1 page response:
Part 1: Describe the purpose of a Trial Balance and the steps of how to prepare a Trial Balance.
Part 2: Meredith Ward is the assistant chief accountant at Frazier 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. Meredith 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, Meredith decides to force the debits and credits into balance by adding the amount of the difference to the Equipment account. She chooses Equipment because it is one of the larger account balances; percentage-wise, it will be the least misstated. Meredith “plugs” the difference! She believes that the difference 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.
Answer the following questions:
- Who are the stakeholders in this situation?
- What are the ethical issues involved in this case?
- What are Meredith’s alternatives?
Our order form provides entries for your order information such as the deadline, number of pages or words required, the level of assignment, and the subject area. Kindly provide your writer with as much information as you deem necessary for maximum output. Once you confirm that all the necessary details are presented, confirm the quotation and continue.
Proceed to checkout and complete payment for your order. The assigned writer will receive a notification and begin working on your assignment immediately. We do not reveal your personal details to anyone.
All our writers are highly skilled in various fields. We have a library of resources that are put in to developing your essays during the writing process. You can keep track of the progress by chatting with the writer or support.
Login to your account and click ‘completed’ tab on the left to download your paper.