)." Is an undescended testicle a breach of merchantability? [Dempsey v. Rosenthal,121 Misc.2d 612 (N. Y. 1983).]

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.a. after a long search, jon finds a job.b. tyrion, a full-time college student, graduates and is immediately employed.c. after an unsuccessful job search, arya gives up looking and retires.d. daenerys quits her job to become a stay-at-home mom.e. sansa has a birthday, becomes an adult, but has no interest in working.f. jaime has a birthday, becomes an adult, and starts looking for a job.g. cersei dies while enjoying retirement.h. jorah dies working long hours at the office.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?