Mary Jones and John Jones received a check made payable "to the order of Mary Jones and John Jones." They each endorsed the check and negotiated it to a creditor as part payment on a debt. The check was subsequently dishonored. What is Mary and John's liability on the check to the creditor? a. Neither is liable on the check: only the drawer is liable when a check is dishonored. b. Whichever party's name is first in the chain of endorsements is liable. c. Mary is liable for one half of the amount and John is liable for one half of the amount. d. Mary and John have joint and several liability so either could be liable for the full amount.

Vulcan flyovers offers scenic overflights of mount st. helens, the volcano in washington state that explosively erupted in 1982. data concerning the company’s operations in july appear below: vulcan flyovers operating data for the month ended july 31 actual results flexible budget planning budget flights (q) 56 56 54 revenue ($350.00q) $ 16,500 $ 19,600 $ 18,900 expenses: wages and salaries ($3,300 + $91.00q) 8,354 8,396 8,214 fuel ($31.00q) 1,904 1,736 1,674 airport fees ($870 + $35.00q) 2,730 2,830 2,760 aircraft depreciation ($11.00q) 616 616 594 office expenses ($240 + $1.00q) 464 296 294 total expense 14,068 13,874 13,536 net operating income $ 2,432 $ 5,726 $ 5,364 the company measures its activity in terms of flights. customers can buy individual tickets for overflights or hire an entire plane for an overflight at a discount. required: 1. prepare a flexible budget performance report for july that includes revenue and spending variances and activity variances.