Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Mary Jansen is the assistant chief accountant at Casey Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first quarter. Mary is hurriedly trying to prepare a general ledger trial balance so that quarterly financial statements can be prepared and released to management and the regulatory agencies. The total credits on the trial balance exceed the debits by $1,000. In order to meet the 4 p.m. deadline, Mary decides to force the debits and credits into balance by adding the amount of the difference to the Equipment account. She chose Equipment because it is one of the larger account balances; percentage-wise, it will be the least misstated. Mary "plugs" the difference! She believes that the difference will not affect anyone's decisions. She wishes that she had another few days to find the error but realizes that the financial statements are already late.
Instructions
(a) Who are the stakeholders in this situation?
(b) What are the ethical issues involved in this case?
(c) What are Mary's alternatives?
The Chief Operating Officer where you work does not understand why the company should waste their time in preparing the statement of cash flows. He wants to have a better understanding of this financial statement and asks you to do the following:
Partners bob and don have agreed to share profits and losses in an 80:20 ratio respectively, after bob is allowed a salary allowance of $140,000 and don is allowed a salary allowance of $70,000. if the partnership had net income of $140,000 for 20..
Prepare an effective method amortization table for the first four semi-annual interest periods.
Prepare the T-Account entries for the following stock transactions of the ALEXANDER Corporation: Issued 1000 shares of $2 par common stock for $68 per share. The down payment is $52 per share with the remainder to be paid in three months.
The finance commissioner replies Yes that will save us lots of money, but we will need to change our accounting system a bit to handle it Discuss the fund accounting implications of the finance commissioner reply.
camera shop ince. started the year with total assets 80000 and total liabilities of 40000. during the year the business
Revenues generated by a new fad product are forecast as follows: $60,000 in year one, $40,000 in year two, $30,000 in year three, $10,000 in year four and $0 in each year after. Expenses are expected to be 30% of revenues, and working capital requ..
platypus building inc. won a bid for a new office building contract. below is info from the project accountant total
in 2012 helen sold property and reported her gain by the installment method. her basis in the property was 150000 and
At December 31, 2012, Cord Company's plant asset and accumulated depreciation and amortization accounts had balances as follows:
on january 1 2009 carlin corporation issued 2400000 of 5-year 8 bonds at 95 the bonds pay interest semiannually on july
To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in(1).
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd