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Question - Sharolyn Grant, a woman from Brisbane, was a shopping addict and had run up considerable debt on excessive purchases of jewellery and clothes. She would also go to the grocery store and use plastic, take her kids to miniature golf, and go bowling with her husband. Christmases were a "little bigger," with gifts like $100 remote-control cars for her sons. Her husband was not aware of the addiction. She made $21 an hour at work, and her husband earned a little bit more as a machinist at an aircraft company. Family finances were a constant balancing act.
Sharolyn turned to her employer, Singh Consulting. She raised money to pay down her obligations by repeatedly padding the company's expense accounts. She took reimbursements for trips and conferences she did not attend. In her three years of work, she had collected a total of $240,000 from her employer. It got to the point where she didn't feel like she was doing anything wrong. When Singh found out, Grant admitted the fraud and pled guilty to one count of fraud and said that she was planning to pay it back.
Required - What type of fraud did Sharolyn Grant commit?
A company has sales (all on credit) of $8,30,000 and a cost of goods sold of $5,25,000. Calculate the inventory turnover ratio
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For the year ending 30 June 2017, Besar Ltd made total sales to Kecil Ltd of $100,000, while Kecil sold $45,000 worth of inventory to Besar Ltd.
Calculate financial ratios interpret results and draw conclusions.
Address the current roadmap towards the convergence of one agreed upon global accounting standard. Identify specific reporting differences between the standards. Identify which resource best meets the goals of reporting companies in a given cou..
Mary Sunny began business as Sunny Law, Journal entry are referred to as the recording of business transaction on the bases of the dual concept.
Question - What are the steps in accounting cycle? Please elaborate the basic concepts of Debit Credit and how it works on five heads of accounting
The Windshield division of Cargo Co. makes windshields for use in Cargo's Assembly division. The Windshield division incurs variable costs of $350.
What amount of interest income will be taken to profit or loss for the year ended December 31, Year 3
The entity intends to make five equal annual deposits in a fund that will earn interest at 8% compounded annually. What is the annual deposit to the fund
The company acquired $2, 400 in merchandise inventory with two-thirds of the purchase on account 4. The company sold merchandise inventory
the cost formula for monthly customer order processing cost has been established as 100.15 per order it is expected
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