Business, 25.12.2019 01:31 Qwerty2771

Nicole martins is the controller at umc corp., a publicly-traded manufacturing company. last year, umc had annual sales revenue of $15 million. the first quarter of this year just ended, and nicole needs to prepare a trial balance so she can prepare the quarterly financial statements. however, trial balance is out of balance by $750 (credits exceed debits).

nicole is running out of time as the report is due today! therefore, she decides to balance by plugging the $750 into the equipment account. she chose the equipment account because it has the largest account balance. therefore, with the $750 added, it will be the least-misstated account.

identify the stakeholders in the case.

explain the ethical issues the case involves.

if you were nicole, what would you do?

respond to two or more of your classmates’ postings in any of the following ways:

build on something your classmate said

explain why and how you see things differently

ask a probing or clarifying question

share an insight from having read your classmate’s posting

offer and support an opinion

expand on your classmate’s posting.

refer to the discussion grading rubric for more information on expectations of class discussions

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Answer from: psychocatgirl1

Consider the following explanation

Explanation:

The stakeholders are as follows:

1)Investors-shareholders

2)Regulatory bodies

3)Creditors and financial institutions

4)Employees

5)Customers etc.

6)Management

2)There is a mistatement in the accounts of the company due to such an adjustment.This is due to improper recording of the transactions of the company in some stage such as ledger posting or trial balance preparation.The accountant should have taken utmost care and attention while excercising their duties since the financil statements of the company represents its financial health and a variety of stakkeholders mentioed above rely upon it for their decision making.

Here ,since the amount is very low,it is not much material,but correct balancing of trial balance would only imply arithmethical accuracy.So checks must be made regarding other concepts such as principles applied and accounting policies followed.

3)I would have rechecked the work again with utmost care to identify the mistake and correct them,rather than providing wrong information. Also I may delegate the checking to a qualified employee to review the same.

Answer from: Quest

explanation:

well obviously you must be dumb if you dont noe dat

Answer from: Quest

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?

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Nicole martins is the controller at umc corp., a publicly-traded manufacturing company. last year, u...

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