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MEMO

RE: Check Cashing / Deposit Policies


TO: All Staf
Please follow these instructions when cashing or depositing checks from
our students.

Check cashing by customers is limited to $500.

Two pieces of identification are required, one of which must be a


valid driver's license.

All checks must be signed on the reverse side at the moment of


presentation.

Out-of-state checks are only accepted from residents.


International checks may not be cashed. They must first be
deposited and can be drawn on after a minimum of 14 days.
Direct bank deposits and formal reporting procedures are available.
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Payments received must always be deposited intact. Never make


disbursements from payments received.

Never send coin or currency through the mail. Bring it to Accounting


Services and obtain a receipt from the cashier. Come before 2 o'clock,
so that we can include it with that day's bank deposit.

Checks and money orders should be restrictively endorsed with


these words as soon as you receive them:
Smither Brothers Language School
15 Whitehead Street
Olympia, WA 98501

Check Your Understanding

What is the limit on cashed checks?

_____
How many piece of identification are required?

_____
When must the checks be signed?

_____
In order to cash an out-of-state check what must you be?

_____
How long do students have to wait for international checks?
_____
Taken from http://esl.about.com/od/businessreading/ | 1

What mustn't be sent through the mail?


_____
Answer

What is the limit on cashed checks?


$500

How many piece of identification are required?


2

When must the checks be signed?

At the moment of acceptance


In order to cash an out-of-state check what must you be?

A resident
How long do students have to wait for international checks?

at least 14 days
What mustn't be sent through the mail?
coin or currency

Taken from http://esl.about.com/od/businessreading/ | 2

FINANCIAL PROFILE

Ubix computers is a publicly traded corporation actively traded on the


NASDAQ. The company was launched in 1999 with an IPO raising $70
million. Shareholders own more than 80% of the company while upper
level management and employee stock options own the remaining 20%.
Ubix is located in Denver, Colorado with manufacturing plants in Taiwan
and Indonesia. The total cash flow during 2000 was $365 million. While
total operating expenses for the past fiscal year totaled $180 million
resulting in a pre-tax profit of $175 million. Ubix Computers market share
in the US domestic market has grown from 2% to 5% during the past 18
months. Future plans include the development of a line of laptop
computers to export to the Chinese Market. CEO, Robin Lancaster, was
optimistic in his vision of the future. While other computer manufactures
are loosing market share, we are increasing our market share at over
100% annually. Ubix ofers consumers computers that are made to meet
their specific requirements, while pricing these computers at mass market
prices. This unique combination ensures Ubix will be a major market
player in the near future.
Check Your Understanding

Which market is Ubix traded on?

_____
How much money did the IPO raise?

_____
Who owns 80% of stock?

_____
Where are Ubix manufacturing plants located?

_____
How much has market share grown over the past 18 months?

_____
How much did Ubix spend on operating expenses?

_____
Which market is Ubix trying to enter with its new line of laptop
models?
Taken from http://esl.about.com/od/businessreading/ | 3

_____
What prediction is made about Ubix in the future?
_____

Answer

Which market is Ubix traded on?

NASDAQ
How much money did the IPO raise?

$70 million
Who owns 80% of stock?

shareholders
Where are Ubix manufacturing plants located?

Taiwan and Indonesia


How much has market share grown over the past 18 months?
3%

How much did Ubix spend on operating expenses?

$180 million
Which market is Ubix trying to enter with its new line of laptop models?

the Chinese market


What prediction is made about Ubix in the future?
It will be a major player in the market.

Taken from http://esl.about.com/od/businessreading/ | 4

Taken from http://esl.about.com/od/businessreading/ | 5