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Thornton fraudulently represented to Daye that he would obtain for her a new car to be used in Daye's business for $17,800 from Pennek Motor Company. Daye thereupon executed her personal check for $17,800 payable to the order of Pennek Motor Company and delivered the check to Thornton, who immediately delivered it to the motor company in payment of his own prior indebtedness. The motor company had no knowledge of the representations made by Thornton to Daye. Pennek Motor Company now brings an action on the check that was not paid against Daye, who defends on the ground of failure of consideration. Is Pennek subject to this defense? Explain.
redback networks inc. a subsidiary of ericsson provides networking services and related systems for 75 of the worlds
At December 31, 2012, Vermont Industries reported three temporary differences between accounting and taxable income:
Access Piaggio's Website (www.piaggiogroup.com) and select Governance and then select Company boards. Read the section dealing with the role of its board of directors.
If offered alone, at this time, the bonds would have been issued at a 22% discount. Prepare the journal entry for the issuance of the bonds and warrants for the cash considered received.
Which of the following is related to the qualitative characteristics that make financial information useful?
At March 31, Bandstra Co. had a book balance in its cash account of $5,500. At the end of March the company determined that it had outstanding checks of $900, deposits in transit of $600, a bank service charge of $20, and an NSF check from a customer..
at december 31 2012 mnc still has the same three products in its inventory. updated information for each product
calculate the change that occurred in cash during the month. you may assume that the change in each balance sheet
benet company has budgeted the following unit
Carter Corporation had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000 to preferred stockholders in 2008.
Julio and Milania received distributions
The Piedmont School of Music has hired you as a consultant to help in analyzing the behavior of the school's costs.
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