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KIM [24]
3 years ago
9

Margie Johnson is a staff accountant at ToolEx Company, a manufacturer of tools and equipment. The company is under pressure fro

m investors to increase earnings, and the president of the expects the Accounting Department to "make this happen". Margie's boss, who has been a mentor to her, is concerned that if earnings do not increase, he will be terminated. Shortly after the end of the fiscal year, the company performs a physical count of the inventory. When Margie compares the physical count to the balance in the inventory account, she finds a significant amount of inventory shrinkage. The amount is so large that it will result in a significant drop in earnings this period. Margie's boss asks her not to make the adjusting entry for shrinkage this period. He assures her that they will get "caught up" on shrinkage in the next period, after the pressure is off to reach this period's earnings goal. Margie's boss asks her to do this as a personal favor to him.
Required:
What should Margie do in this situation? Why?​
Business
1 answer:
QveST [7]3 years ago
7 0

Answer and Explanation:

1. Margie Johnson would be ethically wrong if she grants the boss's favour to not report inventory shrinkage. Also financial statements would not show a true and fair view if she decides to follow what her boss is asking. She should report true inventory value in financial statements.

2. Yes Ryan is being professional since he is out to improve company's sales and income even though he may be putting pressure on employees to work overtime

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HELP!!! Marketing
Harrizon [31]

Answer:

1. ANSWER: 20,000

2. ANSWER: $400,000

3. ANSWER: $28.45

Explanation:

1. If the average price for a new disposable cell phone is $20, and the total market potential for that product is $4 million;and Topco, Inc. has a planned market share of 10 percent. Then, Topco have the potential to sell in this market 10% * $4 million / $20 = 20,000 units of the proposed cell phone.

2. The planned market share in dollars is 10% * $4 million = $400,000

3. If Atlantic Car Rental charges $29.95 per day to rent a mid-size automobile. Pacific Car Rental, Atlantic's main competitor, just reduced prices on all its car rentals. In response, Atlantic reduced its prices by 5 percent.

Now Atlantic's new cost of rental for mid-size cars is: 95% of $29.95 =  $28.45

5 0
3 years ago
Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journa
BaLLatris [955]

Answer:

Finer Company

Sales Journal:

May 7 Debit Accounts Receivable (J. Dryer) $1,527

Credit Sales Revenue $1,527

To record the sale of goods on terms 2/10, n/30, via invoice no. 5704.

May 12 Debit Accounts Receivable (R. Lamb) $421

Credit Sales Revenue $421

To record the sale of goods on terms n/30, via invoice no. 5705.

 

May 25 Debit Accounts Receivable (T. Taylor) $691

Credit Sales Revenue $691

To record the sale of goods on terms n/30, via invoice no. 5706.

Explanation:

a) Data and Analysis for Sales Journal:

May 7 Accounts Receivable (J. Dryer) $1,527 Sales Revenue $1,527 terms 2/10, n/30, invoice no. 5704.

May 12 Accounts Receivable (R. Lamb) $421 Sales Revenue $421 terms n/30, invoice no. 5705.

 

May 25 Accounts Receivable (T. Taylor) $691 Sales Revenue $691 terms n/30, invoice no. 5706.

8 0
2 years ago
What is the process of presenting data graphically as charts, maps, or other pictorial formats in order to understand the result
Anastaziya [24]

<span>Data visualization is the process of presenting data graphically as charts, maps, or other pictorial formats in order to understand the resulting information easily. You can use data visualization when you want to present big data into a more understandable way and easier way of presentation.</span>

4 0
3 years ago
A country might create safety standards for certain products that other nations can't comply with. As a result, these nations ca
otez555 [7]

Answer:

administrative trade policy

Explanation:

A country might create safety standards for certain products that other nations can't comply with. As a result, these nations can't be involved with exporting parts for those goods and trade does not exist. These safety standards are a form of administrative trade policy.

Administrative trade policies are bureaucratic rules that are almost always <u>deliberately designed to restrict the flow of a particular import into a country</u>.

3 0
3 years ago
56) What is the coupon payment of a 25-year $1000 bond with a 4.5% coupon rate with quarterly payments? A) $3.75 B) $11.25 C) $2
elena55 [62]

Answer:

Quarterly interest payment= $11.25

Explanation:

<em>T</em><em>he coupon rate is the proportion of the nominal value of a bond that is paid as  interest . This proportion is always as a quoted as percentage . And the payment  can be made annually, semi-annually or even quarterly</em>

<em>Here the quarterly payment implies that the investor would receive the interest payment every three months</em>

<em />

Annual Interest payment = coupon rate × nominal value

                       = 4.5% × 1,000 = 45

Quarterly interest payment = 45 × 3/12 =  11.25

Quarterly interest payment= $11.25

3 0
3 years ago
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