Hugo, a 21-year-old man, is birthday shopping for his mother over the online classifieds. While browsing the Internet for sale ads, he notices a particularly good deal on a 14-carat gold necklace with matching 1/3-carat diamond earrings. The seller says the jewelry is brand new, still in the box, and wants only $359 for the entire set. Hugo immediately e-mails the seller and arranges for the purchase of the jewelry. Hugo pays the seller, receives the necklace and earrings, and intends to give them to his mother for her birthday. 1. Suppose that the reason the jewelry was brand new and at such a bargain price online was because the seller actually stole the jewelry. If the jewelry were stolen, what type of title would Hugo hold when he purchased the jewelry? Explain.
2. Now suppose that the goods were not stolen. The seller purchased the jewelry on clearance at wholesale price, and that is why he can offer such a good deal. Suppose, however, that Hugo bought the diamond jewelry with a check. Come to find out, it was a bad check and the check bounced. In this scenario, what kind of title does Hugo possess? Explain.
3. If Hugo's title is voidable, what can the seller do?

Data pertaining to the current position of forte company are as follows: cash $437,500 marketable securities 170,000 accounts and notes receivable (net) 320,000 inventories 700,000 prepaid expenses 42,000 accounts payable 240,000 notes payable (short-term) 250,000 accrued expenses 310,000 required: 1. compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. round ratios to one decimal place. 2. compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. consider each transaction separately and assume that only that transaction affects the data given. round to one decimal place. a. sold marketable securities at no gain or loss, 75,000. b. paid accounts payable, 135,000. c. purchased goods on account, 100,000. d. paid notes payable, 105,000. e. declared a cash dividend, 125,000. f. declared a common stock dividend on common stock, 45,000. g. borrowed cash from bank on a long-term note, 205,000. h. received cash on account, 130,000. i. issued additional shares of stock for cash, 635,000. j. paid cash for prepaid expenses, 15,000.