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Anita Zurbrugg was just hired as the assistant treasurer of Yorktown Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things, the payment of all invoices is centralized in one of the departments Anita will manage. Her primary responsibility is to maintain the company's high credit rating by paying all bills when due and to take advantage of all cash discounts. Chris Dadian, the former assistant treasurer who has been promoted to treasurer, is training Anita in her new duties. He instructs Anita that she is to continue the practice of preparing all checks "net of discount" and dating the checks the last day of the discount period. "But," Chris continues, "we always hold the checks at least 4 days beyond the discount period before mailing them. That way, we get another 4 days of interest on our money. Most of our creditors need our business and don't complain. And, if they scream about our missing the discount period, we blame it on the mail room or the post office. We've only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!" Instructions (a) What are the ethical considerations in this case? (b) Who are the stakeholders that are harmed or benefitted in this situation? (c) Should Anita continue the practice started by Chris? Does she have any choice?
On June 1, 2007, Rehman, Inc. issued $600,000, 6% bonds for $587,640, which includes accrued interest. Interest is payable semiannually on February 1 and August 1 with the bonds maturing on February 1, 2017. The bonds are callable at 102.
as a result of a thorough physical inventory hastings company determined that it had inventory worth 270000 at december
Recommend at least one improvement in the Website's sales order process you would implement to make it more efficient. Then, assess whether the recommendation warrants the benefits to clients versus the cost of implementation for the company. Prov..
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This project is expected to generate $44,000 of net cash inflows each year of its 6 year life. The project has no salvage value. What was the initial investment required for this project?
phelps inc. had assets of 131904 and liabilities of 27208 at the close of 2013 with 18546 shares of outstanding common
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to compare statement of cash flows reporting under the direct and indirect methods select direct indirect or both
Vertical analysis for both companies- you may use your calculations from the checkpoint ratio, vertical, and horizontal analysis, providing you show your work. horizontal analysis for both companies you may use your calculations from the checkpoin..
heathrow issues 2000000 of 6 15-year bonds dated january 1 2011 that pay interest semiannually on june 30 and december
the accounts payable account has a beginning balance of 10400 and the company purchased 55000 of supplies on account
audiomart is a retailer of radios stereos and televisions. the store carries two portable sound systems that have
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