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SIMS and PARTNER opened a business and their checking account included both names. BIG COMPANY, a client of the business issued a check in the amount of $150,000 for future services and made it payable to SIMS, PARTNER, with the names stacked one on top of the other. SIMS endorsed the check and cashed it at their bank. Scoundrel that she was, SIMS absconded with the money, probably to a warm, Caribbean country. What recourse, if any does PARTNER have against the bank. Make sure you review the material for multiple payees and the corresponding code sections before you answer. Include references to code sections in your answer.
BUSINESS LAW AND UCC
Evaluate and summarize the differences between International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles
What is the new breakeven point if the variable cost increases to $25 per customer per month? c. If 20,000 subscribers will drop their service because of the monthly fee increase in Part (b), will the company still be profitable?
accounting treatment for errors and corrections.effects of errors show how the following independent errors will affect
Jack acquires a new seven-year class asset on September 20, 2013, for $80,000. He placed the asset in service on October 5, 2013. He does not elect to expense any of the asset under SS179 or elect straight-line, cost recovery. He takes additional fir..
Do the same computation as in a assuming net income for the year is only $3 million, the average market value per common share is $18, and year end price $20 per share.
Do your answers above depend on the time frame? In other words, do some parties stand to gain initially but lose in the long run? If so, explain how.
Discuss how the budgeting process as employed by Springfield Corporation contributes to failure to achieve the president's sales and profit targets.
Write paragraphs about the capital budget items needed for a startup organization - company and how much time do you think is needed in order to pay off the investment (capital) and gain a return.
Compare copper and aluminum as the materials for ordinary utility conductors to be used in construction and all types of machinery. Use the cost data for metals from today's wall street journal, where the price of copper is given in $/lb and the pric..
Paul Scott has a 2008 Cadillac that he wants to update with a GPS system so that he will have access to up-to-date road maps and directions. Aftermarket equipment can be fitted for a flat fee of $500, and the service provider requires monthly charges..
Prepare the asset section of the balance sheet for Hasbro, Inc., classifying the assets into Current Assets, property, plant, and Equipment (net), other Assets and determine the appropriate amounts to complete the schedule.
Difference between financial accounting and managerial accounting.
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