Ethics Case: TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries . She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation. 1. To explain : Several other courses of action that she could have taken.

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Answer 1

Question

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

2.

To determine

To explain: Course of action.

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Answer 2

Question

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

2.

To determine

To explain: Course of action.

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Answer 3

Question

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

2.

To determine

To explain: Course of action.

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Answer 4

Question

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

2.

To determine

To explain: Course of action.

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Answer 5

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

2.

To determine

To explain: Course of action.

Answer 6

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

Answer 7

Chapter 3, Problem 3BTN

To determine

Ethics Case:

TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the adjusting entries. She completed books on time and submitted to the president while hiding the fact that adjusting entries does not show actual amount and it is her own estimation.

1.

To explain: Several other courses of action that she could have taken.

Answer 8

2.

To determine

To explain: Course of action.

Answer 9

2.

To determine

To explain: Course of action.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 3 - A company forgot to record accrued and unpaid...Ch. 3 - Prior to recording adjusting entries, the Supplies...Ch. 3 - Prob. 3MCQ Ch. 3 - On November 1, Stockton Co. receives $3,600 cash...Ch. 3 - Prob. 5MCQ Ch. 3 - Prob. 1DQ Ch. 3 - Prob. 2DQ Ch. 3 - Prob. 3DQ Ch. 3 - Prob. 4DQ Ch. 3 - Prob. 5DQ

Solution Summary: The author explains how TN, the accountant of P.E. Company, decides to estimate all the necessary items to make the adjusting entries. By telling president that she used estimation instead of actual data, she could have saved herself

To explain: Course of action.

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Chapter 3 Solutions