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Nina [5.8K]
3 years ago
10

Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, wh

o then indorses it to Nat, the present holder. Suppose that Mona pays Nat on the note. With timely notice to the proper parties, Mona may collect payment on the note from:
Business
1 answer:
STatiana [176]3 years ago
7 0

Answer:

a. Jake, Kim, or Lou.

Explanation:

A promissory note is a note that should be signed with written promise in terms of paying some specific amount to the note owner on a specifiic date or on demand.

Since in the question it is mentioned that Jake who is a maker and pay to Kim and then it would endorse to Lou

So here the Mona should collect the payment from the above three parties

hence, the correct option is A.

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2) A firm sells two products. Product R sells for $20; its variable cost is $6. Product S sells for $50; its variable cost is $3
Tom [10]

Answer:

$6896551.7

Explanation:

Given the following :

Product R:

Selling price = $20

Variable cost = $6

Product S:

Selling price = $50

Variable cost = $30

Firm's fixed cost = $4, 000,000

Break-even point dollars = (Fixed cost /Contribution margin ratio)

Contribution margin : selling price - variable cost

Product R: $(20 - 6) = $14

Contribution margin ratio = ($14/$20) * 60% = 0.42

Product S: $(50 - 30) = $20

Contribution margin ratio = ($20/$50) * 40% = 0.16

Sum of contribution margin ratio for both products = (0.42 + 0.16) = 0.58

Break-even point dollars = (Fixed cost /sum of Contribution margin ratio)

= $4,000,000/0.58

= $6896551.7

3 0
3 years ago
EB12.
mote1985 [20]

Answer:

The cost assigned to Job 7 at the end of the week is 5,700 dollars.

Explanation:

In job order costing the cost that is to be assign to a specific order is sum of actual direct material cost and actual labour cost require to perform that job. Factory overheads are also added to the job cost on the basis of allocation method (on basis of budgeted applied OH rate).

So Following costs will be assign to Job 7.

RAW materail = $ 700

Labor Cost     = $ 3000

Overhead      = $ 2000 (10* 20)

Total Cost    = $ 5700

4 0
3 years ago
Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,
Vaselesa [24]

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

           = $78,000 - $42,000

           = $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

                                       = $36,000 + $15,500 - $5,000

                                       = $46,500

6 0
3 years ago
Is a term used to describe when an officer actively demands payment from an individual or a business in return for certain servi
Elena-2011 [213]
The answer is a payoff or A.

8 0
3 years ago
Which is NOT a major expense category?
bija089 [108]

Answer:

D

Explanation:

Food. Because you can get a Burger for a dollar..

8 0
4 years ago
Read 2 more answers
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