You and Kristy devise a plan to develop an empty parcel of real estate on the south side of Chicago. The development consists of a 400 unit complex comprised of apartments for medium income occupants. The investment requires a down payment of $500,000. A little short on money, you approach your cousin Jimmy who happens to own a fitness center across the street from the potential development and ask to borrow $100,000 to satisfy the down payment. Your sales pitch to Jimmy is that, if the development goes through, then he'll have an influx of new customers, but you don't offer to make Jimmy part of the development deal. You convince Jimmy to let you borrow the $100,000. Ecstatic over the potential of new customers, Jimmy makes major improvements to his fitness center. Unfortunately, the deal falls through, but you still pay back the borrowed funds to Jimmy. Jimmy is now threatening to sue you and Kristy for the amount expended on his improvements. How do you explain the situation to Jimmy?

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest.the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed.what control allowed the fraud to occur?

Acompany determined that the budgeted cost of producing a product is $30 per unit. on june 1, there were 80,000 units on hand, the sales department budgeted sales of 300,000 units in june, and the company desires to have 120,000 units on hand on june 30. the budgeted cost of goods sold for june would be

In a chapter 7 bankruptcy, a debtor: