Was the check validly negotiated

Assignment Help Accounting Basics
Reference no: EM133172387

Question - M issued a check for P1,000.00 to P. P went to McJolibi and ordered McChikenjoy. At the counter, P realized that he left his wallet at the car and all he had with him was the check. P asked the manager if he could get his wallet at the car so he could pay. The manager said yes but asked P to leave the check to make sure that he would come back right away. P gave the check to the manager.

Required -

a. Was the check validly negotiated? Explain.

b. Is the manager of McJolibi an indorsee? Explain.

Reference no: EM133172387

Questions Cloud

Web server issues : Your web servers are experiencing issues with high CPU workload and abnormal spikes in memory because of unpredictable workloads.
Dealing with systems analysis : You will type on the a topic dealing with Systems Analysis.
What is the incremental value of acquisition to Dumb Jack : Dumb Jack has a market value of $6 million and its shares are trading at $40 per share. What is the incremental value of acquisition to Dumb Jack
Differences between ui and uxo design : Define and discuss the differences between UI and UXO Design. (User Interface and User Experience) App security considerations
Was the check validly negotiated : M issued a check for P1,000.00 to P. P went to McJolibi and ordered McChikenjoy. Was the check validly negotiated? Explain
The concept of internet telephony : The concept of internet telephony, as well as providing an analysis and comparison of several telephony technologies currently available.
How businesses have integrated big data analytics : We have discussed how businesses have integrated Big Data Analytics with their Business Intelligence to gain dominance within their respective industry.
Calculate each year gross profit percentage : Family Home & Security Incorporated sells padlocks. It reported an increase in net sales from $4.2 billion in 2017. Calculate each year gross profit percentage
Network admin : Indicate why each method will enhance a user's abilities over the current training method.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining beginning cash balance

In 2006 Bombay Corporation had cash receipts of $14,000 and cash disbursements of $8,000. Their ending cash balance at December 31, 2006 was $22,000. What was their beginning cash balance?

  What was the amount of dividends payable

On December 15, Boone declared dividends of $100,000. What was the amount of dividends payable to Boone's common stockholders

  What the entry made by griswold brick company on january

Brick Company signs an $80,000, 9-month, 5% note. The entry made by Griswold Brick Company on January 1 to record the proceeds and issue of the note is

  How much is the correct cost of the trademark

Present and future value factors are as follows: Present value of 1 at 14% for 4 periods 0.59; How much is the correct cost of the trademark

  Explain why mattel reported negative net cash flows

Explain why Mattel reported negative net cash flows from operating activities during the first two quarters, a small positive net cash flow in the third quarter

  Compute present value of the bids

Compute present value of the bids. You may assume that the cost of capital is 9%, that the annual maintenance expenditures are incurred at the end

  Assume that at january 1 2014 the carrying amount of the

assume that at january 1 2014 the carrying amount of the patent on celine dions books is 43200. in january celine dion

  What are some of the challenges faced by internal auditors

What are some of the challenges faced by internal auditors in assisting organizations in responding to risks resulting from the emerging issue

  Discuss the motives of the executives to commit fraud

Discuss the motives of the executives to commit fraud. Discuss the culpability of the accountants in preparing the questionable accounting estimates for the cost to compete.

  What amount of gain should Keith report as component

Fair value of real estate transferred - P1,200,000. What amount of gain should Keith report as component of its income from continuing operations

  Dennis is currently considering investing in municpal bonds

dennis is currently considering investing in municpal bonds that earn 8.80 percent interest or in a taxable bonds

  Discuss mc terry purchased an ice-cream machine

MC Terry purchased an ice-cream machine for $15,000; the seller is holding the note. Terry paid $1,500 for the required wiring

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd