Other - Business & Finance - October 2007

Give a company that was involoved in Accounting fraud or malpractice

2007-10-17 19:18:33 · 2 answers · asked by Arif 1

What are cash equivalents? How are purchases and sales of cash equivalents reported on the statement of cash flows?

2007-10-17 19:14:56 · 1 answers · asked by Anonymous

What information does the statement of cash flows report that is not reported on the other required financial statements? How do investors and creditors use that information?

2007-10-17 19:14:09 · 2 answers · asked by Anonymous

1. During the taking of its physical inventory on December 31, 2008, Albert’s Bike Shop incorrectly counted its inventory as $210,000 instead of the correct amount of $180,000. The effect on the balance sheet and income statement would be as follows:
a.assets and retained earnings overstated by $30,000; net income understated by $30,000.
b.assets overstated by $30,000; retained earnings understated by $30,000; no effect on the income statement.
c.assets overstated by $30,000; retained earnings understated by $30,000; net income statement understated by $30,000.
d.assets and retained earnings overstated by $30,000; net income overstated by $30,000.

2. In a merchandise business, sales minus operating expenses equals net income. True or False

3. Which of the following accounts has a normal credit balance?
a.Sales
b.Merchandise Inventory
c.Delivery Expense
d.Sales Returns and Allowances

4. Sellers and buyers are required to record trade discounts.
True or False

2007-10-17 19:13:58 · 2 answers · asked by austin 1

2007-10-17 19:01:11 · 1 answers · asked by Anonymous

1. The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable.
True or False

2. The following lots of a particular commodity were available for sale during the year:
Beginning inventory 10 units at $61
First purchase 25 units at $63
Second purchase 30 units at $64
Third purchase 15 units at $73
The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year according to the average cost method?
a.$1,236
b.$1,415
c.$1,305
d.$1,300

3. If the buyer is to pay the transportation costs of delivering merchandise, delivery terms are stated as
a.FOB buyer
b.FOB destination
c.FOB n/30
d.FOB shipping point

4. Who pays the freight costs when the terms are FOB shipping point?
a.either the seller or the buyer
b.the buyer
c.the ultimate customer
d.the seller

2007-10-17 19:00:32 · 1 answers · asked by austin 1

Considering the corporate expansion and improvement of capitalistic motives, what makes a person better equipped for the world? Just a mere job or being an entrepreneur? Please explain your choice. I thank everyone in advance. Good luck to you all.

2007-10-17 18:41:15 · 3 answers · asked by Eternity 6

here is the deal. Ive worked professionally with a theatre and decided to get an agent. I got an agent, signed the contract and paid a small fee to be listed on their website and book. I was told they would call me at least 2 times a week to go out on auditions, it has been a month and i have not received a call or anything from them. Ive called them they said just to go and do some extra work, and now I want to do more.
1. If I send in my headshot and resume do I list my alleged agencies contact info on it, or my own? the way I see it is that if they don't get me the the audition they don't get the credit so it shouldn't involve them.
2. i just need general help on where to send my headshot and resume..casting directors ? other agencies?


please help if you can.

thanks

2007-10-17 18:04:21 · 1 answers · asked by simply who 1

2007-10-17 17:57:03 · 14 answers · asked by harish y 1

On the online tracker it says it is supposed to come tomorow. It also says that my package is in "city of industry" (in L.A.). I live in laguna beach. Do you think it will get here tommorow?

2007-10-17 17:09:24 · 5 answers · asked by Anonymous

I am a sole-proprietor. I obtained my Tax ID number about six years ago, but this is the first year that I have actually done any business. I actually started in April of 2007. I have made a little over $200 so far this year. What exactly can I write-off on my business taxes? Please be very specific.

My husband is going to help me with certain tasks in my business, so he is somewhat like my business partner. If he and I go out to dinner to discuss the business plan, marketing and advertising ideas, can I write that off? If I buy a new desk for my home office can I write that off. Are there any limitations to what I can actually buy?

If I have a business gas card and use it for my personal gas, is that illegal? I only plan to write-off what I used for business expenses.

2007-10-17 16:21:34 · 3 answers · asked by Hoping he will bless me with #1 4

This audit is for a private corporation with the following issues: No statement of cash flows, change method of accounting for long-term contracts restating prior years, debentures issued restricting future cash dividends to earnings.

My report contains theses paragraphs:
1. Introductory, excluding cash flow
2. Scope paragraph- no changes
3. Disclosure paragraph-debentures
4. Lack of statement of CF
5. Opinion- except for above 2 paragraphs
6. explanatory paragraph- change in method of accounting

Is this one too many paraphraphs for a report of this type or does it appear correct.

2007-10-17 16:11:24 · 3 answers · asked by ucla11bruins2002 1

2007-10-17 15:45:04 · 17 answers · asked by Anonymous

I have about $1400 USD worth of Mexican coins and about the same for British coins. I also have a several hundred dollars worth of German coins.

I can exchange foreign bank notes or bills for US currency at banks or American Express but cannot find anyone who will take large amounts of coins. Coin dealers are not interested unless the coins are rare.

Is there anywhere in North Texas to exchange boxes of foreign coins for dollars?

.

2007-10-17 14:41:53 · 1 answers · asked by The Other Grandpa 4

2007-10-17 13:57:54 · 2 answers · asked by wizzard 1

2007-10-17 13:39:06 · 7 answers · asked by glenn b 1

Ok
a Magazine Salesman came to my house and tried to sell magazines
and i told my fake information of me except address,name
the magazine cost like 70 bucks
so i didnt want to buy it
but im worried about the paper i signed
he said pay 28 dollars and they will send the bills
and i said no, i dont want it.
and he went someplace with my signature paper
is that a problem
or i could call that company to cancel

2007-10-17 13:32:05 · 2 answers · asked by Ya done 2

At the end of the check line where you write the dollar and/or cent amount, the word "dollars" may be/ is typed.

Why?
Is it because that is our currency in America is "dollars"?

2007-10-17 13:02:44 · 2 answers · asked by remarie84 3

2007-10-17 12:14:53 · 7 answers · asked by Jorge Q 1

A contestant was held at our work and the prize stated a $5000 celebration. There are only 3 in my dept so we were taken to dinner a very elegant restraunt and then given a $1000 gift card. About 3 weeks ago the corp told us that it was againiest the rules to give us the cards and so they said that they would be added into our income at the end or the year. Well needles to say they did not do it that way. They put it as income on our check and taxed it which needles to say took my whole check. These cards say gift card on them and we could not use the for gas or paying our bills. Only merchandise. Myself and one other person are single parents and live paycheck to paycheck and have no funds to even travel to work,pay bills and with no overtime we can not replace this income to pay our bills because of no overtime available. So is this legal,it was a gift that turned into a nightmare.

2007-10-17 11:51:19 · 3 answers · asked by blublu042 2

Former Mexican Pres. V. Fox, & Pres. G.W. Bush are considering a new regional currency between USA,Mexico & Canada. Coins have been minted by the Denver Mint for a new idea called "North American Union"

2007-10-17 11:13:04 · 3 answers · asked by jay marcus 3

2007-10-17 10:35:17 · 6 answers · asked by Jspa 1

why don't we adjust entries to start with and then prepare a trial balance instead of preparing it twice?!

2007-10-17 09:21:41 · 2 answers · asked by suray f 2

mine is to be a game programer. with my earns from programing i plan to buy a parking lot. with the profit from my parking lot, i plan on buying anouther parking lot and so on untill i have at least 15-20 parking lots nationwide.

i'll be able to retire when im 50.

2007-10-17 09:12:21 · 16 answers · asked by Anonymous

Can anyone tell me about any website used to provide its users with simple formula or calculaktion to change from one currency to another?

2007-10-17 08:48:55 · 3 answers · asked by milmillington2 1

I work with a guy who no matter what can do no wrong. In the last two days alone I have had to go back and compensate for his inability to pay attention to instructions. He ignors verbal instructions that intale more work. He refuses to believe that he makes mistakes and has lied about entering things wrong even if his handwriting and computer ID are all over the items.

The sad thing is that my boss refuses to dicipline him for fear of upsetting the work enviornment here. Instead, he has made it my responsibility to just fix/cover up the problems before they become an issue. I am told "Oh well, a little extra work for you. Whats the big deal? He is finished and its too late to make him correct it so just make an entry to fix it."

My work, however cannot be completed in the same mannor. I am held to a high expectation level. I have questioned why I continuosly have to redo his work and was told that it is my problem to catch the mistakes. He does a fine job.

2007-10-17 08:46:06 · 7 answers · asked by Anonymous

Please don't answer if your an college buff or don't know.

2007-10-17 08:22:55 · 5 answers · asked by Big G 1

2007-10-17 08:20:15 · 4 answers · asked by arashsh2001 2

2007-10-17 06:14:55 · 4 answers · asked by the Legend is here 1

I need step by step help

2007-10-17 05:39:27 · 1 answers · asked by amanda R 1