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Anita Zurbrugg was just hired as the assistant treasurer of Yorktown Stores. The company is a specialty chain store with nine retail stores concentrated in one metropolitan area. Among other things, the payment of all invoices is centralized in one of the departments Anita will manage. Her primary responsibility is to maintain the company's high credit rating by paying all bills when due and to take advantage of all cash discounts. Chris Dadian, the former assistant treasurer who has been promoted to treasurer, is training Anita in her new duties. He instructs Anita that she is to continue the practice of preparing all checks "net of discount" and dating the checks the last day of the discount period. "But," Chris continues, "we always hold the checks at least 4 days beyond the discount period before mailing them. That way, we get another 4 days of interest on our money. Most of our creditors need our business and don't complain. And, if they scream about our missing the discount period, we blame it on the mail room or the post office. We've only lost one discount out of every hundred we take that way. I think everybody does it. By the way, welcome to our team!" Instructions (a) What are the ethical considerations in this case? (b) Who are the stakeholders that are harmed or benefitted in this situation? (c) Should Anita continue the practice started by Chris? Does she have any choice?
Bradley is married, files a joint tax return, claims both children as dependents, and has a combined AGI with his wife of $114,000 for 2010. Determine Bradley's available education tax credit for 2010.
bohemian links inc. produces sausages in three production departments-mixing casing and curing and packaging. in the
Starbucks is a coffee company-a big coffee company. Duringa 10-year period, the number of Starbucks locations grew from 165to over 5,800 stores-an average increase of 43 percent everyyear.
Foam Pet Mattress Company can sell as many pet bed models A and B that it can produce, but the company has limited production capacity. It can produce two units of A or three units of B per hour and it has 4,000 production hours available.
required use the following information to complete phillip and claire dunphys 2011 federal income tax return. if
accounts payable are debts that must be paid off. accured an accounting term for an expense that a business has
power drive corporation designs and produces a line of golf equipment and golf apparel. power drive has 120000 shares
per the text voluntary compliance system is built on fairness of the system. the federal estate tax is frequently
davis corporation was authorized to issue 100000 shares of 10 par common stock and 50000 shares of 50 par 6 percent
Fred Jones owns 56 shares of the Robust Corporation's stock. Robust announces a 3 for 2 stock split. How many shares will Fred have after this split.
Determing ending inventory, cost of goods sold under FIFO, LIFO and Average. Which cost flow method results in lowest inventory amount for the balance sheet, and the lowest cost of goods sold for the income statement.
costs incurred to date 280000 600000 785000 estimated costs yet to be incurred 520000 200000 0 customer billings to
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