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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

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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.

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On January 1, 2021, Red Flash Photography had the following balances: Cash, $19,000; Supplies, $8,700; Land, $67,000; Deferred R

ira [324]

Answer:

Red Flash Photography

Balance Sheet as at January 1, 2018,

Assets

Cash,............... $26,000

Supplies,........... $9,400

Land, ........ .......$74,000

Total..................109, 400

Capital and Liabilities

Deferred Revenue... $6,400

Common Stock..... ..$64,000

Retained Earnings...$39,000.

Total............................109,400

Red Flash Photography

Balance Sheet as at 31st December 2018

Revised Balance Sheet on 31st December 2018

Assets

Cash..........................................42,600

Account Receivable............ 44,000

Supplies....................................15,800

Land..........................................74,000

Prepaid Rent............................19,500

Total........................................... 195,900

Capital & Liabilities

Common Stock ......................98,000

Retained Earnings.................56,500

Accrued Wages........................5,400

Accounts Payable...................36,000

Total........................................... 195,900

Explanation:

1. February 15 Issue additional shares of common stock, $34,000.

ADD 34,000 TO EQUITY, AND TO CASH

2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.

LESS 49,000 FROM CASH AND ADD TO RETAINED EARNINGS AS INCOME, ADD 44,000 AS ACCOUNT RECEIVABLES AND ADD TO INCOME IN RETAINED EARNINGS

3. August 31 Pay salaries to employees for work in 2018, $37,000.

LESS 37,000 FROM CASH AND FROM RETAINED EARNINGS

4. October 1 Purchase rental space for one year, $26,000.

LESS FROM CASH AND FROM RETAINED EARNINGS

5. November 17 Purchase supplies on account, $36,000.

ADD TO STOCK, ADD TO ACCOUNTS PAYABLES

6. December 30 Pay dividends, $3,400.

LESS FROM CASH AND FROM RETAINED EARNINGS

The following information is available on December 31, 2018:

1. Employees are owed an additional $5,400 in salaries.

ADD TO ACCRUED SALARIES,LESS FROM RETAINED EARNINGS AS EXPENSES INCURRED IN THE PERIOD

2. Three months of the rental space has expired.

CREATE PREPAID RENT FOR 3/4 OF RENT (19,500) AND LESS 6500 FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD

3. Supplies of $6,400 remain on hand.

LESS 19600 (26,000-6400) FROM SUPPLIES AND FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD

4. All of the services associated with the beginning deferred revenue have been performed.

DELETE DEFERRED REVENUE OF 6,400 AND ADD SAME AMOUNT TO RETAINED EARNINGS AS INCOME EARNED

7 0

3 years ago

____________________________________ tries to welcome participation by all organizational members and to view each person as val

vladimir2022 [97]

Human Resources Management welcomes participation by all organizational members and views each person as valuable to the organization instead of focusing primarily on productivity

<h3>What is Management?</h3>

This refers to controlling and organizing people and things for better and more effective productivity or output.

Hence, we can see that there are different types of management, and based on this, they have varied characteristics, but the kind of management that focuses on individuals, rather than productivity is human resources.

Read more about human resources here:

brainly.com/question/25443563

#SPJ1

6 0

2 years ago

Which of the following is one of the reasons that the supply curve for loanable funds is upward sloping? A lower real interest r

Andru [333]

Answer:

A lower real interest rate makes saving less appealing.

Explanation:

The lower the interest rate, the lower the amount saved and the higher the interest rate, the higher the amount of money saved. There is a positive relationship between interest rate and the supply of loanable funds. This is why the supply curve for loanable funds is upward sloping

4 0

3 years ago

The method of determaining what a business will get in exchange for its products

liubo4ka [24]

Answer:

A. pricing

Explanation:

Pricing entails determining the value to attach to a product. It is the process through which a business decides how much customers will pay for its products. A business must consider the production costs and the desired margins when setting a price.

Price plays a crucial role in the success of a product and the business. A high price has higher profit margins but may put-off some customers. A low price may attract demand but may lead to losses. Sometimes, low prices are associated with a poor quality product.

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3 years ago

What is 30% of 3/5

Setler79 [48]

Answer: Solution for What is 30 percent of 3/5

30 percent *3.50 =

(30:100)*3.50 =

(30*3.50):100 =

105:100 = 1.05

Now we have: 30 percent of 3.50 = 1.05

Question: What is 30 percent of 3.50?

Percentage solution with steps:

Step 1: Our output value is 3.50.

Step 2: We represent the unknown value with $x$x.

Step 3: From step 1 above,$3.50=100\%$3.50=100%.

Step 4: Similarly, $x=30\%$x=30%.

Step 5: This results in a pair of simple equations:

$3.50=100\%(1)$3.50=100%(1).

$x=30\%(2)$x=30%(2).

Step 6: By dividing equation 1 by equation 2 and noting that both the RHS (right hand side) of both

equations have the same unit (%); we have

$\frac{3.50}{x}=\frac{100\%}{30\%}$

3.50

100%

30%

Step 7: Again, the reciprocal of both sides gives

$\frac{x}{3.50}=\frac{30}{100}$

3.50=

100

$\Rightarrow x=1.05$⇒x=1.05

Therefore, $30\%$30% of $3.50$3.50 is $1.05$

Explanation:

7 0

3 years ago

Read 2 more answers