Carlton Chemical Inc Fraud Case Study

Carlton Chemical Inc Fraud Case Study

Instructions/Descriptions

Carlton Chemical Inc Fraud Case Study

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The case analysis should be a minimum of 2 pages in length and double-spaced. Check for correct spelling, grammar, punctuation, mechanics, and usage. Citations with accompanying references should be in the 7th edition APA format and style.

Checklist:

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Summarize the main points of the case and applicability to the concepts discussed in the assigned textbook reading using your own words.

Evaluate the evidence to determine how they could have reduced fraud risk.

Demonstrate your understanding of the critical issues of the case integrating the material covered in the text and presenting concise and well-reasoned justifications for the stance that you take.

Respond using the 7th edition APA format incorporating scholarly resources and citations.

Check your spelling and grammar are correct.

Submit a Microsoft® Word® document using double spacing, 12-point Times New Roman or Arial font, one-inch margins, APA in-text citations, and an APA reference list. Page length requirements: 2 double-spaced pages, not counting the title page, appendices, and reference list page.

Accounting for Uncollectible Accounts Receivables

I’m studying for my accounting class and need an explanation.

Q1. How are the direct write-off method and the allowance method applied in accounting for uncollectible accounts receivables? Explain with examples (4 Marks)

Q2. Explain what is meant by depreciation

Describe the methods of depreciation and give a numerical example for each method (7 Marks)

Q3The following information is related to PQR company and XYZ company for the year 2013:

Both the companies belong to same industry. PQR is an old and well-established company where as XYZ is a new company. The historical data shows that the PQR has a stable annual dividend distribution to stockholders.

Required:

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Calculate dividend yield ratio of both the companies. Which company would you recommend for investment in shares? Explain with reasons. (5 Marks)

Q4.A company’s income statement for 2021 showed the following:

Net income, SR150, 000;

depreciation expense, SR20,000

– Changes in current assets and current liabilities:

Accounts receivable decreased SR20, 000

merchandise inventory increased 8,000

accounts payable increased 3,000.

Required: Prepare the operating activity section of the statement of cash flow using the indirect method. (5 Marks)

Q5. Why does the management of any companies analyze financial statements? Explain by using the different tools in analyzing financial statement with proper numerical example? (5 Marks)

Q6. a) Explain the methods that can estimate bad debt expenses in business. (Give numerical examples) (1 Mark)

b.) Differentiate between Accounts receivable and Notes receivable. (1 Mark)

1. c) On 1st of October 2019, XYZ Inc. has sold an equipment for SAR 25,000 to ABC Ltd.by issuing an 8% note receivable for 90 days. Calculate the interest on the note and on what would be the maturity date. Pass Journal entry in the books of the company to record these transactions. (2 Marks)
   

   Carlton Chemical Inc Fraud Case Study

   

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