Explore BrainMass
Share

Explore BrainMass

    donald duck accounting question

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Well you sent Tex home a happy man. After having your desk re-varnished from the dirt of Tex's boots, you are ready to assist some real clients. You sit back and let fate take its course. Just then the buzzer sounds. You answer it, "Yes who is it?" The reply comes back, "Ish me!" "Me who?" you inquire, "Whash do you mean Me Whose? ISH ME! Let me in." As not to irritate a potential high paying client you buzz the voice in.

    As you are sitting their awaiting the mystery person, you office door mysteriously starts to open a bit then closes. That is strange you think, but you hear some shuffling behind your desk. You timidly ask, "Is someone there?" Yesh shome one is here! Ish Me." Well you venture to look over your desk and standing there about 2 ½ feet tall is a white duck with a blue sailor's suit on. "Can I help you sir?" "Don'ts you knows whosh I am? I am Donald Duck." Donald Duck, sure rings a bell, but as not to sound stupid and rude to a perspective client you say, "Oh yes, Mr. Duck, how are you sir? " Donald sits down in the arm chair and front of your desk and starts to cry. "Whaa whaa, whaa, whaa!" You never did have a crying duck on your hand, but you take out a box of tissues and offer it to Donald. "Go ahead tell me what happened."

    "Well you she, Mickey comes to me and sayshs, 'Donald I need your help (read like Mickey Mouse)'. And being a good friendsh of Mickey I shays, shure Mickey, whash happening. Mickey shayshs, that he sold 3 T.V.s to Goofy for $5,000 and Goofy signed this piece of paper sha Alying he would pay the $5,000 in 3 months. But Mickey needs the money now, so he signed the paper over to me and I paid him $2,000. Well 3 months pashes and I goes to Goofy and shayshs 'Goofy you need to pay me my money.' Goofy looks at me and says, 'Sorry Donald, but first of all I am suppose to pay Mickey, and those 3 T.V.'s didn't even work.' Well I went to Mickey and he says that Goofy is telling a lie, and the T.V.'s always work and says, 'don't you remember Donald we watched the Super Bowl on them two weeks before I sold them.' Well Mr. I don't remember noting."

    "Whash ish I'm going to do, Whash ish I am going to do? Daisy wanted that money to goesh to Bahamash, and now I don't even have the $2,000 I saved from my Lemonade Stand, pleash help me." Well you are definitely taken by this story.

    1. What possible issues are in the fact pattern that might 1) help Donald, 2) hurt Donald? Is there anything you can advise Donald to do to protect his interest? What if the facts above had this extra fact - Mickey Mouse signed the document on the back, MM? Or pay to the order of DD? 200 words

    2. Does Donald owe Goofy and implied warranties? What if Donald saw Goofy on the street and told Goofy that he was the new collector of the agreement and Goofy nodded and Daisy saw this nod. Is this enough assent? 200 words

    Well Donald was not happy, but he seemed calmed down with your advice. Right while he is leaving a man walks into your office. He is well kempt man, but something does not seem right about him in general. So you decide to question him. "Hello sir, why have you come to my office today." "This is the professional office, correct. And you handle professional things, my mom always tells me to come to the professional office when I need professional things done." he replies. "Sir maybe you want to have you mom come down to see me as well." You ask. "Well that might be necessary, but let me tell you what happened."

    "You see I was coming home from work, I am a stock boy at the local A&P (he is 45 years old), and this man says to me that he has great deal on this house, but I told him I don't have any money to buy a house. He says, no problem, all he needs is $10,000, which I said I had, he will let me borrow the rest of the money needed, so he has me sign this paper, and then gives me this other paper saying I own the house. Well I go over to the bank, give the man $10,000, and then go over to the house and walk in and these people are sitting in the diningroom eating and they ask me what am I doing with their keys. And I go looking for that man and he's not there. Oh my mother is going to kill me." You tell him not to worry and ask for the man's name, which is Sly Sleeker. You go on the Internet and Google his name, and get the address. You call the police and sure enough they catch Sly trying to sneak out of the back porch. The police are successful in getting back the $10,000 to your client, but Sly is threatening to sue your client on the paper your client showed you.

    3. Advise your client what his possible options are if a suit is filed against him? Would your opinion change if Sly filed the paper with the local county clerk? Why? What would say if your client's mother also signed the paper, and she is also slow like her son? Would your opinion change if she were a professional?
    200 word

    © BrainMass Inc. brainmass.com October 10, 2019, 5:04 am ad1c9bdddf
    https://brainmass.com/business/accounting/donald-duck-accounting-question-491255

    Solution Summary

    This solution thoroughly discusses the Donald Duck accounting situation presented.

    $2.19