Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 5 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 08 Aug 2017 My Price 7.00

Grant Film Productions

Grant Film Productions wishes to expand and has borrowed $100,000. As a condition for making this loan, the bank requires that the business maintain a current ratio of at least 1.50.

 

Business has been good but not great. Expansion costs have brought the current ratio down to 1.40 on December 15. Rita Grant, owner of the business, is considering what might happen if she reports a current ratio of 1.40 to the bank. One course of action for Grant is to record in December $10,000 of revenue that the business will earn in January of next year. The contract for this job has been signed.

 

Requirements

 

1. Journalize the revenue transaction, and indicate how recording this revenue in December would affect the current ratio.

 

2. Discuss whether it is ethical to record the revenue transaction in December. Identify the accounting principle relevant to this situation, and give the reasons underlying your conclusion.

Instructions:Your initial response should be no less than 250 words. Reply to at least two of your classmates. Replies to classmates should be a minimum of 100 words and include direct questions. In-text citations and references may be in APA format but is NOT required

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Aug 2017 08:08 PM My Price 7.00

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