User Account

All Pages

How would omission aftect financial statements of carroll

Assignment Help Accounting Basics
Reference no: EM133246904

Carroll Company is a multi-million dollar business. The business results for the year have been impacted significanty by a slowing economy. The company wants to increase its net income. it has incurred $2,900,000 in unpaid salaries at the end of the year and wants to leave those amounts unrecorded at the end of the year. (a) How would this omission aftect the financial statements of Carroll? (b) Which accrual basis of accounting principle does this omission violate? (c) Would this be considered an ethical problem?

Reference no: EM133246904

Questions Cloud

Prepare a necessary closing journal entries : Prepare a necessary closing journal entries to be made on 31st of December 2021. Narrations are required for each journal entry.
What issues relate to the health professions : What issues impact an aging society? What issues relate to the health professions? What issues apply to informal caregivers?
What is the magnitude of the vertical ground reaction force : What is the magnitude of the vertical ground reaction force? Draw 2a free body diagram, similar to that in lecture, to help visualize all forces being applied.
Calculate the amount of cost of goods sold : A company purchased 130 units for $20 on January 31. It purchased 150 units for $30 each on February 28. It sold 150 units for $70 each from March 1 through Dec
How would omission aftect financial statements of carroll : Carroll Company is a multi-million dollar business. The business results for the year have been impacted significanty by a slowing economy. The company wants to
What is most probable genotype : You are working up a patient with the following phenotype- RH:1, 2, 3, 4, 5. What nomenclature is this? What is the MPG (most probable genotype)?
Classify the accounting heads for nikea inc : The accounting process consists of various interconnected steps. In this activity, you will perform three crucial steps of the accounting cycle-preparing a jour
Present the work in an organized manner : As of December 31, 2012, ABC Inc. had a deferred tax liability of $25,000. As of December 31, 2013, the deferred tax liability is $42,000.
Discuss a time made a change to a health-related behavior : Discuss a time when you made a change to a health-related behavior: What behavior did you seek to change.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd