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• Resource: Financial Accounting (6th ed.) and Internet
• Research a company that has been in the news for unethical practices, such as Enron, Tyco, Global Crossing, or WorldCom.
• Post a 250–300 word response that summarizes your ideas about the following:
o What was the nature of the controversy regarding this company’s practices?
o How were accounting practices involved?
o If you had been an accountant for this company, how would you have acted? Explain why.
o What might have been done to prevent the controversy?
o What was the affect of unethical behavior on the profitability of the company?
Describe the elements of the Generally Accepted Auditing Standards (GAAS).
It is the end of the accounting period, and your boss asks you to help determine the inventory balance to place in the company's balance sheet. Explain which physical quantities of inventory that you will include, and which you will exclude.
At the begining of the year , Addison Company's assets are 259,000 and it's equity is 194,250. During the year ,assets increased 80,000 and liabilities increase 52,643. What is the equity at the end of the year?
Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual.
on june 8, alton co. issued an 80,000, 6%, 120 day note payable to seller co. assume that the fiscal year seller co ends june 30. using the 360 day year in your calculations, what is the amount of interest revenue recognized by seller in following..
Research and locate a company who was audited by an outside source and explain the method, technique, and findings of an audit.
Determine the Net Present Value of purchasing the new freezer using a required rate of return of 14%. Should bravo purchase the freezer?
A customer of company ABC seems to be doubtful at balance sheet date.therefore company made the provision for the customer at the rate 5%.after the balance sheet date.customer paid 80% of the total amount.required:identify the type of event.2.what..
A machine costing $85,000 with a 5-year life and $5,000 residual value was purchased January 2, 2009. Compute depreciation for each of the five years, using the declining-balance method at twice the straight-line rate.
It finances with debt and common equity, but it wants to avoid issuing any new common stock during the coming year. Given these constraints, what percentage of the capital budget must be financed with debt?
Hector Gonzales Company incurs these expenditures in purchasing a truck: cash price $18,000; accident insurance (during use) $2,000; sales taxes $900; motor vehicle license $300; and painting and lettering $1,200. What is the cost of the truck?
Which of the following is not a benefit of budgeting? a) It uncovers potential bottlenecks before they occur. b) It ensures that accounting records comply with generally accepted accounting principles.
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