Octane Service Station Essay

On March 15, Julio Trevino signed a lease agreement to operate a gasoline service station that was owned by the Octane Oil Company (here after, simply â€Å"Octane†). Trevino had contacted the regional sales manager of Octane in response to an advertisement that solicited applicants â€Å"with $25,000 to invest† to lease and operate a newly erected Octane gasoline service station. Trevino had been able to accumulate approximately $32,000 for investment purposes as a result of a $25,000 inheritance and savings on the salary of $865 per week he earned as manager of a service station operated as a separate department of a J.C. Penney store. Most of this $32,000 was held in government bonds. The regional sales manager for Octane was impressed with Trevino’s personal and financial qualifications, and after several interviews, a lease agreement was signed. During one of these meetings the sales manager informed Trevino that the new station would be ready for occupancy on May 1st at a total investment cost of $300,000. Of this amount, $100,000 had already been paid for land, and a total of $200,000 would be spent for a building that would be â€Å"good for about 40 years†. In discussing profit potential, the sales manager pointed out that Octane’s national advertising program and the consumer appeal generated by the attractive station â€Å"will be worth at least $30,000 a year to you in consumer goodwill.† The lease agreement stipulated that Trevino pay a rental of $1,250 per month for the station plus $0.04 for each gallon of gasoline delivered t the station by Octane1. A separate agreement was also signed whereby Octane agreed to sell and Trevino agreed to buy a certain minimum quantities of gasoline and other automotive products for the service station operation. As both evidence of good faith and as a prepayment on certain obligations that he would shortly incur to Octane, Trevino was required to deposit $20,000 with Octane at the time the lease was signed. Trevino raised the cash for this deposit by liquidating government bonds. Octane used most of this money to defray certain obligations incurred by Trevino to  the oil company prior to the opening of the new station. The deductions from the $20,000 deposits were applied as follow: 1 The lease, which covered a period of one year beginning May 1, was automatically renewable unless notice of cancellation was given by either party at lease 30 days prior to an anniversary date. The regional sales manager of the Octane Oil Company estimated that approximately 150,000 gallons of gasoline would be delivered to Trevino’s Service Station during the first 12 months of operations. Subsequently, Trevino’s records revealed that 27,000 gallons (including the initial inventory) were actually delivered during the first two months of operation. The equipment, including floor and hydraulic jacks, a battery charger, tune-up sets, and oil and grease guns, became Trevino’s property. A representative of the oil company stated that this equipment would last about five years. The unpaid, non-interest bearing balance of $10,300 Trevino owed Octane for equipment was to be paid in five semi-annual installments of $2,060 each. The first such payment was due November 1. The $2,755 remaining from the $20,000 originally deposited with Octane was returned to Trevino on April 30. He deposited this money in a special checking account he had set up for his service station venture. Just before opening for business on May 1, Trevino converted some additional government bonds into $7,000 cash which he also placed in the service station account. Prior to May 1, he wrote the following checks: $1,650 for office furniture that had an expected life of 10 years, and $900 for a fire and casualty insurance policy providing coverage for a one year period beginning May 1. On April 30, Trevino transferred $200 from the service station checking account to the cash drawer at the service station. It was Trevino’s intention to deposit in the bank all but $200 of the cash on hand at the close of each business day. The balance in the service station checking account at the start of business was, therefore, $7,005. In addition, Trevino had $2,700 in a savings account. On May 1, the service station was opened for business. In his effort to build up clientele, Trevino worked approximately 60 hours per week compared with 40 in his previous job. In addition, three other people were employed on either a full or part-time basis. Trevino was reasonably satisfied with the patronage he was able to build up during the first two months the station was open. At the end of June, however, he felt it would be desirable to take a more careful look at how he was making out in his new business venture. Trevino felt that he should record his progress and present position in a form that would be useful not only at the present time but also for comparative purposes in the future, perhaps a six months intervals ending on June 30 and December 31. Trevino maintained a simple record keeping system in which cash receipts and cash payments were itemized daily in a loose-leaf notebook. Separate pages were reserved for specific items in this notebook. During the months of May and June, the following cash receipts and payments had been recorded: The $500 listed in cash receipts as rental from parking area had been receive from an adjacent business establishment that used one portion of the service station site as a parking space for certain of its employees. The rental received covered a period extending from May 15 to July 15. In addition to the record of cash receipts and payments, a detailed listing was kept of the amounts of money that were due from, or owed to, other individuals or companies. An analysis of these records revealed that $143 was due the business for gas, oil, and car servicing from a wealthy  widow friend of the Trevino family who preferred to deal on a credit basis. Also, on the evening of June 30, one of the employees completed waxing a car for a regular customer who was out of town and would be unable to call for his car until July 3. Trevino had quoted a price of $56 for this job. Trevino recalled that when he once worked at an automobile agency, he had heard that setting up a reserve for bad debts equal to two percent of all outstanding accounts was a good idea. Trevino had also jotted down the fact that he and his family had used gas and oil from the service station worth $101 at retail prices, for which no payment had been made. Approximately $79 had been paid to Octane Oil Company for this merchandise. A further summary of his records revealed the following unpaid bills resulting from operations in June: The service station’s employees had last been paid on Saturday, June 28, for services rendered through Saturday evening. Wages earned on June 29 and 30 would amount to $232 in the following Saturday’s payroll. Trevino took a physical inventory on the evening of June 20, and he found gasoline, motor oil, grease, tires, batteries, and accessories on hand that had cost $10,018. While Trevino was figuring his inventory position, he compared his recorded gallonage sales of gasoline on hand at the end of  the period against the volume of gasoline at the beginning inventory plus deliveries. In this manner, Trevino ascertained that shrinkage due to evaporation, temperature changes, waste and other causes amounted to 302 gallons of gasoline that he estimated had cost $360. Late in June, Trevino’s married son realized that he would be unable, because of prolonged illness to make payment of $192 for interest expense and $800 for principal repayment on a $2,400 bank loan. Trevino, who had acted as co-signer on the note, would be obligated to meet this payment on July 1.

Reflection 10 Assignment Example | Topics and Well Written Essays - 250 words

Reflection 10 - Assignment Example is Wynne who argues that advanced language aptitude is something which is possessed by humans alone and the decisive factor which differentiates humans from apes. The kind of linguistic abilities exhibited by Kanzi are only the result of his imitations, so the very idea of ape language synonyms with parroting. Savage-Rumbaugh, on the other hand, defends her argument in favor of Kanzi and ape language by claiming that the linguistic achievements of her subject, Kanzi, are a living proof that apes can also learn a human language. This idea that language and many other unique cognitive abilities are uniquely possessed by humans is groundless and prejudiced. One important reason why Savage-Rumbaugh’s research on Kanzi cannot be equated to parroting is that Kanzi did not develop his linguistic capacities through rote learning or behaviorist methods. Rather, his learning began from a very young age when he was younger. This young age is a very critical period for learning language f or both ape and human babies. Like human babies, Kanzi’s responses also reflect same

Role of primary care physicians in obesity prevention and management Essay

Role of primary care physicians in obesity prevention and management in the U.S - Essay Example The principal research objective is to examine the gaps that exist in primary care particularly in managing obesity. Further, the research seeks to identify barriers that impede physicians from helping obese patients manage their weight. The research is, therefore, projected to pave way for better comprehension of healthcare delivery system from a weight and related ailments management perspective. Given the fact that scientific knowledge in regard to this healthcare service delivery system is not extensive, the proposed study will draw together extant information and present research based recommendations on how primary care physicians can contribute more to obesity management. Given primary care physicians’ direct connection to obese patients and their health information, they are best placed to aid in weight management and avoidance of obesity comorbidities, as long as, they effectively overcome prevailing impediments. Grant et al.’s study focuses on the roles entrus ted to bariatric physicians or medical practitioners who specialize in weight management. This study is instrumental to the research, since it provides insight into aspects in which primary physicians can be trained to make them proficient in obesity management. Sebiany’s research article provides important insight into the responsibilities expected of primary physicians in effective management of obesity, as well as, perceived obstacles to this efficacy. The journal article will be invaluable in development of the principal argument of the paper.

Discussion Board 3-2 Research Paper Example | Topics and Well Written Essays - 250 words

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How Managers Can Apply Their Interpersonal, Informational and Essay

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Child trama 5 Annotated Bibliography Example | Topics and Well Written Essays - 500 words

Child trama 5 - Annotated Bibliography Example However, the article cites that the extents to which risky sexual behavior in women are affiliated with exposure to unfavorable experiences in childhood is not well understood (S.D. Hillis 206) This article highlights that these harmful consequences of participation in risky sexual behaviors are disproportionately higher in women than men, which might be influenced by several factors like biological factors. The study claims that biologically women are more susceptible to sexually transmitted infections and likeliness of asymptomatic infections that remains undetected for long. Therefore, they are at higher risk of complications than men (S.D. Hillis 206). The article study outlines outcomes affiliated with risky sexual behavior in women that includes sexual transmission of more than 25 infectious organisms, vaginal cancer, cervical cancer, abortion, infertility, still birth , violence related trauma, death etcetera. In addition, the study outlines that the women engaging in risky sexual behavior risk their unborn suffering such effects as low birth weight, prematurity, pneumonia, neural damage, ocular infections or even death (S.D. Hillis 206). This article further evaluates a study research carried out to determine adverse childhood experiences on about 5,060 female members of a managed care organization. The research revealed information of seven categories of harmful childhood experiences the women underwent namely emotional, physical, or sexual abuse; or even having a battered mother, substance abusing, mentally ill or criminal household members. They concluded that cumulative harmful childhood experiences and such risky behavior as an early onset of intercourse, or even having more sexual partner’s poses a greater risk of Aids infection (S.D. Hillis 206). The article further highlights that women exposed to multiple types of harmful childhood experiences have 50% increase likelihood

A Crash Course on Racism and Contemporary Society Essay Example for Free

A Crash Course on Racism and Contemporary Society Essay When you see the word crash, it always summons to mind an unfortunate event that has to deal with vehicles. Someone even told me that it is prohibited to say this word when you are boarded on an airplane because you might cause panic among another passengers. Planes, cars and even computers crash. Crash basically means collision. Similarly, the title of Paul Haggis recent movie is Crash (2005). However, viewers will see not only collisions involving cars, but collisions involving race, culture and classes. The movie †Crash† tackles the cross-cultural panorama of Los Angeles urban life, involving people interconnected to each other in vestiges of crime, racism, corruption, obligation, indignation and chance over a two-day period. The storyline superimposes the complexity of the multifaceted narratives of their lives entwined under the numerous social and psychological issues usually hidden inside the closet of the American consciousness. The Plot: Crash or Clash The story revolves around two cops, one senior and the other junior. The other jaded and abusive, the other one is a novice and willing to learn the ropes. These cops are played by Matt Dillon and Ryan Philippe respectively. One day, when they were assigned in their beat site, they pull over and eventually harass a black couple (Terrence Howard and Thandie Newton) because the SUV theyre driving vaguely fits the description of a carjacked vehicle that was reported. More complications swiftly supersede within 24 hours, these characters all cross paths again in separate incidents of incredibly high tension that challenge both the prejudices that have formed between them and the assumptions we draw out from their different perspectives about race and culture as a whole. It turned out that Christine (Thandie Newton) was surprised that she encounters Sgt. Ryan (Matt Dillon), the racist cop who sexually molested her during a traffic stop the previous night, the officer on the scene who pulls her from the burning car. To further intricately muddle the conflicts, characters encounter and reencounter one another in highly convenient ways. For example, a young African-American criminal Peter (Lanrez Tate) is murdered. Fortunately, he has a brother, Graham (Don Cheadle), an LAPD detective, who discovers Peters dead body in the desert. Prior to learning of his brothers death, Graham is thwarted by the district attorney’s office into suppressing evidence that may partially absolve a white police officer charged with killing a black cop. Incidentally, the district attorney (Brendan Fraser) is looking for a conviction that would help him gather enough support from the black community, since he is trying to manage a potential media scandal. He and his wife (Sandra Bullock) were carjacked in Sherman Oaks by two young black men. Moreover, more table-turning events are revealed in the lives of the characters because actual carjackers is Peter and his friend (Larenz Tate and rapper Ludacris). Surprisingly, the carjackers and their victims – these four are, in turn, connected through other events to a young Hispanic locksmith (Michael Pena) desperately trying to make a better life for his 5-year-old daughter after moving out of a crime-ridden neighborhood, and to a struggling Iranian shopkeeper (Shaun Toub) desperately seeking to lay blame for the vandalization of his convenience store, and to a pair of internal affairs detectives (Don Cheadle and Jennifer Esposito), whose lives and jobs are complicated by politics, tested principles and personal secrets. As film involves various crashes and clashes, forcefully it does not just invoke commonly hackneyed racially charged confrontations found in some films, but it almost subliminally showcases how passive prejudice and pre-conceived notions are often prevalent in simple day-to-day life. Thus, people could just collide and all these complications happen within a blink of an eye, unaware that they are villains and victims all at the same time of the milieu they are placed in. Although the dominant illusion that Crash could perpetuate among its viewers about its own narrative is that each character does something virtuous in one situation, and something unconscionably racist in another. Entirely, this is not the case because some characters could be deemed as purely good people. The Latino locksmith Daniel exists solely to incur racist threats and insults from other characters, then to belie their opinions through his role as the most upstanding of family men. Unfortunately, other characters display no redeeming traits, like the DA’s wife, Jean Cabot (Bullock) is depicted as a self-involved rich and uptight woman who is there to speak the unspeakable truth when justifying her fear of black men. Eventually, she stops just short of calling Daniel a wetback, and undergoes a quite insincere transformation that resulted from her inability to understand that her housekeeper Maria (Yomi Perry) is nice to her when she fell down some steps and fractured her leg, and nobody else has given her sympathy. She had no choice, but be nice to the person who helped her (Sicinski, 2005). Craig Detweiler (December, 2005) analyzed that Haggis portrays the film as a depiction a fine interconnectedness of realistic portrait of pertinent issues with a subliminal touch of magic realism. The movie offers a range of familiar types, attempting to prick his viewers consciences without being overbearingly preachy or nearly jingoistic. As the film kicks off, tempers are already surging as invectives and epithets are blurted out without batting an eyelash. Prejudices are looking for confirmation. I am angiy all the time, and I dont know why, laments a frustrated housewife. The first half of the film whips up the melting pot of complications, with racist assumptions spilling out of the characters ears. Viewers relish a platter of racism and crime, seasoned with sexual harassment, a broken health-care system and the purchase of firearms. In the softer second half, Detweiler explains that the isolated moments suggest a possibility of redemption for the characters. A motorist hassled by the cops for driving while black turns out to be a conflict-avoiding Buddhist for Christs sake. But that doesnt dissuade the police from violating his humanity and that of his wife. A statue of St. Christopher shows up at surprising times, but it ultimately proves ineffectual. A protective icon inspires a random act of violence. As Christmas unfolds in the movie, we see images of the nativity that could only summon unrealized prayers for peace on earth (Detweiler, 2005). Circumscribing the â€Å"circle† that goes around the film’s plot, a realization could smack its viewers that in the small world we are living in, we are connected to each other, like it or not. Conclusion Racism is a topic well-tackled among discussions. We are aware that it is generally loathed by people and we heard calls of putting a stop to it. We have seen the fall of Apartheid, we have seen those protests voicing out equality, but people still commit racism unconsciously as they encounter each other in their daily lives. Is prejudice primarily a question of color? How do differences of language and culture play into our misunderstandings? What must be done to bridge understanding and permanently inculcate the ugly face of prejudice regarding our differences? The film Crash does not present the ultimate panacea to racism and prejudice. But certainly, it is a mirror of what American society has become. It is presenting a consciousness about the interconnectedness of people and the situations that made them come up with their own realizations. Thus, the film invites its viewers to come up with their own realizations about the contemporary cross-section of American society and provide a space about perspectives on how to deal with their own prejudices. Works Cited Detweiler, Craig. Cultural Collisions. Sojourners Magazine. Washington, (December 2005), 34 (11): 45-46. Sicinski, Michael. Crash, Film Review. Cineaste. New York, (Fall 2005), 30 (4): 51-54.