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A restaurant manager has received a bonus for each of the past five years based on increases in sales revenue that have averaged about 5% over the previous year. The restaurant owner asked to have the sales revenue figures for the last five years adjusted for inflation and the manager had an accountant adjust the figures. On reviewing the results, the manager notices that sales revenues have remained virtually flat, and in one year, sales revenues actually declined slightly. Before submitting the adjusted figures to the owner, the manager decides to change them to show that sales revenue increases averaged approximately 3% a year. By changing the adjusted figures, the manager hopes to show the owner the annual bonuses were justified. Discuss the ethics of this situation.
Calculate the amount of cash and cash equivalents that will be shown on the company's year-end balance sheet.
Prepare the consolidated financial statements for 20X3 using the direct method - acquired all the outstanding common shares of Blue Loft Ltd. for $1,409,200 cash.
Pam retires after 28 years of service with her employer. She is 66 years old and has contributed $42,000 to her employer's qualified pension fund. She elects to receive her retirement benefits as an annuity of $3,000 per month for the remainder of he..
adjustment in general account balances.listed below are the unadjusted general ledger account balances of olsen company
On January 1, 20Y8 Smith Company sold land to ASP, Inc. and accepted a 2 year, $500,000 face value note as payment. 6% interest is due each December 31. ASP's market rate of borrowing is 12%. Smith Company originally purchased the land for 80,000 in ..
Upstream Inter-segment Sales: $180,000 Downstream Inter-segment Sales: $60,000 For purposes of the Revenue Test, what amount will be used as the benchmark for determining whether a segment is reportable?
find out the shareholders equityconstruct a balance sheet for xyz company from the following data. whats the
Describe how it is different to statutory income and exempt income and determining whether a fringe benefit
Discuss reasons why Jordan would want to treat the leases as a sales-type instead of operating leases.
The estimated salvage value is $50,000, and the estimated total useful life is 5 years. The straight-line method is used for depreciation. Illustrate what is the balance in accumulated depreciation on May 1, 2013 when the asset is sold?
one check will be used to pay for several purchases. Preapare Big R's acquisition/payment business process model.
The note payable to Royce Computers (transactions 04 and 07) is a five-year note, with interest at the rate of 12 percent annually. Interest expense should be computed based on a 360 day year.
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