ACCT 312 Week 1 Homework

Ex. 16-22: Operating loss carryback and carry forward

(This exercise is based on the situation described in E 16–21, modified to include a carryforward in addition to a carryback.)

Wynn Sheet Metal reported an operating loss of $160,000 for financial reporting and tax purposes in 2013. The enacted tax rate is 40%. Taxable income, tax rates, and income taxes paid in Wynn‘s first four years of operation were as follows:

Ex. 16-3: Taxable income given; calculate deferred tax liability

Ex. 16-5: Temporary difference; future deductible amounts; taxable income given

Ex. 16-10: Deferred tax asset; taxable income given; valuation allowance

ACCT 349 Week 1 Assignment Ethics Case BYP 1-6

Ethics Case BYP 1-6

(a) Who are the stakeholders in this situation?

b) What are the ethical issues involved in this situation?

ACCT 349 Week 1 Homework 8-4, 8-6, 8-8, 8-9, 8-13, 8-22

ACCT 444 Week 1 Homework 1-18, 2-19, 4-22, 26-25

ACCT 439 Week 1 Case Studies

ACCT 461 Case 4-1 PC Depot

Question 1

Explanation of Journal Entries

Question 2

Ledger Accounts

Question 3

Analyzing The Facts & Prepare Journal Entries to Ledger Accounts

Journal Entries

Question 4

Adjusting Entries

The accounts that need adjusting are Interest on the bank loan, the depreciation on the Furniture and Fixture and the insurance. We need to calculate the interest for the month on the Bank loan. We also need to adjust this month’s depreciation, and finally we need to adjust the insurance expense for this month. This adjustment’s need to be made, so we can deduct the interest, depreciation, and insurance for the month.

Question 5

Closing Entries & Post to Ledger Accounts

The new ledger accounts that are required for our closing entries are Income Summary and Retained Earnings, we need this entries so we can close Sales, Cost of Sold and all the expenses accounts.

ACCT 525 Week 1 Assignment The Case of Phar-Mor Inc

Read “The Case of Phar-Mor Inc.” which can be accessed through the DeVry online library. In 3-4 pages (12-pt type, double-spaced) summarize the case and answer the following questions:

1.Could SOX have prevented the Phar-Mor fraud? How? Which specific sections of SOX?

2. Research the Waste Management scandal from the late 1990’s. Describe the scandal. Could SOX have prevented this scandal?

3. Research the Enron scandal from the early 2000’s. Describe the scandal. Could SOX have prevented this scandal?