River writes a check for $200 payable to "Cash". He puts the check into his pocket...

River writes a check for $200 payable to "Cash". He puts the check into his pocket and drives to his bank (Wells Fargo) to cash the check. As he gets out of the car in the bank's parking lot, the check slips out and falls to the pavement. Jessie walks by moments later, picks up the check, and later that day delivers it to Ainsley, to whom he owes $200. Ainsley indorses the check "For deposit only" [Signed Ainsley Smith], with her checking account number and deposits it into her checking account.

Answer the following questions:

Is the check an order or bearer instrument?
How does the negotiation of an order instrument differ from the negotiation of a bearer instrument? Explain.
What type of indorsement did Ainsley make?
From this scenario, identify these parties: Who is the drawer, who is the drawee and who is the payee?

Expert Solution

D) drawer - River

drawee - Wells Fargo

Payee - Anisley smith

ekkarill92 answered 10 months ago

Mickey puts an ad Craiglist stating that he wants to sell his truck for $500. Donald...

Mickey puts an ad Craiglist stating that he wants to sell his truck for $500. Donald goes to Mickey’s home and tells him that he is interested in buying the truck. After looking at it, Donald hands Mickey $500 in cash, which Mickey proceeds to put in his pocket. As Donald is about to leave, Goofy drives up and tells Mickey that he’ll give him $600 for the truck. Mickey hands Donald back his $500 and sells the truck to...

Gonsalo runs a business doing car repairs, writes up his taxes on the cash basis, and...

Gonsalo runs a business doing car repairs, writes up his taxes on the cash basis, and on the calendar year. Gonsalo paid $ 27,000 to his landlord on 12-1-2018 for a required advance rent payment on an 18 month lease covering the months 12-1-2018 through 5-31-2020. Gonsalo paid $ 12,000 on 7-1-2018 for a one year insurance policy covering the months of 7-1-2018 through 6-30-2019. A payment of $ 16,000 was made on 7-1-2019 for a one year policy covering...

Oliver likes to go fishing in the river by his house. One day he noticed that...

Oliver likes to go fishing in the river by his house. One day he noticed that there was a white substance on some rocks at the bottom of the river. When he looked closely, it appeared as though someone had sprinkled a powder or crystals in the water. Moreover, the substance was found mainly where a small creek joined the larger river. Curious, Oliver followed the creek through the forest toward an industrial area. Eventually, he reached a fence and...

Asset Liabilities and owners equity Cash 600 Accounts Payable 700 Inventory 80 Notes Payable 200 Accounts...

Asset Liabilities and owners equity Cash 600 Accounts Payable 700 Inventory 80 Notes Payable 200 Accounts Receivable 400 Current Maturing LTD 40 Fixed assets 1500 Stock 1300 Accumulated Depreciation (90) Retained Earnings 250 Total 2490 Total 2490 Use the following balance sheet for Delta Company to answer the following 3 questions. 1.Which of the following statements is accurate in regards to Delta's financial position? Delta's NWC suggests that solvency is a concern. Delta's NWC suggests that the firm has a...

The accountant for a company wants you to check over his work as he has never...

The accountant for a company wants you to check over his work as he has never compiled a multi-step income statement before. He provides you with the following partial income statement beginning with operating expenses (NOT income from continuing operations): Net Sales $4,500,000 Operating Expenses (1,500,000) Operating Income $3,000,000 Depreciation Expense (20,000) Extraordinary loss from tornado, unusual and infrequent (750,000) Cost of Goods sold (170,000) Gain on Translation of foreign currency ...

VITALSTATISTIX, INC. 2017 Balance Sheet Items Assets Liabilities and Owners’ Equity Cash $200 Accounts Payable $200 ...

VITALSTATISTIX, INC. 2017 Balance Sheet Items Assets Liabilities and Owners’ Equity Cash $200 Accounts Payable $200 Accounts Receivable 400 Notes Payable 100 Inventory 650 Long-Term Debt 1,050 Net Plant and Equipment 2,400 Common Stock 500 Paid-in Surplus 1,500 Retained Earnings 300 VITALSTATISTIX, INC. 2017 Income Statement Sales $2,700 Cost of Goods Sold 800 Depreciation 100 Earnings Before Interest and Taxes $1,800 Interest Paid 150 Taxable Income $1,650 Taxes 550 Net Income $1,100 13. Vitalstatistix, Inc. has 500 shares of common...

Please respond to the following discussion. A manager at a “Check Into Cash” business defends his...

Please respond to the following discussion. A manager at a “Check Into Cash” business defends his business practice as simply “charging what the market will bear.” “After all,” says the manager, “we don’t force people to come in the door.”< span style="mso-spacerun: yes"> How would you respond to this ethical defense of the payday-advance business?

A man drew a plan of saving for his vacation in Canada. He saves $200 at...

A man drew a plan of saving for his vacation in Canada. He saves $200 at the end of each month for three years. If the cost of vacation is going to be ($9,384.44), and the interest rate is 11% compounded annually, would the man have enough to cover his vacation at the end of the third year? a). What must his annuity (A) be in order to make it to his vacation if the interest rate is 15% compounded semiannually. b.)...

Question Workspace Check My Work Steven was often bullied in his school. He was shy and...

Question Workspace Check My Work Steven was often bullied in his school. He was shy and somewhat reclusive, and sometimes the object of peer comment and jokes. Jason, a senior and also the biggest of the school bullies, was also in Steven’s classes. After long periods of this happening, Steven developed a grave dislike for Jason. Jason, as one of his projects for computer science class, developed his own personal Web site, and started promoting it to showcase his Web...

Spencer Grant is a New York-based investor. He has been closely following his investment in 200...

Spencer Grant is a New York-based investor. He has been closely following his investment in 200 shares of Vaniteux, a French firm that went public in February 2010. When he purchased his 200 shares at 16.68 euro per share, the euro was trading at $1.3654/euro. Currently, the share is trading at 28.37 euro per share, and the dollar has fallen to $1.4016/euro. Spencer considers selling his shares at this time but he chooses not to sell them after all. He waits,...

Question