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Research a company that has been in the news for unethical practices, such as Enron, Tyco, Global Crossing, or WorldCom.
Post a 250- to 300-word response that summarizes your ideas about the following:
What was the nature of the controversy regarding this company's practices?
How were accounting practices involved?
If you had been an accountant for this company, how would you have acted? Explain why.
What might have been done to prevent the controversy?
What was the affect of unethical behavior on the profitability of the company?
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Yager and Boggs formed Y&B Company in 2012. Yager contributed a building with a fair market value of $97,000, a mortgage of $75,000 and an adjusted basis of $50,000 in return for 22 shares of Y&B Company stock.
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The consideration paid to the seller was made entirely by transferring title of Treasury Stock to them? Where else would we see the impact of this transaction on the otherfinancial statements?
Alice purchased office furniture on September 20, 2010, for $100,000. On October 10, she purchased business computers for $80,000. Alice did not elect to expense any of the assets under sect; 179. Determine the cost recovery deduction for the busi..
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Chapman Inc. doubles the amount of its assets from the beginning to the end of the year. Liabilities at the end of the year amount to $40,000, and owners' equity is $20,000. What is the amount of Chapman's assets at the beginning of the year?
Erica transfers land worth $500,000, basis of $100,000, to a newly formed corporation, Robin Corporation, for all of Robin's stock, worth $300,000, and a 10-year note. The note was executed by Robin and made payable to Erica in the amount of $200,..
On December 31, prior to adjustments, the balance of Accounts Receivable is $16,000 and Allowance for Doubtful Accounts has a credit balance of $95. The firm estimates its losses from uncollectible accounts to be 5% of accounts receivable at the e..
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