Answer:
The Truth in Lending Act (TILA)
Explanation:
TILA was passed in 1968 in an attempt to protect loan consumers from unfair practices carried out by lenders. TILA requires lenders to disclose the credit terms in a simple and understandable manner so that potential consumers can compare credit terms offered by different lenders. The information disclosed must include the loan's APR, principal, finance charges, payment schedule and monthly payments.
TILA applies to most types of consumer credit, including car loans, home mortgages, credit card, home equity loans, etc.
Part 1. The problem with the manager asking for an adjustment of the bad debt loss to meet the desired bonus is that it is <u>unethical</u>.
<h3>What is ethical accounting?</h3>
Ethical accounting follows the specific rules of the accounting profession and not the personal biases of management.
Accounting ethics deals with the following principles:
- Integrity
- Objectivity
- Professionalism,
- Confidentiality
- Professional competence and due care.
Part 2. The amount that would be recorded as the bad debt expense is $10,560
<h3>Data and Calculations:</h3>
2% of $33,000 = $660
5% of $14,000 = $700
10% of $22,000 = $2,200
25% of $12,000 = $3,000
40% of $10,000 = $4,000
Total $10,560
Part 3. The bad debt expense for the year would be $10,560 if there were no previous balance of the allowance for doubtful accounts.
Part 4. Since the required information is lacking, we can conclude that it is unethical behavior if the bad debt expense must be adjusted to meet the desired bonus target.
Learn more about ethical accounting at brainly.com/question/13396824
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Answer:
Asset = Equity + Liability
Account Receivable(+850) = Service Revenue (+850) + No impact
Explanation:
Service performed on Account create a receivable and increase the service revenue. As we know a receivable is an asset, addition to the receivable will increase the total asset value. On the other hand the service revenue ultimately becomes the part of equity in the form of net income or retained earning. So, increase in service revenue will increase the equity value.
Answer:
Flow chart or a flow model. I don't remember which it was
Answer:
ok so started with 48 total students then 3/4 takes accountancy so you do 48×3/4 which is 36 so 36 take accountancy leaving 12 students left then 1/4 do entrepreneur so 12×1/4 so 3 students take Entrepreneur leaving 9 students left to take management cources