Write a 350- to 700-word article analysis in which you identify situations that might lead to unethical practices and behavior in accounting.
Examine the effect of the Sarbanes-Oxley Act of 2002 on financial statements.
Cite one article from the Electronic Reserve Readings, the Internet, or other resources.
Formatyour paper consistent with APA guidelines.
Discuss the objectives for Week Four. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.
Write a 350- to 1,050-word summary of the team’s discussion.
ACC 291 Week 4 Individual Exercise E 11-15, E12-1, E12-2,Problem P11-6A
ACC291 Week3 Individual Exercise E 10-6, E 10-8, E 10-18,Problem P10-3A, P10-6A!
Week Three Exercise Assignment
Inventory
1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
Painting
Cost
1/2 Beginning inventory
Woods
$21,000
4/19 Purchase
Sunset
21,800
6/7 Purchase
Earth
31,200
12/16 Purchase
Moon
4,000
Woods and Moon were sold during the year for a total of $35,000. Determine the firm’s
a. cost of goods sold.
b. gross profit.
c. ending inventory.
2. Inventory valuation methods: basic computations. The January beginning inventory of the White Company consisted of 300 units costing $40 each. During the first quarter, the company purchased two batches of goo
ACC 205 Week 4 Exercise Assignment - Liability
1.
Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing:
- Social Security taxes: 4% on the first $55,000 earned per employee
- Medicare taxes: 1.5% on the first $130,000 earned per employee
- Federal income taxes withheld from wages: $7,500
- State income taxes: 4% of gross earnings
- Insurance withholdings: 1% of gross earnings
- State unemployment taxes: 5.4% on the first $7,000 earned per employee
- Federal unemployment taxes: 0.8% on the first $7,000 earned per employee
The company incurred a salary expense of $50,000 during February. All employees had earned less than $5,000 by month-end and no wages have been paid during the month.
a. Prepare the necessary entry to r
ACC 205 Week 4 Exercise Assignment - Liability
1.
Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing:
- Social Security taxes: 4% on the first $55,000 earned per employee
- Medicare taxes: 1.5% on the first $130,000 earned per employee
- Federal income taxes withheld from wages: $7,500
- State income taxes: 4% of gross earnings
- Insurance withholdings: 1% of gross earnings
- State unemployment taxes: 5.4% on the first $7,000 earned per employee
- Federal unemployment taxes: 0.8% on the first $7,000 earned per employee
The company incurred a salary expense of $50,000 during February. All employees had earned less than $5,000 by month-end and no wages have been paid during the month.
a. Prepare the necessary entry to r
