ACC 206 Week 5 Chapter 23 P 23-28A

 This paperwork includes ACC 206 Week 1 DQ 1 Ethical Issue


 Stan Sewell paid $50,000 to have a business which allowed him to market software applications in the countries of the European Union. Sewell planned to sell individual companies for the main language groups of Western Europe-German, French, English, Spanish, as well as Italian. Obviously, investors thinking about buying a company from Sewell asked to see the financial statements of his organization. Supposing the price of the company to be $500,000, Sewell wanted to capitalize his own company at $500,000. The law company of St. Charles LaDue assisted Sewell create a corporation chartered to issue 500,000 shares of common share with par value of $1 for each share. Lawyers recommended the following series of dealings: a. Sewell's relative, Bob, borrows $500,000 from a bank and buys the company from Sewell. b. Sewell pays the corporation $500,000 to get all its shares. c. The corporation purchases the company from Cousin Bob. d. Cousin Bob repays the $500,000 loan to the bank. In the bottom line, Cousin Bob is debt-free and away from the picture. Sewell has all the corporation's shares, and the corporation has the franchise. The corporation's balance sheet lists a franchise purchased for $500,000. This balance sheet is Sewell's most effective marketing strategy. Requirements 1. What is unethical about this situation? 2. Who can be harmed? How can they be harmed? What role does accounting play?

Business - General Business
 ACC306: Intermediate Accounting II

 Week 1

 Required Readings

 a. Chapter 12: Investments

 b. Chapter 13: Current Liabilities and Contingencies

 Discussions

 Equity Method. Complete P12-13 from Chapter 12. Post the answers to the discussion board by Day 3.

 Loss Contingency and Full Disclosure. Complete Judgment Case 13-9 from Chapter 13.

 Quiz

 Assignments

 1. Due by Day 7. Week 1 Exercises. Complete these problems and turn them in via the dropbox: P12-1, P12-7, P12-10, P12-14, E13-21, E13-22, and P13-6.

 Week 2

 Required Readings

 a. Chapter 14: Bonds and Long-Term Notes

 b. Chapter 15: Leases

 Discussions

 1. 1st Posting Due by Day 3. Debt for Equity Swaps. Complete Ethics Case 14-8 from Chapter 14 and post the answers to the discussion board by Day 3.

 2. 1st Posting Due by Day 3. Leasehold Improvements. Complete Ethics Case 15-4 from Chapter 15 and post the answers to the discussion board by Day 3.

 Quiz

 Assignments

 1. Due by Day 7. Week 2 Exercises. Complete these problems and turn them in via the dropbox: E14-18, E14-16, P14-21, E15-25, and P15-3.

 Week 3

 Required Readings

 a. Chapter 16: Accounting for Income Taxes

 b. Chapter 17: Pensions and Other Postretirement Benefits

 Discussions

 1. 1st Posting Due by Day 3. Accounting Changes and Error Correction. From Chapter 16 complete Integrating Case 16-5 and post the answers to the discussion board by Day 3.

 2. 1st Posting Due by Day 3. 401(k) plan contributions. From Chapter 17 complete Ethics Case 17-6 and post the answers to the discussion board by Day 3.

 Quiz

 Assignments

 1. Due by Day 7. Week 3 Exercises. Complete these problems and turn them in via the dropbox: E16-24, E16-25, P16-7, E17-10, E17-19, and P17-16.

 Week 4

 Required Readings

 a. Chapter 18: Shareholders’ Equity

 b. Chapter 19: Share-Based Compensation and Earnings Per Share


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