Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You are the assistant controller in charge of general ledger accounting at Riverside Bottling Company.Your company has a large loan from an insurance company.The loan agreement requires that the company's cash account balance be maintained at $200,000 or more, as reported monthly. At June 30 the cash balance is $80,000, which you report to Gena Schmitt, the financial vice president. Gena excitedly instructs you to keep the cash receipts book open for one additional day for purposes of the June 30 report to the insurance company. Gena says, "If we don't get that cash balance over $200,000, we'll default on our loan agreement.They could close us down, put us all out of our jobs!" Gena continues, "I talked to Oconto Distributors (one of Riverside's largest customers) this morning.They said they sent us a check for $150,000 yesterday.We should receive it tomorrow. If we include just that one check in our cash balance, we'll be in the clear. It's in the mail!"
Instructions
(a) Who will suffer negative effects if you do not comply with Gena Schmitt's instructions? Who will suffer if you do comply?
(b) What are the ethical considerations in this case?
(c) What alternatives do you have?
Three kilos of raw materials are needed to produce each unit of finished product. If Tripod Exports plans to produce 280,000 units during the 2008-2009 fiscal year, how many kilos of materials will the company need to purchase for its production d..
Blocker, Inc. had $10,000 of notes coming due on January 10, 2011- how much of the $10,000 note should be shown as current?
From the auditors point of view which of the following is a preferable provision for imposition of civil liability for financial damages?
Espinosa Co. has a loss contingency to accrue. The loss amount can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The amount of loss accrual should be:
A company manufactures a single product. During year 2012, a total of 20,000 units of this product were produced and 15,000 units were sold. The sales price was $20.00 per unit.
On January 1, 2010, Kentwood Company issued bonds with a face value of $800,000. The bonds carry a stated interest of 7% payable each January 1 and July 1. Prepare the journal entry for the issuance assuming the bonds are issued at 97.
How exactly does international tax planning assist a US citizen avoid taxes? Discuss what you feel are the legal, ethical and fairness issues involved in doing this type of international tax planning.
Prepare the appropriate journal entry to record the award of SARs on January 1, 2006.
What per-member per month (PMPM) rate would be required to break even, ignoring any co-payments? What advice would you provide the primary care group?
What is the income tax owed by or refunded to an investor in the 35 percent income tax bracket. The current tax rate is 15 percent tax rate on long-term capital gains and dividend income?
Manning Imports is contemplating an agreement to lease equipment to a customer for five years. Manning normally sells the asset for a cash price of $100,000. Assuming that 8% is a reasonable rate of interest.
How much will Patti have in the account in three years?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd