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  • Can Wages Payable Be Deferred To Make The Financial Statements

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    Muhammad Shahid
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    A computer hardware store owner hired a new accountant in early December to clean up the books and prepare financial statements to apply for a bank loan. At the end of December, the owner asked the accountant not to record the sales force's wages for the month, which would not be paid until mid-January, in order to make the financial statements look better for the loan officer. The accountant must determine whether deferring wages payable to manipulate the financial statements would be appropriate.

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    Can Wages Payable Be Deferred to Make the Financial Statements

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    A computer hardware store owner hired a new accountant in early December to clean up the books and prepare financial statements to apply for a bank loan. At the end of December, the owner asked the accountant not to record the sales force's wages for the month, which would not be paid until mid-January, in order to make the financial statements look better for the loan officer. The accountant must determine whether deferring wages payable to manipulate the financial statements would be appropriate.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views1 page

    Can Wages Payable Be Deferred To Make The Financial Statements

    Uploaded by

    Muhammad Shahid
    A computer hardware store owner hired a new accountant in early December to clean up the books and prepare financial statements to apply for a bank loan. At the end of December, the owner asked the accountant not to record the sales force's wages for the month, which would not be paid until mid-January, in order to make the financial statements look better for the loan officer. The accountant must determine whether deferring wages payable to manipulate the financial statements would be appropriate.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Can wages payable be deferred to make the financial

    statements #6188
    Can wages payable be deferred to make the financial statements look better?It is early
    December and you have just been hired as an accountant for a local computer hardware store.
    Business is expanding due to the increased number of sales reps your boss just hired. Your
    boss is excited about expanding the business into other nearby communities, but will need a
    loan from the bank to do so. He has hired you to clean up the books and get the company's
    financial information ready so he can present it to the bank's loan officer after the first of the
    year. On December 30, your boss asks you not to record the sales force's wages for the month
    of December because he won't be able to pay them until mid- January. He wants the financial
    statements to be in good shape when he visits the loan officer. What should you do?View
    Solution:
    Can wages payable be deferred to make the financial statements

    ANSWER
    http://paperinstant.com/downloads/can-wages-payable-be-deferred-to-make-the-financial-
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