Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
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: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Jul 2017 My Price 5.00

Carl Montague

Ever since he was a kid, Carl Montague wanted to be a pro football player. When that didn’t work out, he found another way to channel his natural competitive spirit: He bought a small auto parts store in Kentucky that was deep in red ink (negative earnings). At the end of the year, he created ?oghost?? inventory by recording fake inventory purchases. He offset these transactions by ?oadjustments?? to Cost of goods sold, thereby boosting profit and strengthening the balance sheet. Fortified with great financials, he got bank loans that allowed him to build up a regional chain of stores, buy a local sports franchise, and take on the lifestyle of a celebrity. When the economy in the region tanked, he could no longer cover his losses with new debt or equity infusions, and the whole empire fell like a house of cards.
Requirements
1. Name several parties that could have been hurt by the actions of Carl Montague.
2. What kind of adjustment to Cost of goods sold (debit or credit) would have the effect of boosting earnings?

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Jul 2017 10:07 PM My Price 5.00

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