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Research a company that has been in the news for unethical practices, such as Enron, Global Crossing, or WorldCom. Post a 250-300 word response that summarizes your ideas about the following
1.) What was the nature of the controversy regarding this company's practices?
2.) How were accounting practices involved?
3.) If you had been an accountant for this company, how would you have acted? Explain why.
4.) What might have been done to prevent the controversy?
5.) What was the affect of unethical behavior on the profitability of the company?
Complete a common-sized income statement, a common-sized balance sheet, and a statement of cash flows for 2010. Interpret your results.
The town of Seaside has decided to construct a new sea aquarium to attract tourist. The cost of the measure is to be paid by a special tax. Although most of the townspeople believe the sea aquarium is a good idea, there is disagreement about how t..
In 2012, Warren sold his personal use automobile for a loss of $9,000. He also sold a personal coin collection for a gain of $10,000. As result of these sales, $1,000 is subject to income tax.
Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese.
Your friend, Wendy Geiger, owns a small retail store that sells canies and nuts. Geiger acquires her goods from a few select vendors. She generally makes purchase orders by phone and on credit. Sales are primarily for cash. Geiger keeps her own ma..
Prepare a differential analysis report, dated February 8 of the current year, on the proposal to discontinue Product J. Calculate the annual differential profit.
The following data are accumulated by Eco-Labs, Inc. in evaluating two competing capital investment proposals:
Determine the depreciation and book value for each of the two investment groups for each year. Determine the gain/loss for tax purposes If the Group 5 and Group 7 assets are sold at the end of the planning period for a combined $500,000.
It is illegal for a government to spend money for any purpose unless a valid appropriation for that purpose exists. Does this legal rule assure good financial management for each government? Why or why not?
Correction of an error in the financial statements of a prior period discovered subsequent to their issuance.
On May 31, 2010, James Logan Company had a cash balance per books of $8,205.62. The bank statement from Farmers State Bank on that date showed a balance of $7,749.57. A comparison of the statement with the cash account revealed the following facts..
Allison is the sole shareholder of Destiny Corporation, which operates a travel agency for business travelers. Allison would like the corporation to donate some used computers to a local private school dedicated to the education of young ladies.
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