Answer:
The balance in the Bharrat Corporation's Long-Term Investment-Ferris account at December 31 should be $100,000
Explanation:
The Purchase of 40% of Ferris Corporation for $100,000 is a Financial Asset. A financial asset is a contractual obligation to receive cash.
Bharrat Corporation is expected to receive cash from the investment is has made in Ferris Corporation.
The investment is measured at Cost of $100,000 in the Financial Statements. Declaration of dividend does not affect measurement of the Investment.
Answer:
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Answer:
Under the UCC 1-201(37) Mallon has a security enthusiasm for the generator it provided to Redford as a security under UCC 9-102(4(72)). The generator is insurance under UCC 9-102(a) (12) thus, long as Mallon documents has recorded its consummated security intrigue first under UCC 9-322(a) (1), it will have need in taking the guarantee from Garfield.
If Mallon's and Redford's liens were both idealized, at that point the first to record or claim the security has need under UCC 9-322(a)(1). Under UCC 9-322(a)(3), the first of un-perfected security interests to append has need.
A special case that Mallon should know about is under UCC 9-320(a), where in a purchaser (Garfield) of products in the customary course of the dealer's (Redford) business, the purchaser beats a secure about gathering's (Mallon) intrigue, regardless of whether idealized and regardless of whether the purchaser is aware of the security intrigue.