Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 307 Weeks Ago, 5 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 18 Jan 2018 My Price 9.00

Happy Trails, Inc

Happy Trails, Inc., is a popular family resort just outside Yellowstone National Park. Summer is the resort’s busy season, but guests typically pay a deposit at least six months in advance to guar- antee their reservations.

The resort is currently seeking new investment capital in order to expand operations. The more profitable Happy Trails appears to be, the more interest it will generate from potential investors. Ed Grimm, an accountant employed by the resort, has been asked by his boss to include $2 million of unearned guest deposits in the computation of income for the current year. Ed explained to his boss that because these deposits had not yet been earned they should be reported in the balance sheet as liabilities, not in the income statement as revenue. Ed argued that reporting guest deposits as revenue would inflate the current year’s income and may mislead investors.

Ed’s boss then demanded that he include $2 million of unearned guest deposits in the computa- tion of income or be fired. He then told Ed in an assuring tone, “Ed, you will never be held respon- sible for misleading potential investors because you are just following my orders.”

 

Instructions

Should Ed Grimm be forced to knowingly overstate the resort’s income in order to retain his job? Is Ed’s boss correct in saying that Ed cannot be held responsible for misleading potential investors? Discuss.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Jan 2018 11:01 PM My Price 9.00

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