{"id":53298,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/accounting-discussion-homework"},"modified":"2017-08-16T13:07:33","modified_gmt":"2017-08-16T13:07:33","slug":"accounting-discussion-homework","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/accounting-discussion-homework\/","title":{"rendered":"accounting discussion homework"},"content":{"rendered":"<p>The net income of&nbsp;Dusek&nbsp;Photography Company decreased sharply during 2016. &nbsp;Patty&nbsp;Dusek, owner of the company, anticipates the need for a bank loan in 2017. &nbsp;Late in 2016,&nbsp;Dusek&nbsp;instructed Tim&nbsp;Loftus, the accountant, and a personal friend of yours, to record a $15,000 sale of portraits to the&nbsp;Dusek&nbsp;Family. The photos will not be shot until January, 2017.&nbsp;Dusek&nbsp;also told&nbsp;Loftus&nbsp;NOT&nbsp;to make the following December 31, 2016, adjusting entries:<\/p>\n<ul>\n<li>Salaries owed to employees &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; $14,000<\/li>\n<li>Prepaid Insurance that has expired &nbsp; &nbsp;$ 2,000<\/li>\n<\/ul>\n<p>1.Compute the overall effect of the&nbsp;transactions&nbsp;and report in a full sentence. Is the income overstated or understated?<\/p>\n<p>2. Are these actions ethical on the part of&nbsp;Dusek? Give support for your thinking. Who are the stakeholders, who is harmed? Which factor legal or ethical seems to be taking precedence? Identify the potential consequences.&nbsp;<\/p>\n<p>3. As a personal friend of Tim&#8217;s, what advice do you&nbsp;give him? (assume he asked)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The net income of&nbsp;Dusek&nbsp;Photography Company decreased sharply during 2016. &nbsp;Patty&nbsp;Dusek, owner of the company, anticipates the need for a bank loan in 2017. &nbsp;Late in 2016,&nbsp;Dusek&nbsp;instructed Tim&nbsp;Loftus, the accountant, and a personal friend of yours, to record a $15,000 sale <a href=\"https:\/\/www.benedictsol.com\/blogs\/accounting-discussion-homework\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-53298","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/53298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=53298"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/53298\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=53298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=53298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=53298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}