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Many organizations have been in the news over the past few years due to accounting ethical breaches that have affected their customers, employees, or the general public. Search the Internet or the Strayer Library to locate a story in the news that depicts an accounting ethical breach. You may select from any type of organization about which you have information or a curiosity. Write a four t (4) page paper in which you:
Your assignment must follow these formatting requirements:
The specific course learning outcomes associated with this assignment are:
What are the auditor’s responsibilities for inventory maintained in public warehouses or with other outside custodians? Illustrate what risks do auditors face with these different locations where inventory is stored?
King agreed to accept 96,000 local currency units (LCU) in full payment for this inventory. Assume this hedge is designated as a fair value hedge. Prepare the journal entries relating to the transaction and the forward contract.
Purpose summary journal entries related to the (1) sales, (2) sales returns, (3) collections of accounts receivable, and (4) write-offs of accounts receivable for the year ended September 30, 2009.
What is the net present value of the proposed investment ignore income taxes and depreciation and what does this statement of cash flow tell you about the sources and uses of the company?
Calculation of unit sales volume where income equals costs - Evaluate the company's breakeven point, i.e., at what unit sales volume would income equal costs?
If the allowance for doubtful accounts before any necessary adjustment is at $10,000, what adjustment will have to be made at the end of the period?
What journal entry could Albuquerque make to recognize the impact of this stock transaction?
Depreciation does not come close to accumulating the cash needed to replace the asset at the end of its useful life.” What is your response to the president?
Rex Baker and Ty Farney are forming a partnership to which Baker will devote three-fourth time and Farney will devote full time.
In addition, the company had outstanding all year a 10%, 3-year, $4,000,000 note payable and an 11%, 4-year, $7,500,000 note payable. What amount of interest should be charged to expense?
Evaluate the company's contribution margin (CM) ratio and Estimate the change in the company's net operating income if it were to increase its total sales by $1,000.
Calculate amount of realized gross profit on installment sales and deferred gross profit to be reported in the year end financial statements of Locken Corporation for the three years noted.
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