# ACCOUNTING

posted by .

THE NET INCOME OF SIMON AND HOBBS, A DEPT.STORE,DECREASED SHARPLY DURING 2000.CAROL SIMON, OWNER OF THE STORE, ANTICIPATES THE NEED FOR A BANK LOAN IN 2001. lATE IN 2000, SIMON INSTRUCTS THE STORE'S ACCOUNTANT TO RECORD A 410,000 SALE OF FURNITURE TO THE SIMON FAMILY, EVEN THOUGH THE GOODS WILL NOT BE SHIPPED FROM THE MANUFACTURER UNTIL jAN. 2001. SIMON TELLS THE ACCOUNTNAT NOT TO MAKE THE FOLLOWING DEC. 31, 2000 ADJUSTING ENTRIES: SALARIE OWED TO EMPLOYESS \$900, PREPAID INS. EXPIRED \$400. wHY IS SIMON TAKING THIS ACTION? iS HER ACTION ETHICAL? GIVE REASON, IDENTIFYING THE PARTIES HELPED AND THE PARTIES HARMED BY SIMON'S ACTION.

• ACCOUNTING -

You needn't shout.

Her action is not ethical. The employees are harmed because they're losing \$900. I'm not sure about the rest, though.

## Similar Questions

1. ### Accounting

Why is Simon taking this action? Is her action ethical?
2. ### Accounting

Why is Simon taking this action? Is her action ethical?
3. ### math word problem

Simon arrived at work at 8:15am anf left work at 10:30pm. If Simon gets paid by the hour at a rate of \$10 and time and 1/2 for any hours worked over 8 in a day, how much did Simon get paid?
4. ### accounting

Can someone tell me how to figure this out?
5. ### Accounting Math

This is not homework i already got it wrong without an explanation. On June 30, 2007, Simon Company discounted a customerâ€™s \$180,000, 6-month, and 10 percent note receivable dated April 30, 2007. A discount rate of 12 percent was …
6. ### Maths

Help me pls.. Lili gave 1/4 of her money to Simon. Then Simon gave 1/5 of whatever money he had then to Lili. Later Lili decided to give 1/3 of whatever money she had then to Simon. Finally, Lili had \$688 and Simon had \$872. How much …
7. ### math

simon added \$4.50 to the money in his bank. then his father agreed to double simon's money, which gave him \$33. how much money did simon have to begin with?