How should Buddy have handled this situation

Assignment Help Accounting Basics
Reference no: EM132678576

Problem - Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. As part of his job, Buddy is responsible for preparing the company's trial balance. His supervisor placed a "hard deadline" of Friday at 5 pm for the completion of the trial balance. Unfortunately, Buddy was unable to get the trial balance to balance by the due date. The credit side of the trial balance exceeded the debit side by $3,000. To make the deadline, Buddy decided to add a $3,000 debit to the vehicles account balance. He selected the vehicles account because it will not be significantly affected by the additional $3,000.

1. Is Buddy behaving ethically? Why or why not?

2. Who is affected by Buddy's decision?

3. How should Buddy have handled this situation?

Reference no: EM132678576

Questions Cloud

Compute the price of a 1 year european put option : Use a 1 step binomial model. Compute the price of a 1 year European put option that has a strike price of $100. Suppose that the current stock price is $89
Write a tri- fold educational brochure : Write a Tri- fold educational brochure . Brochure must: have a unique title, student name and an introduction be typed in 12 Calibri or times roman fonts.
What are a couple of ways that the nurse can promote : What are a couple of ways that the nurse can promote the health of the preschooler and family? Make a list of nursing diagnoses and expected outcomes for.
Formulate a nursing diagnosis related to subfertility : Discuss 2020 National Health Goals related to reproductive health and sexuality that nurses can help to achieve. Formulate a nursing diagnosis related to.
How should Buddy have handled this situation : Buddy Dupree is the accounting manager for On-Time Geeks, a tech support company for individuals and small businesses. How should Buddy have handled
Briefly explain institutional theory : Explain the relationship between accounting theory, the accounting conceptual framework and accounting standards and Work individually and in groups
Substantive law-procedural law and criminal law : Discuss the differences between substantive law, procedural law, criminal law, civil law, common law, and statutory law.
Determine the maturity dates of three notes just described : Determine the maturity dates of the three notes just described. Zing paid $30,000 cash and replaced the $120,000 remaining balance of the account payable
Write your response of given problem based on task force : The U.S. Preventive Services Task Force (USPSTF) is an independent, volunteer group of national experts in prevention and evidence-based medicine that makes.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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