Homework Answers
Q 4. No
Explanation:-
No, it's not ethical. Showing false/bogus sales just for the purpose of getting loan from the bank is mis appropriation of power, leading to material misstatement of financial Statement.
Q 5. Two answers are correct:-
1.
3.
Add Answer to:
Question 4 (-105 Mary said, "The bank won't give us a Line of Credit. They say...
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Cant figure out question 1 and 3. Please help! Gary Stevens and Mary James are production...
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Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in El Segundo, California. Production managers are paid a salary and get an additional bonus equal to 10% of their base salary if the entire division meets or exceeds...
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Question 1 Mary said, "The bank won't give us a Line of Credit. They say our sales are too low." John said, "ABC said they would buy $200,000 worth of stuff from us in January. Why don't I just log in the sale now? It would increase our sales and we would get the loan." If the company did what john suggested, what two things might happen? Putting $200,000 extra on this year's income statement would reduce next year's income....
Question 6 (-10.5 John said. "I need 51,000,000 in sales to get my bonus and I only have $800,000. I'm going to ask ABC Company to buy $200,000 from me in December so I can get my bonus and then I'll let them return the goods in January so they can get their money back." Mary said, "Isn't that stealing from the company?" is John ethical? It's ok if the boss doesn't find out Question 7 -- 70,5 The company...
The following is an excerpt from a conversation between Joel Loomis and Krista Truitt just before they boarded a flight to Paris on Delta Air Lines. They are going to Paris to attend their company's annual sales conference. Joel: Krista, aren't you taking an introductory accounting course at college? Krista: Yes, I decided it's about time I learned something about accounting. You know, our annual bonuses are based on the sales figures that come from the accounting department. Joel: I...
The following is an excerpt from a conversation between Monte Trask and Jamie Palk just before they boarded a flight to Berlin on American Airlines. They are going to Berlin to attend their company's annual sales conference. Answer the critical thinking question that follows. Monte: Jamie, aren't you taking an introductory accounting course at college? Jamie: Yes, I decided it's about time I learned something about accounting. You know, our annual bonuses are based on the sales figures that come...
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, lowa, while Gary manages the plant in El Segundo, California. Production managers are paid a salary and get an additional bonus equal to 5% of their base salary if the entire division meets or exceeds its target profits for the year. The bonus is...
Cant figure out question 1 and 3. Please help!
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in El Segundo, California. Production managers are paid a salary and get an additional bonus equal to 10% of their base salary if the entire division meets or exceeds...
"I know headquarters wants us to add that new product line," said Dell Havasi, manager of Billings Company's Office Products Division. "But I want to see the numbers before I make any move. Our division's return on investment (ROI) has led the company for three years, and I don't want any letdown." Billings Company is a decentralized wholesaler with five autonomous divisions. The divisions are evaluated on the basis of ROI, with year-end bonuses given to the divisional managers who...
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