SlideShare a Scribd company logo
Jennifer VanPelt is the assistant chief accountant at BIT Company, a manufacturer of computer
chips and cellular phones. The company presently has total sales of $20 million. It is the end of
the first quarter and Jennifer is hurriedly trying to prepare a trial balance so that quarterly
financial statements can be prepared and released to management and the regulatory agencies.
The total credits on the trial balance exceed the debits by $1,000. In order to meet the 4 p.m.
deadline, Jennifer decides to force the debits and credits into balance by adding the amount of
the difference to the Equipment account. She chose Equipment because it is one of the larger
account balances; percentage-wise it will be the least misstated. Jennifer plugs the difference!
She believes that the difference is quite small and will not affect anyone's decisions. She wishes
that she had another few days to find the error but realizes that the financial statements are
already late.
Instructions 1. Who are the stakeholders in this situation?
2. What ethical issues are involved?
3. What are Jennifer's alternatives?
Solution
Answer:1 . Stakeholders are the people who are affected by the decision. That would be Jennifer
VanPelt, her manager, the company, the shareholders, and whoever is in charge of the
Equipment account.
Answer:2 The ethical issue is malfeasance. If Jennifer VanPelt is dishonest even though it was
probably someone else's mistake, she is getting herself wrapped up in a problem and making it
worse. Plugging numbers means not only is the mistake going to remain, but now the Equipment
account is messed up, too.
Answer:3 Jennifer's first alternative would be to go to the chief accountant and point out the
discrepancy. Since the credits exceed the debits, this shouldn't be a big deal, because there isn't
any money missing. Her second alternative would be to ask for an extension due to the
discrepancy. The third alternative would just be to submit the numbers, even though they don't
balance, and say that it should only take a few days to find the problem.

More Related Content

Similar to Jennifer VanPelt is the assistant chief accountant at BIT Company, a.pdf

InstructionsCookie Creations (Continued)Part INatalie is.docx
InstructionsCookie Creations (Continued)Part INatalie is.docxInstructionsCookie Creations (Continued)Part INatalie is.docx
InstructionsCookie Creations (Continued)Part INatalie is.docx
maoanderton
 
Case Study Conflicting ClientsTopic Auditing (Confidential.docx
Case Study Conflicting ClientsTopic Auditing (Confidential.docxCase Study Conflicting ClientsTopic Auditing (Confidential.docx
Case Study Conflicting ClientsTopic Auditing (Confidential.docx
zebadiahsummers
 
Lessons on fraud awareness-PART-II
Lessons on fraud awareness-PART-IILessons on fraud awareness-PART-II
Lessons on fraud awareness-PART-II
CA.Kolluru Narayanarao
 
Lessons on fraud awareness part-ii
Lessons on fraud awareness part-iiLessons on fraud awareness part-ii
Lessons on fraud awareness part-ii
Kolluru N Rao
 
Pay Someone Write Essay
Pay Someone Write EssayPay Someone Write Essay
Pay Someone Write Essay
Katy Shaw
 
Key Insights from the 2019 Legal Trends Report
Key Insights from the 2019 Legal Trends ReportKey Insights from the 2019 Legal Trends Report
Key Insights from the 2019 Legal Trends Report
Clio - Cloud-Based Legal Technology
 
AssignmentScenarioAs a security administrator for Always Fresh
AssignmentScenarioAs a security administrator for Always FreshAssignmentScenarioAs a security administrator for Always Fresh
AssignmentScenarioAs a security administrator for Always Fresh
arleanemlerpj
 
Group 3 presentation
Group 3 presentationGroup 3 presentation
Group 3 presentation
Zack T
 
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
Jroberts731
 
10 Medical billing reports every medical practice needs!
10 Medical billing reports every medical practice needs!10 Medical billing reports every medical practice needs!
10 Medical billing reports every medical practice needs!
Billingparadise- A California based revenue cycle management and EHR support Company
 
Note I need 2 pages paper addressing the provided details. Please.docx
Note I need 2 pages paper addressing the provided details. Please.docxNote I need 2 pages paper addressing the provided details. Please.docx
Note I need 2 pages paper addressing the provided details. Please.docx
darwinming1
 
Bad credit payday loans
Bad credit payday loansBad credit payday loans
Bad credit payday loans
shantanu pramanik
 
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docxRegulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
debishakespeare
 
Discussion 1Small Business RiskTanyas Toy Shop is a sma
Discussion 1Small Business RiskTanyas Toy Shop is a smaDiscussion 1Small Business RiskTanyas Toy Shop is a sma
Discussion 1Small Business RiskTanyas Toy Shop is a sma
huttenangela
 
I. ProblemOn September 8, 2016 Federal Regulators announced that.docx
I. ProblemOn September 8, 2016 Federal Regulators announced that.docxI. ProblemOn September 8, 2016 Federal Regulators announced that.docx
I. ProblemOn September 8, 2016 Federal Regulators announced that.docx
wilcockiris
 
uestion 1 (1 point)What would be the value of a savings accoun.docx
uestion 1 (1 point)What would be the value of a savings accoun.docxuestion 1 (1 point)What would be the value of a savings accoun.docx
uestion 1 (1 point)What would be the value of a savings accoun.docx
willcoxjanay
 
Please answer all the questions QUESTION 1 How has the .pdf
Please answer all the questions  QUESTION 1 How has the .pdfPlease answer all the questions  QUESTION 1 How has the .pdf
Please answer all the questions QUESTION 1 How has the .pdf
abdulauto
 
Negligence Essay: A Car Accident
Negligence Essay: A Car AccidentNegligence Essay: A Car Accident
Negligence Essay: A Car AccidentAli Osman Öncel
 
14 05-17 the most common flaws in estate planning
14 05-17 the most common flaws in estate planning14 05-17 the most common flaws in estate planning
14 05-17 the most common flaws in estate planning
Bruce Givner
 
Real Estate Agents: 7 No-Brainers to Improve Your Client Experiece
Real Estate Agents: 7 No-Brainers to Improve Your Client ExperieceReal Estate Agents: 7 No-Brainers to Improve Your Client Experiece
Real Estate Agents: 7 No-Brainers to Improve Your Client Experiece
GetUpdater
 

Similar to Jennifer VanPelt is the assistant chief accountant at BIT Company, a.pdf (20)

InstructionsCookie Creations (Continued)Part INatalie is.docx
InstructionsCookie Creations (Continued)Part INatalie is.docxInstructionsCookie Creations (Continued)Part INatalie is.docx
InstructionsCookie Creations (Continued)Part INatalie is.docx
 
Case Study Conflicting ClientsTopic Auditing (Confidential.docx
Case Study Conflicting ClientsTopic Auditing (Confidential.docxCase Study Conflicting ClientsTopic Auditing (Confidential.docx
Case Study Conflicting ClientsTopic Auditing (Confidential.docx
 
Lessons on fraud awareness-PART-II
Lessons on fraud awareness-PART-IILessons on fraud awareness-PART-II
Lessons on fraud awareness-PART-II
 
Lessons on fraud awareness part-ii
Lessons on fraud awareness part-iiLessons on fraud awareness part-ii
Lessons on fraud awareness part-ii
 
Pay Someone Write Essay
Pay Someone Write EssayPay Someone Write Essay
Pay Someone Write Essay
 
Key Insights from the 2019 Legal Trends Report
Key Insights from the 2019 Legal Trends ReportKey Insights from the 2019 Legal Trends Report
Key Insights from the 2019 Legal Trends Report
 
AssignmentScenarioAs a security administrator for Always Fresh
AssignmentScenarioAs a security administrator for Always FreshAssignmentScenarioAs a security administrator for Always Fresh
AssignmentScenarioAs a security administrator for Always Fresh
 
Group 3 presentation
Group 3 presentationGroup 3 presentation
Group 3 presentation
 
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
Intercultural Sales Cycles by Jennifer Roberts - Coming to Kiev and Lviv!
 
10 Medical billing reports every medical practice needs!
10 Medical billing reports every medical practice needs!10 Medical billing reports every medical practice needs!
10 Medical billing reports every medical practice needs!
 
Note I need 2 pages paper addressing the provided details. Please.docx
Note I need 2 pages paper addressing the provided details. Please.docxNote I need 2 pages paper addressing the provided details. Please.docx
Note I need 2 pages paper addressing the provided details. Please.docx
 
Bad credit payday loans
Bad credit payday loansBad credit payday loans
Bad credit payday loans
 
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docxRegulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
Regulatory Complaints Case ScenariosMFCC552 Version 21Uni.docx
 
Discussion 1Small Business RiskTanyas Toy Shop is a sma
Discussion 1Small Business RiskTanyas Toy Shop is a smaDiscussion 1Small Business RiskTanyas Toy Shop is a sma
Discussion 1Small Business RiskTanyas Toy Shop is a sma
 
I. ProblemOn September 8, 2016 Federal Regulators announced that.docx
I. ProblemOn September 8, 2016 Federal Regulators announced that.docxI. ProblemOn September 8, 2016 Federal Regulators announced that.docx
I. ProblemOn September 8, 2016 Federal Regulators announced that.docx
 
uestion 1 (1 point)What would be the value of a savings accoun.docx
uestion 1 (1 point)What would be the value of a savings accoun.docxuestion 1 (1 point)What would be the value of a savings accoun.docx
uestion 1 (1 point)What would be the value of a savings accoun.docx
 
Please answer all the questions QUESTION 1 How has the .pdf
Please answer all the questions  QUESTION 1 How has the .pdfPlease answer all the questions  QUESTION 1 How has the .pdf
Please answer all the questions QUESTION 1 How has the .pdf
 
Negligence Essay: A Car Accident
Negligence Essay: A Car AccidentNegligence Essay: A Car Accident
Negligence Essay: A Car Accident
 
14 05-17 the most common flaws in estate planning
14 05-17 the most common flaws in estate planning14 05-17 the most common flaws in estate planning
14 05-17 the most common flaws in estate planning
 
Real Estate Agents: 7 No-Brainers to Improve Your Client Experiece
Real Estate Agents: 7 No-Brainers to Improve Your Client ExperieceReal Estate Agents: 7 No-Brainers to Improve Your Client Experiece
Real Estate Agents: 7 No-Brainers to Improve Your Client Experiece
 

More from ahalyak3

Jeff typically makes 75 of his field goals. Steve typically makes 5.pdf
Jeff typically makes 75 of his field goals. Steve typically makes 5.pdfJeff typically makes 75 of his field goals. Steve typically makes 5.pdf
Jeff typically makes 75 of his field goals. Steve typically makes 5.pdf
ahalyak3
 
Jean the business owner has received notice that Paul the Potential .pdf
Jean the business owner has received notice that Paul the Potential .pdfJean the business owner has received notice that Paul the Potential .pdf
Jean the business owner has received notice that Paul the Potential .pdf
ahalyak3
 
Jim Smith has worked for the ABC Insurance Company for the past twen.pdf
Jim Smith has worked for the ABC Insurance Company for the past twen.pdfJim Smith has worked for the ABC Insurance Company for the past twen.pdf
Jim Smith has worked for the ABC Insurance Company for the past twen.pdf
ahalyak3
 
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdf
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdfJill has a swimming pool in her backyard. It is shaped like a rectan.pdf
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdf
ahalyak3
 
Java - a mergeSort algorithm using arraylists or arraysSolution.pdf
Java - a mergeSort algorithm using arraylists or arraysSolution.pdfJava - a mergeSort algorithm using arraylists or arraysSolution.pdf
Java - a mergeSort algorithm using arraylists or arraysSolution.pdf
ahalyak3
 
Janie graduates from high school in 2014 and enrolls in college in t.pdf
Janie graduates from high school in 2014 and enrolls in college in t.pdfJanie graduates from high school in 2014 and enrolls in college in t.pdf
Janie graduates from high school in 2014 and enrolls in college in t.pdf
ahalyak3
 
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdfJames placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
ahalyak3
 
Jane is a tax consultant whose clients visit her office following a .pdf
Jane is a tax consultant whose clients visit her office following a .pdfJane is a tax consultant whose clients visit her office following a .pdf
Jane is a tax consultant whose clients visit her office following a .pdf
ahalyak3
 
It is possible for the regression equation to have none of the actua.pdf
It is possible for the regression equation to have none of the actua.pdfIt is possible for the regression equation to have none of the actua.pdf
It is possible for the regression equation to have none of the actua.pdf
ahalyak3
 
It is thought that prehistoric Indians did not take their best tools.pdf
It is thought that prehistoric Indians did not take their best tools.pdfIt is thought that prehistoric Indians did not take their best tools.pdf
It is thought that prehistoric Indians did not take their best tools.pdf
ahalyak3
 
It was hypothesized that sensory deprivation inhibits the intellectu.pdf
It was hypothesized that sensory deprivation inhibits the intellectu.pdfIt was hypothesized that sensory deprivation inhibits the intellectu.pdf
It was hypothesized that sensory deprivation inhibits the intellectu.pdf
ahalyak3
 
It is obvious that Taila values her privacy as she rarely talks abou.pdf
It is obvious that Taila values her privacy as she rarely talks abou.pdfIt is obvious that Taila values her privacy as she rarely talks abou.pdf
It is obvious that Taila values her privacy as she rarely talks abou.pdf
ahalyak3
 
Its a hot summer day in the Central Valley. Two children Alice and.pdf
Its a hot summer day in the Central Valley. Two children Alice and.pdfIts a hot summer day in the Central Valley. Two children Alice and.pdf
Its a hot summer day in the Central Valley. Two children Alice and.pdf
ahalyak3
 
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdfJack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
ahalyak3
 

More from ahalyak3 (14)

Jeff typically makes 75 of his field goals. Steve typically makes 5.pdf
Jeff typically makes 75 of his field goals. Steve typically makes 5.pdfJeff typically makes 75 of his field goals. Steve typically makes 5.pdf
Jeff typically makes 75 of his field goals. Steve typically makes 5.pdf
 
Jean the business owner has received notice that Paul the Potential .pdf
Jean the business owner has received notice that Paul the Potential .pdfJean the business owner has received notice that Paul the Potential .pdf
Jean the business owner has received notice that Paul the Potential .pdf
 
Jim Smith has worked for the ABC Insurance Company for the past twen.pdf
Jim Smith has worked for the ABC Insurance Company for the past twen.pdfJim Smith has worked for the ABC Insurance Company for the past twen.pdf
Jim Smith has worked for the ABC Insurance Company for the past twen.pdf
 
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdf
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdfJill has a swimming pool in her backyard. It is shaped like a rectan.pdf
Jill has a swimming pool in her backyard. It is shaped like a rectan.pdf
 
Java - a mergeSort algorithm using arraylists or arraysSolution.pdf
Java - a mergeSort algorithm using arraylists or arraysSolution.pdfJava - a mergeSort algorithm using arraylists or arraysSolution.pdf
Java - a mergeSort algorithm using arraylists or arraysSolution.pdf
 
Janie graduates from high school in 2014 and enrolls in college in t.pdf
Janie graduates from high school in 2014 and enrolls in college in t.pdfJanie graduates from high school in 2014 and enrolls in college in t.pdf
Janie graduates from high school in 2014 and enrolls in college in t.pdf
 
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdfJames placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
James placed $7,500 in a certificate of deposit (CD) at his local ba.pdf
 
Jane is a tax consultant whose clients visit her office following a .pdf
Jane is a tax consultant whose clients visit her office following a .pdfJane is a tax consultant whose clients visit her office following a .pdf
Jane is a tax consultant whose clients visit her office following a .pdf
 
It is possible for the regression equation to have none of the actua.pdf
It is possible for the regression equation to have none of the actua.pdfIt is possible for the regression equation to have none of the actua.pdf
It is possible for the regression equation to have none of the actua.pdf
 
It is thought that prehistoric Indians did not take their best tools.pdf
It is thought that prehistoric Indians did not take their best tools.pdfIt is thought that prehistoric Indians did not take their best tools.pdf
It is thought that prehistoric Indians did not take their best tools.pdf
 
It was hypothesized that sensory deprivation inhibits the intellectu.pdf
It was hypothesized that sensory deprivation inhibits the intellectu.pdfIt was hypothesized that sensory deprivation inhibits the intellectu.pdf
It was hypothesized that sensory deprivation inhibits the intellectu.pdf
 
It is obvious that Taila values her privacy as she rarely talks abou.pdf
It is obvious that Taila values her privacy as she rarely talks abou.pdfIt is obvious that Taila values her privacy as she rarely talks abou.pdf
It is obvious that Taila values her privacy as she rarely talks abou.pdf
 
Its a hot summer day in the Central Valley. Two children Alice and.pdf
Its a hot summer day in the Central Valley. Two children Alice and.pdfIts a hot summer day in the Central Valley. Two children Alice and.pdf
Its a hot summer day in the Central Valley. Two children Alice and.pdf
 
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdfJack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
Jack Hall is home to the Math Department. In 140 trips on the Jack H.pdf
 

Recently uploaded

2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
Sandy Millin
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Dr. Vinod Kumar Kanvaria
 
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
IreneSebastianRueco1
 
PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.
Dr. Shivangi Singh Parihar
 
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat  Leveraging AI for Diversity, Equity, and InclusionExecutive Directors Chat  Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
TechSoup
 
Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
amberjdewit93
 
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Ashish Kohli
 
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdfANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
Priyankaranawat4
 
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
RitikBhardwaj56
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
camakaiclarkmusic
 
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxChapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Mohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
deeptiverma2406
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Thiyagu K
 
Digital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion DesignsDigital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion Designs
chanes7
 
Biological Screening of Herbal Drugs in detailed.
Biological Screening of Herbal Drugs in detailed.Biological Screening of Herbal Drugs in detailed.
Biological Screening of Herbal Drugs in detailed.
Ashokrao Mane college of Pharmacy Peth-Vadgaon
 
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
Levi Shapiro
 
Lapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdfLapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdf
Jean Carlos Nunes Paixão
 
Azure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHatAzure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHat
Scholarhat
 
S1-Introduction-Biopesticides in ICM.pptx
S1-Introduction-Biopesticides in ICM.pptxS1-Introduction-Biopesticides in ICM.pptx
S1-Introduction-Biopesticides in ICM.pptx
tarandeep35
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
heathfieldcps1
 

Recently uploaded (20)

2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...2024.06.01 Introducing a competency framework for languag learning materials ...
2024.06.01 Introducing a competency framework for languag learning materials ...
 
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...
 
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
 
PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.PCOS corelations and management through Ayurveda.
PCOS corelations and management through Ayurveda.
 
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat  Leveraging AI for Diversity, Equity, and InclusionExecutive Directors Chat  Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
 
Digital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental DesignDigital Artefact 1 - Tiny Home Environmental Design
Digital Artefact 1 - Tiny Home Environmental Design
 
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
Aficamten in HCM (SEQUOIA HCM TRIAL 2024)
 
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdfANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
ANATOMY AND BIOMECHANICS OF HIP JOINT.pdf
 
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...The simplified electron and muon model, Oscillating Spacetime: The Foundation...
The simplified electron and muon model, Oscillating Spacetime: The Foundation...
 
CACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdfCACJapan - GROUP Presentation 1- Wk 4.pdf
CACJapan - GROUP Presentation 1- Wk 4.pdf
 
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxChapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
 
Best Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDABest Digital Marketing Institute In NOIDA
Best Digital Marketing Institute In NOIDA
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
 
Digital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion DesignsDigital Artifact 2 - Investigating Pavilion Designs
Digital Artifact 2 - Investigating Pavilion Designs
 
Biological Screening of Herbal Drugs in detailed.
Biological Screening of Herbal Drugs in detailed.Biological Screening of Herbal Drugs in detailed.
Biological Screening of Herbal Drugs in detailed.
 
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...
 
Lapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdfLapbook sobre os Regimes Totalitários.pdf
Lapbook sobre os Regimes Totalitários.pdf
 
Azure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHatAzure Interview Questions and Answers PDF By ScholarHat
Azure Interview Questions and Answers PDF By ScholarHat
 
S1-Introduction-Biopesticides in ICM.pptx
S1-Introduction-Biopesticides in ICM.pptxS1-Introduction-Biopesticides in ICM.pptx
S1-Introduction-Biopesticides in ICM.pptx
 
The basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptxThe basics of sentences session 5pptx.pptx
The basics of sentences session 5pptx.pptx
 

Jennifer VanPelt is the assistant chief accountant at BIT Company, a.pdf

  • 1. Jennifer VanPelt is the assistant chief accountant at BIT Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first quarter and Jennifer is hurriedly trying to prepare a trial balance so that quarterly financial statements can be prepared and released to management and the regulatory agencies. The total credits on the trial balance exceed the debits by $1,000. In order to meet the 4 p.m. deadline, Jennifer decides to force the debits and credits into balance by adding the amount of the difference to the Equipment account. She chose Equipment because it is one of the larger account balances; percentage-wise it will be the least misstated. Jennifer plugs the difference! She believes that the difference is quite small and will not affect anyone's decisions. She wishes that she had another few days to find the error but realizes that the financial statements are already late. Instructions 1. Who are the stakeholders in this situation? 2. What ethical issues are involved? 3. What are Jennifer's alternatives? Solution Answer:1 . Stakeholders are the people who are affected by the decision. That would be Jennifer VanPelt, her manager, the company, the shareholders, and whoever is in charge of the Equipment account. Answer:2 The ethical issue is malfeasance. If Jennifer VanPelt is dishonest even though it was probably someone else's mistake, she is getting herself wrapped up in a problem and making it worse. Plugging numbers means not only is the mistake going to remain, but now the Equipment account is messed up, too. Answer:3 Jennifer's first alternative would be to go to the chief accountant and point out the discrepancy. Since the credits exceed the debits, this shouldn't be a big deal, because there isn't any money missing. Her second alternative would be to ask for an extension due to the discrepancy. The third alternative would just be to submit the numbers, even though they don't balance, and say that it should only take a few days to find the problem.