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Kyle and Luis were friends since rooming together in college ten years ago. They were both finance and accounting double majors. They were each other's weddings and their wives were also good friends. After college Kyle went on to get his CPA license and ultimately went to work as controller, and then CFO, of a publicly held hardware chain, King's Hardware. King's had twenty-five retail outlets in a five state region and looking at acquiring a hardware chain (Rex's) of six retail outlets in a state that King's wants to get a presence in. Luis worked for a bank after college but then changed to being a real estate investor. Luis was the one who gave Kyle the tip on Rex's being open to a takeover offer; Luis was the realtor for all of Rex's store locations.
Problem 1. What are the ethical issues?
Problem 2. What would you do next and why? Consider the following in your response.
Open T-accounts for the stockholders' equity accounts that contain balances on January 1, 2020 and insert the appropriate balance labeling it 1/1/20
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Company acquires a delivery truck at a cost of $28,000 on January 1, 2009. The truck is expected to have a salvage value of $3,000 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-..
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canberra company uses a job order cost accounting system. during the current month the factory payroll of 180000 was
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