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For a variety of reasons, business attempt to manage their reported assets, liabilities, revenues, expenses, or income. Choose a subject from the "10 Worst Accounting Scandals".Do not research academic journals, as the articles typically will be too long and complex for our purposes. Your paper should be 4 pages (double spaced, 12 point type), summarizing: 1) what the company did, 2) why they did it, 3) what reported financial numbers were affected, and 4) the dollar amount by which the reported numbers were affected.
Attachment:- 10 Worst Accounting Scandals.pdf
1.The following information is from the annual financial statements of Raheem Company.
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On December 31, 2014, goods in transit to customers, with terms FOB destination, amounted to $2,700 (expected delivery date January 10, 2015). Because the goods had been shipped, they were excluded from the physical inventory count.
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a customer returned merchandise that had been paid for within a discount period for credit.the entry was recorded with
Newly formed T&M Steel Corporation has 50,000 shares of $10 par common stock authorized. On March 1, 2013, T&M Steel issued 5,000 shares of the stock for $15 per share.
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