Accounting Principles volume 2
Accounting Principles volume 2
12th Edition
ISBN: 9781119132233
Author: Kimmel and Kieso (Custom for LaGuardia Community College) Weygandt
Publisher: WILEY C
Question
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Chapter 11, Problem 11.7BYP

(a)

To determine

Ethical Issue: The owner of the R’s Restaurant pays the wages of his 16 part-time employees by cash withdrawal from cash register and does not withhold or deduct any taxes or allowances. R’s public accountant has tried to convince R that the direct currency payment with any tax deduction is not proper and legal way but R is totally against to change the current process of payroll.

To identify: The stakeholders.

(b)

To determine

To identify: the legal and ethical consideration of payroll of R Company

(c)

To determine

To identify: the responsibilities of accountant A.

(d)

To determine

To identify: The internal control principles violated in the payroll process by R.

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Students have asked these similar questions
When recording an adjusting entry for accrued expenses, which accounts are affected?a) Assets increase, Liabilities increaseb) Expenses increase, Liabilities increasec) Expenses increase, Equity increasesd) Liabilities decrease, Equity increases
What must have been the net income for the year?
General Accounting

Chapter 11 Solutions

Accounting Principles volume 2

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