Linda Company's auditor discovered two errors. No errors were corrected during 2005. The errors are described as follows:
- Journal entries
(a) Merchandise costing $4,000 was sold to a customer for $9,000 on December 31, 2005, but it was recorded as a sale on January 2, 2006. The merchandise was properly excluded from the 2005 ending inventory. Assume the periodic inventory system is used.
(b) A machine with a 5-year life was purchased on January 1, 2005. The machine cost $20,000 and has no expected salvage value. No depreciation was taken in 2005 or 2006. Assume the straight-line method for depreciation.
Required: Prepare appropriate journal entries, if any, to correct the above errors (assume that the 2006 books have not been closed). Ignore income taxes.© BrainMass Inc. brainmass.com October 16, 2018, 7:14 pm ad1c9bdddf
a) We have to record the entry for sales as the transaction was done on December 31, 2005.
Here periodic inventory system is followed. Periodic inventory systems keep the inventory ...
Entries are given with a sentence explaining strategy.
What internal politics and group processes that led to Enron's downhill?
Please help with this assignment:
The Last Days of Enron -The events surrounding Enron during early 2002 clearly presented some ethical problems for management, some political problems for public officials, and of course some financial problems for investors. Fundamental to the misdeeds of Enron are the various social forces that led participants into the commission and acceptance of ethical malfeasance.
Assignment: Note: The assignment is NOT about Enron, but on assessing the internal politics and group processes that led the company on its downhill course. Ensure that you are focusing on these aspects and not on the " hot publicity" of Enron's ill fate.
1. How would you characterize the internal politics and group dynamics of Enron during their times of conflict and distress?
2. Be sure to consider and address the issues of: individual behavior, group processes, power relationships, and conflict management.
Please provide at least 3 pages of information to get me started. Thanks!View Full Posting Details