(a)
Ethical issue
Company R is recording the
Adjusting entries: Adjusting entries are the entries that are recorded by the corporation to changes its accounting records into the accruals concepts. Before issuing the financial statement, the corporation is required to adjust the income statement and
To determine: The stakeholders of the organization which are affected by the variation in the legislation related to products.
(b)
(1)
The ethical issues raised in the situation of change in legislation according to the request of the president.
(2)
The ethical issues raised in the situation of recording the adjusting entries according to the request of the person M.
(c)
It is ethical to accrue the revenues and defer expenses to another year to which such revenues and expenses do not relate.

Want to see the full answer?
Check out a sample textbook solution
Chapter 3 Solutions
ACCOUNTING PRINCIPLES-W/WILEYPLUS
- General accounting questionarrow_forwardHorizon Industries uses a job-order costing system and last period incurred $77,000 of actual overhead and $95,000 of direct labor. The company estimates that its overhead for the next period will be $80,000. It also expects to incur $95,000 of direct labor. What should be the predetermined overhead rate for the next period if overhead is applied based on direct labor cost?arrow_forwardWhat is the PE ratio for fostertech inc. on these financial accounting question?arrow_forward
- provide correct answer of this General accounting questionarrow_forwardDon't use ai given answer accounting questionsarrow_forwardConversion cost per unit equals $6. Total materials costs equal $60,000. Equivalent units for materials are 12,000. How much is the total manufacturing cost per unit? A. $15 B. $11 C. $13 D. $14arrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education





