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vitfil [10]
2 years ago
13

Stale Check Charles Ragusa & Son ( Ragusa), a partnership consisting of Charles and Michael Ragusa, issued a check in the am

ount of $ 5,000, payable to Southern Masonry, Inc. ( Southern). The check was drawn on Community State Bank ( Bank). Several days later, Southern informed Ragusa that the check had been lost. Ragusa issued a replacement check for the same amount and sent it to Southern, and that check was cashed. At the same time, Ragusa gave a verbal stop- payment order to Bank regarding the original check. Three years later, the original check was deposited by Southern into its account at the Bank of New Orleans. When the check was presented to Bank, it paid it and charged $ 5,000 against Ragusa’s account. The partnership was not made aware of this transaction until one month later, when it received its monthly bank statement. Ragusa demanded that Bank recredit its account $ 5,000. When Bank refused to do so, Ragusa sued. Who wins? Charles Ragusa & Son v. Community State Bank, 360 So. 2d 231, Web 1978 La. App. Lexis 3435 ( Court of Appeal of Louisiana)

Business
1 answer:
charle [14.2K]2 years ago
4 0

Answer:

answer is been attached below

Explanation:

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Assume that January sales for the fourth year turn out to be $295,000. What was your forecast error the models in parts 2, 3, an
Anastasy [175]

Answer:

4th year difference in forecast $120,000

Explanation:

The forecast is prediction of future cashflows of a business. The forecasts are rarely accurate as there are many uncontrollable factors such as demand, seasonal effect and government influence which are results of the deviation from the forecast cashflow. In the given scenario the management forecast that the January sales will be $295,000 but the actual sales are $120,000 only. The main reason for such big difference is government taxes that are imposed on seafood. The prices are increased therefore consumers have reduced their seafood consumption.

6 0
3 years ago
Which best describes the benefits of renting a home?
Marina86 [1]
The best answer for this is D. None of the above. Renting has a lot of benefits especially for people whose job requires to travel or job that needs to be relocated most of the time. Renting can be more flexible than owning a home in a specific place or location. Renting is also cheaper than owning a home/house since the payment is lower than house payment.
7 0
2 years ago
Read 2 more answers
Evans Inc. had current liabilities at April 30 of $74,100. The firm's current ratio at that date was 1.7.Required:Calculate the
bazaltina [42]

Answer:

* The firm's current assets and working capital at April 30:

+ Current asset $125,970

+ Working capital: $51,870

* The current ratio and working capital at April 30 as if the April 29 payment had not been made:

+ Current ratio: 1.57

+ Working Capital: $51,870

Explanation:

* The firm's current assets and working capital at April 30:

We have Current asset/ Current Liabilities = Current ratio <=> Current asset = Current liabilities x current ratio = 74,100 x 1.7 = $125,970.

Working capital = Current asset - Current Liabilities = 125,970 - 74,100 = $51,870.

* The current ratio and working capital at April 30 as if the April 29 payment had not been made:

- Current asset will be 125,970 + 17,200 = $143,170; Current Liabilities will be 74,100 + 17,200 = $91,300 ( as cash has not be deducted for account payable settlement, as a result, account payable is still maintained balance of 17,200 higher than the scenario where the payable had been settled).

=> Current ratio = 143,170/91,300 = 1.57; Working Capital = 143,170 - 91,300 = $51,870.

8 0
2 years ago
Read 2 more answers
A public works department in a metropolitan area is looking into buying a major equipment to enhance productivity. The initial c
NARA [144]

Answer:

B. The payback is approximately three years

Explanation:

The computation of payback period for this equipment purchase is shown below:-

<u>Year              Cash flow          Cumulative cash flow</u>

0                   -$600,000             -$600,000

1                     $250,000              -$350,000

2                    $200,000              -$150,000

                 ($250,000 - $50,000)

3                    $150,000                  0

                 ($200,000 - $50,000)

4                    $100,000                $100,000

                  ($150,000 - $50,000)

5                    $50,000                  $150,000

         ($100,000 - $50,000)

Here, Cumulative cash flow in the year o is -$600,000 and as we can see that cumulative cash flow in year 3 is 0.

Therefore the payback period lies in 3 years.

7 0
2 years ago
Ray Jene earns $900 a week at a Publix supermarket. Ray's payroll deductions are 28%. What is Ray's take-home pay?
kaheart [24]
If Ray earns $900 a week and deductions are 28% Ray's take home pay is:
$648 a week

If we assume that the deductions of 28% are taken out of the $900 weekly we will multiply 900 by 0.28 = 252. Then subtract 252 which is the deduction amount from the 900 and we end up with take home pay of $648.
7 0
3 years ago
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