Business, 05.10.2019 01:30 boweytom6217

Scenario: hart nance and jason symington operate gift boutiques in shopping malls. the partners split profits and losses equally, and each takes an annual drawing of $80,000. to even out the workload, nance travels around the country inspecting their properties. symington manages the business and serves as an accountant. from time to time, they use small amounts of store merchandise for personal use. in preparing for his daughter's wedding, symington took inventory that cost $10,000. he recorded the transactions as follows:

debit credit
cost of goods sold $10,000: debit
inventory $10,000: credit

respond to the following questions

how do you feel symington should have recorded these transactions? why?

what are the ethical implications of symington's actions?

Answers: 1

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Scenario: hart nance and jason symington operate gift boutiques in shopping malls. the partners spl...

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