Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. your new warehouse will open in two days. everythi

Your new warehouse will open in two days. Everything is going smoothly. BUT THEN, a...

50.1K

Verified Solution

Question

Accounting

Your new warehouse will open in two days. Everything is going smoothly. BUT THEN, a person with a badge walks in and tells your boss that your warehouse has various code violations and your application for an operating permit to the local government has been denied. HOWEVER, the person tells your boss that if the company hires a specific person as its agent to negotiate with the local government, everything can be fixed and the warehouse will open on time.

Your boss pretends to agree with the person with the badge, gives a small sum of cash to the person, and tells the person that the agent will be paid later

Your boss did not intend to pay the agent mentioned by the person with the badge, did not seek approval for the payment, and no payment is ever made to the agent

Your boss has the small cash payment to the person with the badge entered on the books and records as a charitable contribution by the company

Your warehouse opens on schedule.

1. Issues?

2. What should you do?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

If a tree flowers thrice in a year (Oct., Jan. and July) in Northern India, it...

Physics
1.2K views

Show that if the acceleration is always perpendicular to the speed, the speed is constant.

General Management
1.2K views

Your QA team that has prescribed a set of procedures to be followed by the project...

Accounting
1.2K views

Which of the following is a reason why a company might sell its receivables?...

Accounting
1.2K views

Carlos Cavalas, the manager of Echo Products' Brazilian Division, is trying to set the production...

Accounting
1.2K views

help please with formulas, rather than simply putting the numbers. ...

Accounting
1.2K views

NEED help filling these in based off of Walmart and Targets 10k forms from 2020...

Accounting
1.2K views

Cholla Company's standard fixed overhead rate is based on budgeted fixed manufacturing overhead of $11,800...

Accounting
1.2K views

Mod 18.1: Shirt Company purchased 3 shirts in the following order at the noted unit...

Accounting
1.2K views

how to do it? Support Department Cost Allocation-Direct Method Christmas Timber, Inc., produces Christmas...

Accounting
1.2K views

For the 2015 tax year how do you calculate depreciation on Form 4562 for lthe...

Accounting
1.2K views

Financial information is presented below: Gross profit would be $59000. $65000