Case s ummary : The person M received two credit cards from two companies’ MD and HF. The credit card from MD was solicited, whereas the credit card from HF came unsolicited. M made several payments from the credit card of MD but did not make any payment from the credit card of HF. The person B stole both the credit cards of M and made various payments from both the cards. M notified MD about the theft of its credit card but didn’t notify the same to HF. M received the bill for payments made from the credit card of HF but refused to pay the same.
To find: M’s liability for the charges.
Trending nowThis is a popular solution!
Chapter 24 Solutions
Bundle: The Legal Environment Of Business: Text And Cases, 10th + Mindtap Business Law, 1 Term (6 Months) Printed Access Card
- At the beginning of the year, Keller Company's liabilities equal $55,000. During the year, assets increase by $85,000, and at year-end assets equal $190,000. Liabilities decrease by $10,000 during the year. What is the beginning and ending amounts of equity?arrow_forwardHi expert please give me answer general accounting questionarrow_forwardNot use ai solve this question Accounting questionarrow_forward
- The indirect cost allocation rate must have been? General accountingarrow_forwardRK Co. sells snowboards. Each snowboard requires direct materials for $140, direct labor for $55, and variable overhead of $64. The company expects fixed overhead costs of $673,000 and fixed selling and administrative costs of $160,000 for the next year. It expects to produce and sell 11,900 snowboards in the next year. What will be the selling price per unit if RK uses a mark-up of 17% of the total cost?arrow_forwardCalculate Cost os Goods soldarrow_forward
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education