Expense ReimbursementTehra Dactyl is an accountant for Skeds, Inc., a footwear and apparel company. The company's revenue andnet income have increased by more than 100% over the past three years. During the same period, Tehra andher colleagues in the Accounting Department have not received a raise or salary increase. Frustrated by notreceiving a raise while the company has thrived, Tehra has begun submitting expense reimbursements forpersonal purchases. Tehra has a good relationship with her supervisor, and he simply "signs off" on Tehra'sexpense reimbursements. Tehra suspects that he knows that she is submitting personal expenses forreimbursement and is "looking the other way" because Tehra has not received a raise in the past three years.Are Tehra and her supervisor acting in an ethical manner? Why?

YES, Tehra and her supervisor acting in an ethical manner. As we know ethics in the workplace is…

Answered: Expense Reimbursement Tehra Dactyl is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the upcoming accounting honor society's annual scholarship dinner. Her firm supports the presentation because it hopes to recruit more excellent employees like Bridget. The university is 192 miles from her office. In order to get to the dinner by 5:00 p.m., she will need to leave work at 1:00 p.m. She can drive her personal car and be reimbursed $0.50 per mile. The dinner ends at 9:00 p.m. Company policy allows her to spend the night if the return trip is four hours or more. There is a student-run Inn and conference center across the street from campus that charges $102 per night. Instead of driving, she could catch a 3:00 p.m. flight that has a round-trip fare of $310. Flying would require her to rent a car for $39 per day and pay an airport parking fee of $26 for the day. The company pays a per diem of $35 for Incidentals if the employee spends at least six hours out of town. (The per diem…
Bridget Youhzi works for a large firm. Her alma mater has asked her to make a presentation to the upcoming accounting honor society’s annual scholarship dinner. Her firm supports the presentation because it hopes to recruit more excellent employees like Bridget. The university is 192 miles from her office. In order to get to the dinner by 5:00 p.m., she will need to leave work at 1:00 p.m. She can drive her personal car and be reimbursed $0.50 per mile. The dinner ends at 9:00 p.m. Company policy allows her to spend the night if the return trip is four hours or more. There is a student-run inn and conference center across the street from campus that charges $101 per night. Instead of driving, she could catch a 3:00 p.m. flight that has a round-trip fare of $290. Flying would require her to rent a car for $40 per day and pay an airport parking fee of $25 for the day. The company pays a per diem of $36 for incidentals if the employee spends at least six hours out of town. (The per diem…
AP#5 Issue: Over the past two years, Kermit Stone, the controller of Hilton Company, has been concerned that the company has been paying a large amount of money for state unemployment taxes. On reviewing the “unemployment file” with the head accountant, Deborah Murtha, he learns that the company’s tax rate is near the top of the range of the state’s experience-rating system. After calling the local unemployment office, Stone realizes that the turnover of employees at Hilton Company has had an adverse effect on the company’s tax rates. In addition, after consulting with Murtha, he discovers that the eligibility reports that come from the state unemployment office are just signed and sent back to the state without any review. The eligibility reports are notices that an ex-employee has filed a claim for unemployment benefits. By signing these reports “blindly,” the company, in effect, tells the state that the employee is eligible for the benefits. Any benefits paid are charged by the…
subject:accounting
A student decides to open her own business and earns $70,000 in accounting profit the first year. when deciding to open her own business she withdrew $20,000 from her savings, which earned 2.5 percent interest, took over a building that she owns and was renting to her friend for $12,500 a year. She also turned down three separate job offers with annual salaries of $30,000, $40,000 and $47,000. 1. determine the student’s total implicit cost. 2. What is the student’s economic profit from running her own business?
Refer to the AccuTax Incorporated exhibit One of the partners is planning to retire at the end of the year. May Higgins, the sole remaining partner, plans to add a manager at an annual salary of $91,800. She expects the manager to work, on average, 45 hours a week for 45 weeks per year. She plans to change the required staff time for each hour spent to complete a tax return to the following: Partner Manager Senior consultant Consultant Business Return 0.4 hour 0.1 hour 0.5 hour Complex Individual Required 1 Return 0.07 hour 0.13 hour 0.40 hour 0.40 hour Simple Individual Return any overtime The manager is salaried and earns no overtime pay. Senior consultants are salaried but receive time and a half for worked. The firm plans to keep all the senior consultants and adjust the number of consultants as needed including employing part- time consultants, who also are paid on an hourly basis. Higgins has also decided to have five supporting staff at $49,000 each. All other operating data…
Please provide a solution in good accounting form
Joe quits his computer programming job, where he was earning a salary of $60,000 per year, to start his own computer software business in a building that he owns and was previously renting out for $27,000 per year. In his first year of business he has the following expenses: salary paid to himself, $35,000; rent, $0; and other expenses, $25,000. Find the accounting cost and the economic cost associated with Joe's computer software business. (Enter numeric responses using an integer.) The accounting cost of Joe's business is $| -(Enter your response as an integer.)

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