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!
Over the summer, you were hired by your uncle as an accounting intern for his landscaping company, which operates as a sole proprietorship. While working as an intern, you discovered that Sandra, the company's only accountant, has been using the company's money to pay for some of her personal expenses. Sandra recorded these personal expenses in the company's books as business expenses. Sandra told you that she needed the money to pay the hospital bills of her sick child. She also requested that you not tell your uncle about her actions, because she is simply borrowing this money and will try to pay the company back in about a year. Because you were hired for only three months, there is no way for you to know whether Sandra will in fact return the money.
While your uncle is a great landscaper, he has very limited accounting knowledge and therefore does not know how to check Sandra's accounting work. He generally trusts Sandra because of her college degree in accounting.
Required:
Question 1: Analyze Sandra's actions using the fraud triangle as the framework.
Question 2: Discuss whether you should reveal Sandra's actions to your uncle and why or why not.
What is the impact on an employee pay cheque when the employers pays 50% of the health benefits for the employee?What is the impact on the pay cheque
Assume that mike materially participates in the partnership. How much of his distributive share from powerPartnership is potentially subject to the Medicare contribution tax? Assume that mike does not materially participate in the partnership. How mu..
The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method to the FIFO cost method at the beginning of 2013. At December 31, 2012, inventories were $112,000 (average cost basis) and were $116,000 a year earl..
Which entries are to be treated as accrued income or accrued expenses and why? Intereston term Loan for month ended 31.03.17 for Rs 4000 was paid in April 17.
The income statement information for 2010 and 2011 of the Connor Company (a sole proprietorship) is as follows:
The financial statements of the Melton Manufacturing Company reports net sales of $300,000 and accounts receivable of $50,000 and $30,000 at the beginning of the year and end of year, respectively. What is the average collection period for accoun..
A soft drink bottler incurred the following factory utility cost: $3,911 for 850 cases bottled and $3,966 for 1,000 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost p..
An account has a credit balance. The adjustment requires a credit to that account. Is the result in the adjusted trial balance a credit or debit
On June 1, 2017, Starbucks paid the rent of $66,000 for 20 of its stores in Washington and California. The rent covers the? period, June 1, 2017 through November 30, 2017. On June 1, Starbucks will record ________. On June? 30, Starbucks will record ..
Assuming that a periodic inventory system is used and operating expenses of $2800, what is the company's after-tax income using FIFO?
Scotiabank sold the strip bond to a client 10 years and 6 months after the issue date, What price did Scotiabank pay on the issue date?
Is there a conscious (or subconscious) process you explore when evaluating your options and how they may impact your desired outcome?
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