Accountant adjust the figures

Assignment Help Financial Accounting
Reference no: EM13920900

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. 

Reference no: EM13920900

Questions Cloud

Total manufacturing costs : Doggie Pals produces 100,000 dog collars each month that give off a fresh scent to keep your dog smelling clean between baths. Total manufacturing costs are $200,000. Of this amount, $175,000 are variable costs.
Percent interest in suburbia company : Prime Industries acquired a 70 percent interest in Suburbia Company by purchasing 14,000 of its 20,000 outstanding shares of common stock at book value of $210,000 on January 1, 2016.
Investment in each stock : Two stocks A and B. The anticipated annual return for a $1,000 investment in each stock has the following probability distribution. Probability Returns Stock A Stock B
Home theater components : Tiger Furnishings produces two models of cabinets for home theater components, the Basic and the Dominator. Data on operations and costs for March
Accountant adjust the figures : 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 adj..
Rented condominium : Spencer Duck (SSSN 000-22-111) is single and his eight year old son, Mitch, lives with him nine months of the year in a rented condominium at 321 Hickory Drive in Ames, Iowa. Mitch lives with his mom, Spencer's Ex-wife, during the summer months. His ..
Amount of cash proceeds from the issuance : Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2016.*Journalize the entries to record the following The first semiannual interest payment on December 31, 2016, and the amortization of the bond dis..
Sources of variability and degrees of freedom : Write out the ANOVA table just showing Sources of Variability and degrees of Freedom and indicate which SV are fixed effects and which are random.
Managerial accounting information be useful : 1-8 Using managerial accounting information (LO 1, 3, 4) John Dough's bakery in Waxahachie, Texas, specializes in chocolate chip cookies. While John's business does not yet have a national presence, like Mrs. Fields, he does have a strong statewid..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the amount of cash and cash equivalents

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

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.

  What is her income from the annuity payments

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 balanceslisted below are the

adjustment in general account balances.listed below are the unadjusted general ledger account balances of olsen company

  What is the gain or loss on the sale of the land

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 ..

  What amount will be used as the benchmark for determining

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

find out the shareholders equityconstruct a balance sheet for xyz company from the following data. whats the

  Different to statutory income and exempt income

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

Discuss reasons why Jordan would want to treat the leases as a sales-type instead of operating leases.

  Illustrate what is the balance in accumulated depreciation

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?

  Preapare big r acquisition/payment business process model

one check will be used to pay for several purchases. Preapare Big R's acquisition/payment business process model.

  Original note on the computer equipment purchased

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.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd