Illustrate what are the damages in this case

Assignment Help Financial Accounting

Reference no: EM13131746

Jamestown Electric has a contract with an agency of the federal government to provide electrical power to the agency for a fi ve-year period. The contract stipulates, in part, that the power will be provided “at the lowest reasonable cost without compromising safety.” In connection with this contract, Jamestown Electric buys and uses coal from its wholly-owned subsidiary Great Plains Coal Company. The sale of this coal to Jamestown Electric specifi cally for this contract represents 40 percent of the coal sales for Great Plains. The profi t for Great Plains Coal Company during the life of the contract averaged $1.2 million per year. Jed Jones, a former employee of Jamestown Electric was fired by the firm and immediately fi led a qui tam suit alleging Jamestown had intentionally overcharged the government throughout the life of the power supply agreement

a. You are the forensic accountant for the whistle-blower’s attorney. What are the accounting issues in this case? What are the damages in this case? What documents and other information do you intend to seek? What is the basis for your opinion?

b. You are the forensic accountant for Jamestown Electric. What are the accounting issues in this case? What are the damages in this case? What documents and other information do you intend to seek? What is the basis for your opinion?

Reference no: EM13131746

Questions Cloud

Length difference of two moving objects : L1=Lo*sqrt(1-(v/c)^2) where Lo is length of an obiect at rest, c is velosity of light, v is velocity of the object. If L2=Lo*(c^2-v^2)/c^2, what is L1-L2?

What are the components of your damage model : What is your theory of damages, and what are the components of your damage model? What are your plans to counter the plaintiffs’ damage calculations?

Equations in standard form-hyperbola-parabola : Write this equation in standard form: xsquared-4(ysquared)-2x+16y-19=0. Write this equation in standard form: 6x-xsquared=8y+1

Which of the following would result in life insurance : Maggie is single and supports her 85-year-old parents who live in a home rented for them by Maggie and who have no income. What is Maggie's filing status and why?

Illustrate what are the damages in this case : You are the forensic accountant for Jamestown Electric. What are the accounting issues in this case? What are the damages in this case? What documents and other information do you intend to seek? Illustrate what is the basis for your opinion?

Discrete structures-solution set : Derive the statement as corollaries of other theorems from the text or of statement you have proved true in the exercise.

How many moles of bismuth form : 0.755 mole of bismuth oxide reacts with an excess of carbon to form bismuth metal according to the following reaction: Bi2O3(s) + 3 C(s)-> 2 Bi(s) + 3 CO(g) How many moles of Bi form?

What is the amount of depreciation expense : Pisa, Inc. uses the straight-line method to depreciate similar assets. What is the amount of depreciation expense recorded by Pisa, Inc. in the first year of the asset's life?

Write a memo outlining tax effects of the various methods : The partners of JPG Partnership want to change the form of entity from a partnership to a corporation. The corporation can be formed in several ways: The partnership can distribute the assets to the partners who then contribute the assets to the c..

User Account

All Pages