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Federal Land Bank (FLB) filed an action to foreclose a mortgage on property owned by Howard and Harriet Franklin. Before trial, FLB's attorney wrote to the Franklin's attorney inviting settlement offers. The Franklin's attorney wrote to FLB's attorney expressing an interest in settling. FLB's attorney responded with an offer that he stated his "client has authorized me to extend." George Johnson, a vice president of FLB, received copies of all letters. The Franklins accepted the offer, but three weeks late the FLB attorney wrote to say that all settlement offers had to be cleared through the Cleveland office. Because their agreement had not been approved by that office, the foreclosure was going to proceed. The Franklins sued, claiming that the FLB attorney had authority to settle the case and that FLB was bound by the settlement agreement. How should the court rule?
max a cash basis taxpayer had 2100 in state income taxes withheld from his paychecks during the current year. in april
respond to the capstone discussion question. identify situations that might lead to unethical practices and behavior in
you are part of a project management team evaluating accounting software packages that could be used by samps i.e. the
moore corporation follows a policy of a 10 depreciation charge per year on all machinery and a 5 depreciation charge
packo company acquired all the voting stock of sennett corporation on january 1 2010 for 90000 when sennett had capital
Tara Enterprises has numerous investments in debt and equity securities. The controller, James Cameron is preparing its year-end financial statements and is in the process of classifying for the first time the securities in the portfolio.
Rollincoast Incorporated issued BBB bonds two years ago that provided a yield to maturity of 11.5%. Long-term risk-free government bonds were yielding 8.7% at that time.
find a business related example of a potentially unethical accounting situation on the internet. summarize the
galehouse gas stations inc. expects sales to increase from 1550000 to 1750000 next year. mr. galehouse believes that
company a maintains an accounts recevialedepartment that currently employs 8 people. they areinterested in doing an
Partner A performs $5,000 of contract-type Code Sec. 707(a) services for the ABC partnership in December of 2009, but does not get paid until January of 2010. A and ABC are both calendar-year taxpayers, but A is on the cash basis and ABC is on the..
charles inc. was a closely held c corporation engaged in the real estate rental business in 2011. the company had 6
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