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.

Question

Want to see the full answer?

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Hello tutor please provide correct answer general accounting question with correct solution do fast

I want to this question answer for General accounting question not need ai solution

Please given correct answer for General accounting question I need step by step explanation

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

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

Expert Solution & Answer

Answer 11

Expert Solution & Answer

Answer 12

Want to see the full answer?

Check out a sample textbook solution

See solution

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.

Want to see the full answer?

Chapter 3 Solutions