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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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The cellular phone division of Stegall Company had budgeted sales of $950,000 and actual sales of $900,000. Budgeted expenses we
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Answer:

Since the actual expenses is lower than the budgeted expenses, and the variance is positive, a report prepared for the manager of this profit center would show a favorable variance.

Explanation:

Revenue variance is the difference between the actual sales volume and the budgeted sales volume.

Revenue variance = Actual sales - Budgeted sales

Budgeted sales = $950000

Actual sales = $900000

Revenue variance = $900000 - $950000

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Since the actual sales is lower than the budgeted sales, and the variance is negative, so the variance is unfavorable.  

Cost variance is the difference between the budgeted expenses and the actual expenses.

Cost variance = Budgeted expenses - Actual expenses

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Since the actual expenses is lower than the budgeted expenses, and the variance is positive, so the variance is favorable.

Therefore, Since the actual expenses is lower than the budgeted expenses, and the variance is positive, a report prepared for the manager of this profit center would show a favorable variance.

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3 years ago
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Answer:

Answer:

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