All categories

3 years ago

Betty Vinson improperly capitalized line costs at her boss's direction. Which company did she work for

Business

1 answer:

Naddik [55]3 years ago

7 0

Answer: WorldCom

Explanation:

The WorldCom scandal of 2002 was the worst one in U.S. history and led to shareholders losing over $30 billion as a result of share prices falling drastically when it was revealed that the company had been making fraudulent accounting entries to look successful when it fact it had been losing money.

Betty Vinson was the company's Director of Corporate Reporting and her boss, CEO Bernie Ebbers, pressured her into making fraudulent entries because it was said that he "didn't want to disappoint Wall Street". This scandal was one of those that directly led to the Sarbanes-Oxley Act being passed.

You might be interested in

The following data pertains to activity and costs for two months:

Irina-Kira [14]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The following data pertains to activity and costs for two months:

June July

Activity level in units 10,000 12,000

Direct materials $ 16,000 $ ?

Fixed factory rent 12,000 ?

Manufacturing overhead 10,000 ?

Total cost $ 38,000 $ 42,900

First, we need to calculate the unitary variable cost of direct material and direct labor.

Unitary cost Direct material= 16,000/10,000= 1.6 per unit

Unitary cost Direct Labor= 12,000/10,000= 1.2 per unit

Now, we calculate the cost of the prime costs of 12,000 units:

Direct material= 1.6*12,000= 19,200

Direct labor= 1.2*12,000= 14,400

Total= $33,600

Manufacturing overhead= 42,900 - 33,600= $9,300

4 0

3 years ago

Sumner sold equipment that it uses in its business for $31,800. Sumner bought the equipment a few years ago for $79,100 and has

-Dominant- [34]

Answer:

Sumner's has a loss of $-7750 from the sale of the equipment

Explanation:

Solution

Given that:

We compute the amount of profit and loss, few steps will be taken which is given below:

Step 1: we compute the book value of the equipment which is shown below:

Book value = purchase price - depreciation claimed

= $79,100 -$39,550

= $39550

Therefore then book value is $39,550

Step 2: we calculate the amount of Sumner's gain or loss which is shown below:

The gain (loss) is = the value (sale) - book value

= $31,800 - 39550

= -7750

Therefore the loss from the sale of the equipment is -$7750

Which implies that Sumner's has a loss of $-7750

5 0

3 years ago

Please help me thankssss !!!!

fredd [130]

Answer:

Money owing to bank, Motor Van, Stock of goods

Explanation:

7 0

3 years ago

Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 d

Molodets [167]

Answer:

The answer is $45,000

Explanation:

$45,000

- Net Short Term Capital gain +Net Long Term Capital loss= 65,000+ (250,000)= -185,000

-Net Long Term Capital loss(2015)+Net Short Term Capital gain (2016)+Net Long Term Capital Gain(2017) = 60,000+45,000+35,000=140,000

-185,000+140,000= <u>(45,000)</u>

5 0

4 years ago

Read 2 more answers

A photocopier cost 96000 when new and has accumulated depreciation of 95000. if the business discards this plant asset, the resu

Semenov [28]

A photocopier cost 96000 when new and has accumulated depreciation of 95000. if the business discards this plant asset, the result is $1,000.

Cost of photocopier $ 96,000.

Less: Accumulated depreciation $ (95,000).

Loss on discard $ 1,000.

A photocopier (also known as a copier or copier, formerly Xerox machine, a generic trademark) is a machine that copies documents and other visual images onto paper or plastic film quickly and inexpensively.

The photocopier (also known as copier or copier, formerly Xerox machine, generic brand) is a machine that copies documents and other visual images onto paper or plastic film quickly and inexpensively. Most modern copiers use a technology called xerography. It is a dry process that uses the electrostatic charge of a photosensitive photoreceptor to first attract toner particles (powder) and then transfer them to paper in the form of an image.

Learn more about photocopier here: brainly.com/question/25307534

#SPJ4

3 0

1 year ago