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John Rigas, founder of Adelphia Communications, said that he was sorry for the problems at his company, but he didn't thik he deserved to be jailed. The judge rejected Rigas' argumnet, indicating that he had engaged in a blatant fraud by using shareholder money for his personal use.
a. The phrase, "feeding at the corporate trough" has been used to describe Rigas' actions at Adelphia. Explain what this phrase menas. Is this a good thing? Discuss reasons fr your opinion.
b. If you had owned stock at Adelphia, would you have been happy with Rigas' expenditures? Explain your answer.
c. What fraud risk factor is present in a family-run business? How do the auditors gather evidence to determine whether the financial statements are misstated in such business?
d. Explain how industry knowledge would be useful to auditors in a situation similar to that at Adelphia. What role did industry pressure play in the fraud?
Identification and Analysis of Potential Asset Retirement Obligations and determine whether you agree with LOI's conclusion and discuss the basis for your determination.
Watson uses four units of direct material in each finished unit. The direct material price has been stable and is expected to remain so over the next six months. Management wants to maintain the ending direct materials inventory at 60% of the f..
Assuming Curtiss uses the percentage-of-completion method of accounting for long-term construction contracts, compute gross profit or loss to be recognized in each of the three years.
Use the assumptions and data in the attached excel sheet. (there are two tabs)
The equipment had a recorded amount on Paw's books of $21,000. What journal entry should Rental make to record this exchange?
Wofford Company had net sales of $150,000 in its first year and $187,500 in its second year. Compute the amount of change in terms of both dollars and percentage.
question q1 a couple age 50 52 file a joint return for 2012 the couple claims their son as a dependent. the wife is
"Montana Co. has determined its year-end inventory on a FIFO basis to be $600,000. Information pertaining to that inventory is as follows: What should be the carrying value of Montana's inventory?
Find out the net present value of the investment in the machine. What is the difference between the total, undiscounted cash inflows and cash outflows over the entire life of the machine?
Explain the ethical dilemma that it faced or is currently facing. Analyze the way that it responded to this ethical dilemma and outline the legal, social, or political outcomes
evaluated that the total estimated life should be 10 years with a salvage value of $5,490 at end of that time. Consider straight-line depreciation.
Assume that Jong used the equity method of accounting for its investment in Nye instead of the cost method. Calculate the balance of its "Investment in Nye" account.
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