So Whats the question ? Could you be more specific .
Answer:
Joel is behaving in a totally unprofessional & unethical manner
Explanation:
As assistant controller, Joel Kimmel's job specification & responsibility includes financial statement preparation & combination, putting of internal controls in place, detailed analysis & reporting of cost variance, acts as the go-between with external auditors amongst other such responsibilities.
As such, when Joel discovered the cost discrepancy during the reconciliation, it was actually his responsibility to call the bank's attention to the variance. This is something that clearly falls under his job specification & can be considered as neglect of duty. Joel's decision defeats the very purpose of bank reconciliation, which is to correct any such discrepancy & to the ensure the rectification of transactions. Most importantly, the decision Joel plans to take is very unethical & is against standard accounting practices
We can therefore, say that Joel's decision is thoroughly unethical & unprofessional
Answer: Net income Dr $14,5611
Bonus payable CR 14,5611
Narration. Bonus expenses payable to staff
Employee Bonus account Dr 14,5611
Bank/Cash CR. 14.5611
Narration. Payment of employees bonus for previous year.
Answer:
1. Mutual exclusivity
Explanation:
This researcher did not address the aspect of mutual exclusivity well enough as evidenced in options c and d in the coding above.
This is because option d says full time students. Option d is not mutually exclusive as a student can be a full time student and work part-time, and one can be a full time student and also be unemployed or employed full time
Capital
Capital have credit balance because capital is the owner's investment in the business and its a liability for the business to pay the capital in future.
Increase will capital have credit balance and it is reported on the liabilities side of the balance sheet.
Cash , expense, accounts receivable have debit balance as it is treated as asset of the business and have debit balance.
As per the double entry system , every transaction has debit and credit. multiple accounts are affected.
The amount of capital will always equal to the the all assets less all liabilities.
In the year end , profit or loss is apportioned in the capital account.
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