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Kipish [7]
2 years ago
6

Matthew is an accountant at Larson Enterprises. He frequently feels pressured to make unethical accounting decisions in order to

report a higher profit for the company. What situation is most likely to make him feel this way
Business
1 answer:
qwelly [4]2 years ago
6 0

Answer:

The Managing director wants him to reduce the production cost through the manipulation of figures. This is an unethical practice in Accounting.

Explanation:

The declaration of higher profit is a function of cost minimization. Since Mathew feels pressured to make unethical accounting decision, it implies that his CEO wants him to manipulate cost figures fraudulently so as to declare a higher profit figure.

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During 2021, its first year of operations, Hollis Industries recorded sales of $10,600,000 and experienced returns of $720,000.
Wittaler [7]

Answer:

Explanation:

The journal entries are shown below:

1. Sales revenue A/c Dr $128,000

        To Sales return and Allowances $128,000

(Being return sales is recorded)

The computation is shown below:

= Recorded sales × estimated returned percentage -  experienced returns

= $10,600,000 × 8% - $720,000

= $848,000 - $720,000

= $128,000

2. Inventory A/c Dr $76,800          ($128,000 × 60%)

           To Cost of goods sold $76,800

(Being returned cost of goods sold recorded)

7 0
2 years ago
Bank reconciliation information for Kaden Co. for May 31 is as follows: The bank statement balance is $2,936. The cash account b
vladimir1956 [14]

Answer:

The Journal entry are as follows:

(i) On May 31,

Miscellaneous Expense A/c   Dr. $50

To cash A/c                                           $50

(To record bank service charges)

(ii) On May 31,

Supplies A/c    Dr. $18

To cash A/c                  $18

(To record difference in recording)

Workings:

Supplies = $97 - $79

              = $18

7 0
2 years ago
Geoff hesitated as he read the fast food menu, unsure whether he should supersize his order of delicious golden French fries. Do
erma4kov [3.2K]

Answer:

Geoff's target service level is 0.76

Explanation:

Doing so would expand his expense from $0.99 to $1.59 and could very well give him the sustenance he expected to endure the second 50% of his day at the workplace. Obviously, in the event that he completed his cheeseburger and the typical measure of fries, he would essentially discard the additional ones. In any case, on the off chance that he neglected to supersize his request, he would need to take a confection break mid-evening and they weren't actually offering them away in the reprieve room candy machines. He would probably require two pieces of candy, which sold for $0.95 each.

5 0
2 years ago
Read 2 more answers
AlphaBrona Industries manufactures 50,000 components per year. The manufacturing cost of the components was determined as follow
sashaice [31]

Answer:

Option (a) is correct.

Explanation:

Manufacturing cost:

= Direct materials + Direct labor + Variable overhead + Fixed overhead

= $80,000 + $100,000 + $30,000 + $60,000

= $270,000

Purchase from outside:

= Fixed overhead + Purchase price

= $60,000 + (50,000 × $10)

= $60,000 + $500,000

= $560,000

Effect on income = Purchase from outside - Manufacturing cost

                            = $560,000 - $270,000

                            = $290,000

Therefore, the above calculations shows that income will decrease by $290,000.

8 0
2 years ago
LLY Corporation is planning to issue a $1,000 face value bond with a maturity of 30 years. The annual coupon rate is expected to
VladimirAG [237]

Answer:

$739.72 ≈  739.72

Explanation:

we can use an excel spreadsheet and the present value function to calculate the expected price of each bond ⇒ =PV(rate,nper,pmt,fv,[type])

  • fv = $1,000
  • pmt = $1,000 x 7.25% x 1/2 = $36.25
  • nper = 60
  • rate = 10% / 2 = 5%
  • present value = ?

=PV(5%,60,36.25,1000) = -739.72 since excel calculates the initial investment, it is always negative, so we just change the sign.

6 0
2 years ago
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