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Question - Ebenezer is CEO of a successful small business. One day hes tops by to see Tim Cratchit, the new branch manager at First National Bank. Ebenezer and his partner Marley would like to double the size of their loan with the bank from $500,000 to $1 million. Ebenezer explains, "Business is booming, sales and earnings are up each of the past three years and we could certainly use the funds for further business expansion." Tim Cratchit has a big heart and Ebenezer has been a close friend of the family. He thinks to himself this loan decision will be easy, but he asks Ebenezer to e-mail the past three year´s financial statement as required by bank policy. In looking over the financial statements sent by Ebenezer, Tim becomes concerned. Sales and earnings have increased just as Ebenezer said. However, receivables, inventory and accounts payable have grown at much faster rate than sales. Further, he notices a steady decrease in operating cash flows over the past three years, with negative operating cash flows in each of the past two years. Who are the stakeholders and what is the ethical dilemma? Do you think Tim should go ahead and approve the loan?
Prepare journal entries to record the cost of the 90 Millennium laptops sold on May 10, assuming that Hudson Computing uses the: FIFO method
Med Inc. had one class of stock outstanding. The one class of stock was owned 50 percent by Lori and 25 percent by each of Lori's parents. In the current taxable year, Med Inc. redeemed 25 percent of Lori's 50 percent, and in exchange for the stoc..
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Is there anything unethical in what each of them proposes? Who are the stakeholders affected by their proposals
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briarcrest condiments is a spice-making firm. recently it developed a new process for producing spices. the process
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Daisey Company is a very profitable small business. It has not, however given much consideration to internal control
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