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Tim Duggan owns and manages Sky Restaurant, a 24-hour restaurant near the city's medical complex. Tim employs 9 full-time employees and 16 part-time employees. He pays all of the full-time employees by check, the amounts of which are determined by Tim's public accountant, Cheryl Williams. Tim pays all of his part-time employees in currency. He computes their wages and withdraws the cash directly from his cash register. Cheryl has repeatedly urged Tim to pay all employees by check. But as Tim has told his competitor and friend, Sara Hill, who owns the Sara's Diner, "First of all, my part-time employees prefer the currency over a check, and secondly I don't withhold or pay any taxes or workmen's compensation insurance on those wages because they go totally unrecorded and unnoticed." Required: Who are the stakeholders in this situation?
What are the legal and ethical considerations regarding Tim's handling of payroll?
What are her ethical responsibilities in this situation? What internal control principle is being violated.
Discounted cash flow techniques are capital budgeting techniques that take into account both the time value of money and the estimated net cash flow from an investment.
Palermo Wholesalers is preparing its merchandise purchases budget. Budgeted sales are $408,000 for April and $485,000 for May. Cost of goods sold is expected to be 64% of sales.
Show the Non-controlling interest value for Maryland
Southern State University had the following account balances as of June 30,2012. Debits are not distinguished from credits, so assume all accounts have a "normal" balance: Prepare, in good form, a Statement of Net Assets for Southern State Universi..
Access the financial statements from the most recent annual report of a foreign company and a domestic company with which you are familiar to complete this assignment.
urban company manufacturers tables. if raw material used was 80000 and raw material inventory at the beginning and
Top company holds 90% of Bottom Company's common stock. In current year, Top reports sales of $800,000 and Cost of Goods sold of $600,000. For this sam period,
On October 30, Seba Salon, Inc. issued a 90-day note with a face amount of $36,000 to Reyes Products, Inc for merchandise inventory. Determine the adjusting entry for Seba on December 31 assuming the note carries an interest rate of 8%.
General Capital Assets. Make all necessary entries in the appropriate governmental fund general journal and the government-wide governmental activities
What are some common implementation issues with activity-based costing systems? How can they be avoided? Provide at least three examples and explain.
Management wishes to maintain a minimum cash balance of $8,000. Complete the basic cash budget for the month of January.
A company has 10 industry segments, of which the largest five account for 80% of the combined revenues of the company. What considerations are important in determining the number of segments that are separately reportable and How are the remaining..
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