with managers whose projects fail to meet ROI targets. Can you think of a way to prevent 3M’s product failures and keep generating profitable products? What would such a strategy look like? (3) Many of 3M’s products seem trivial (such as Post-it Notes)‚ and accidental. Has 3M just been lucky in the past? Would it be able to improve its performance if instead it targeted particular markets and products‚ and directed its engineers to develop products specifically that would sell? What would such
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Comprehensive Problem 1 c) Notes to the Financial Statements: 1. The company uses the straight-line depreciation method. The rental equipment is estimated to have a useful life of eight years. Thus‚ the monthly depreciation of the rental equipment is 240‚000/96‚ or $2‚500 per month. 2. The note payable to Rent-It is good for one year. $100‚000 and the accumulated interest are due on November 30‚ 2012. The account payable for office supplies is due in thirty days‚ or January 2‚ 2012. The account
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LAPULAPU FOUNDATION‚ INC. and ELIAS Q. TAN Respondents: COURT OF APPEALS (Seventeenth Division) and ALLIED BANKING CORP. Ponente: CALLEJO‚ SR.‚ J FACTS: In 1977‚ four loans from Allied Banking Corporation which is enclosed by four promissory notes amounting P100‚ 000 each was acquired by Elias Q. Tan‚ then President of Lapu-lapu Foundation‚ Inc. The bank was inhibited to file with the Regional Trial Court of Cebu City‚ Branch 15‚ a protest in looking for payment by Tan and the foundation‚ jointly
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balances of P6‚000. During your examination‚ you noted that on December 31‚ the company assigned P300‚000 of customers’ accounts to secure a 17%‚ P240‚000 note payable. A 1% commission based on the accounts assigned was charged and deducted from the cash received. The client recorded this transaction by a debit to cash and a credit to notes payable. Questions 1. How much is the Accounts Receivable (gross) balance at December 31? a. P 759‚000 b. P 789‚000 c. P 1‚101‚000 d. P 1‚131‚000
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Negotiable Instruments Act‚ 1881 From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search The Negotiable Instruments Act‚ 1881 | An Act to define and Law relating to negotiable instruments which are Promissory Notes‚ Bills of Exchange and cheques | Citation | Act No. 26 of 1881 | Enacted by | Imperial Legislative Council (India) | Date enacted | 9 December 1881 | Date commenced | 1 March 1882 | Negotiable Instruments Act‚ 1881 was passed by British India and for over 130
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BPI v. DE COSTER 47 PHIL 594 FACTS: On Dec. 29‚ 1921‚ Gabriela Andrea de Coster y Roxas and her husband acting as her agent‚ made to the BPI a certain promissory note for P292‚000‚payable one year after date‚ with interest of 9 per cent per annum and payable monthly. In order to secure the payment thereof‚ Jean M.Poizat and J. M. Poizat and Co. executed a chattel mortgage in favor of the plaintiff on the steamers Roger Poizat and Gabrielle Poizat including the machinery and materials belonging
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whether the following provisions in a note impair or preclude negotiability‚ the instrument in each instance being otherwise in proper form. Answer each statement with either “Negotiable” or Nonnegotiable” and explain why. A. A note signed by Henry Brown in the trade name of the Quality Store. Nonnegotiable‚ no fixed amount. B. A note for $850‚ payable to the order of TV Products Company‚ “If‚ but only if‚ the color television set for which this note is given proves entirely satisfactory to
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2. Negotiable Instruments Law (Act No. 2031) Chapter I. INTRODUCTION 1. The Negotiable Instrument Written contract for the payment of money‚ by its form intended as substitute for money and intended to pass from hand to hand to give the HDC the right to hold the same and collect the sum due. Instruments are negotiable when they conform to all the requirements prescribed by the NIL (Act 2031‚ 03 February 1911). Although considered as medium for payment of obligations‚ negotiable instruments are
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November 1‚ Bahama Cruise Lines borrows $3 million and issues a six month‚ 6% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31‚ the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate calculations. Omit the "$" sign in your response.) Date Nov. 1 General Journal Cash Notes payable Debit 3‚000‚000 Credit 3‚000‚000 30‚000 30‚000 Dec. 31 Interest expense
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22.10 Does the reference to the mortgage in the note cause it to be nonnegotiable? 1. Answer: Holly Hill acres Ltd purchased the land from Rogers and Blythe. Holly Hill issued a promissory note for the mortgage to Rogers and Blythe‚ months later Rogers and Blythe got a loan from Charter Bank of Gainesville. In order for Rogers and Blythe to secure the loan they got from Charter Bank‚ they supposed to transfer the promissory note from Holly Hill‚ which made Rogers and Blythe defaulted on the loan
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