Sue is an employee at an ABC store. One of Sue's duties is to prepare the bank deposit at the end of the business day. Sue had a very busy day and made a few mistakes. All of the checks, except two, were indorsed with the stamp "ABC, Inc" that ABC had
provided. The bank received the deposit and noticed the lack of indorsement on the two checks. In addition, three of the checks that Sue was to include with the deposit were lost in the parking lot after closing. Phil found the checks and deposited them into his personal account. What is the effect of ABC's indorsement on the lost checks and the lack of indorsement on the two deposited checks?
A bank may provide an indorsement for its customer absent any specific prohibition on the instrument. The checks that Sue failed to stamp will be processed without any difficulty. The stamp that Sue used, with a blank indorsement, created a bearer instrument. The stamp should be changed to create a restrictive indorsement to afford greater protection. When a bearer instrument is lost, the finder (Phil), as the possessor of bearer paper, is the holder and is entitled to enforce payment. Some alternate cause of action based on another area of law would be Sue's only hope for recovery of the lost checks.?
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Rubendall Corporation's total current assets are $310,000, its noncurrent assets are $630,000, its total current liabilities are $250,000, its long-term liabilities are $300,000, and its stockholders' equity is $390,000.Required:Compute the company's current ratio. Show your work!
What will be an ideal response?
Benjamin Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Container RefurbishedRevenue $5,400Employee salaries and wages$58,300 $1,000Refurbishing materials $700Other expenses$31,200 ?When the company prepared its planning budget at the beginning of March, it assumed that 26 containers would have been refurbished. However, 23 containers were actually refurbished during March.?The amount shown for net operating income in the planning budget for March would have been closest to:
A. ($700) B. $6,700 C. ($4,400) D. ($791)
In discussions with the packaging design team, you note that they do not have a firm design objective for the final package
In an internal memo to your boss, outline the objectives (both company and consumer orientated) that you wish to see implemented by the design team.
A machine costs $25,000; it is expected to generate annual cash revenues of $8,000 and annual cash expenses of $2,000 for five years. The required rate of return is 12%. FV of 1 (i = 12%, n = 5):1.762FV of a series of $1 cash flows (i = 12%, n = 5):6.353PV of $1 (i = 12%; n = 5):0.567PV of a series of $1 cash flows (i = 12%, n = 5):3.605The net present value of the machine is:
A. $28,840. B. $21,630. C. $(3,840). D. $(3,370). E. $0.