Answer:
Harry is a proper holder of the instrument
Explanation:
Impostor rule is the legal principle which states that an imposter endorsement of a negotiable instrument is not a forgery. The loss falls on the drawer of cheque and not on the third party or the bank that clears it. Art and Harry acted in good faith for the consideration. Hence, Harry is a proper holder of the instrument as any person in its possession is its holder.
Answer:
$660,000
Explanation:
The computation of the equity investment is shown below:
= (Common stock balance) + (Earnings × purchased shares ÷ Total outstanding shares) - (dividend × purchased shares ÷ Total outstanding shares)
= ($600,000) + ($400,000 × 200 shares ÷ 1,000 shares) - ($1,00,000 × 200 shares ÷ 1,000 shares)
= $600,000 + $8,0000 - $20,000
=$660,000
Answer:
$41.74
Explanation:
For computing the price, first , we need to calculate the current price which is shown below:
= Last dividend × ( 1 + growth rate) ÷ (Required rate of return - growth rate)
= $3.45 × ( 1 + 0.045) ÷ (14.8% - 4.5%)
= $3.60525 ÷ 10.3%
= $35
Now the price would be
= Current price × ( 1 + growth rate) ^ years
= $35 × ( 1 + 0.045) ^ 4 years
= $35 × 1.1925
= $41.74
Answer:
Enforceable
Explanation:
Statute of frauds are legal requirements that a contract must have before it is considered to be enforceable.
Normally written contracts are required for transactions that are above $500, for sale of land, and transctions that last one year or longer.
The contract amount in the given scenario is (1000 pencils * $0.25) = $250
This amount falls below what is required for a written agreement. So an oral agreement can suffice in this case.
The contract is enforceable
Answer: The sum of cash, short-term investments and net receivables divided by current liabilities
Explanation: The acid test ratio, also known as the quick ratio, is a liquidity ratio that is used to determine the ability of a company to pay its current liabilities if it rises immediately. It is considered to be more stringent ratio than the current ratio.
It is concluded by dividing those current assets that can be converted into cash immediately with the current liabilities of the company.
Therefore, from the above we can conclude that the correct statement is D.
