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Question: The July 28, 2007, issue of the Wall Street Journal includes an article by Kathryn Kranhold entitled "GE's Accounting Draws Fresh Focus on News of Improper Sales Bookings." Instructions Read the article and answer the following questions.
(a) What improper activity did the employees at GE engage in?
(b) Why might the employees have engaged in this activity?
(c) What were the implications for the employees who engaged in this activity?
(d) What does it mean to "restate" financial results? Why didn't GE restate its results to correct for the improperly reported locomotive sales?
which of the following is not an important factor to consider when preparing a sales forecast?a. the state of the
Compute to the nearest dollar the amount of depreciation Goodrich should record on the machine for the years ending 20×1 December 31, and 20×2
This is a partial adjusted trial balance of Darcy Designs Pty Ltd. What was the amount of service revenue received in advance at 1 July 2016/30 June 2016
What amount of the acquisition cost has already been expensed? What is the book value (carrying value)? Are any of the assets listed not being depreciated?
Kathleen Battle says, "Retained earnings should be reported as an asset, since it is earnings which are reinvested in the business." How would you respond to Battle?
Kling Company was organized in late 2010 and began operations on January 2, 2011. Prior to the start of operations, it incurred the following costs:
can somebody do this problem and walk me though the steps to complete it the book comes with the charts but i dont know
In taking out a Trial balance, a book keeper finds that he is out Rs.1600 excess debit. Being desirous of closing his books, he places the difference to a newly opened suspense account. In the next period, he discovers the following discrepancies.
Some investment projects require that a company increase its working capital. Under the net present value method, the investment and eventual recovery of working capital should be treated as:
how do the percent of revenue method and the percent of receivables method to estimate uncollectible accounts expense
Computer equipment was acquired at the beginning of the year, Determine the second-year depreciation using the straight-line method
mike smith employs two workers in his guitar-making business. the first worker george has been making guitars for 20
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