Molly operates a gym. she sells memberships that entitle the member to use the facilities at any time. a one-year membership costs $360 ($360/12 = $30 per month); a two-year membership costs $600 ($600/24 = $25 per month). cash payment is required at the beginning of the membership period. on july 1, 2019, molly sold a one-year membership and a two-year membership.

i. if molly is a cash basis taxpayer, her 2015 gross income from the contracts is $960 ($360 + $600).
ii. if molly is an accrual basis taxpayer, her 2015 gross income from the contracts is $330 [(6/12 × $360) + (6/24× $600)].
iii. if molly is an accrual basis taxpayer, her 2016 gross income from the contracts is $630 [(6/12)($360) + $450]

a) only i is true.
b) only i and ii are true.
c) only ii and iii are true.
d) i, ii, and iii are true.
e) none of the above.

Each of the following scenarios is based on facts in anactual fraud. categorize each scenario as primarily indicating (1) anincentive to commit fraud, (2) an opportunity to commit fraud, or(3) a rationalization for committing fraud. also state your reasoningfor each scenario. a. there was intense pressure to keep the corporation ' stock from declining further. this pressure came from investors, analysts, and the ceo, whose financial well-being was significantly dependent on the corporation ' s stock price. b. a group of top-level management was compensated (mostly in the form of stock-options) well in excess of what would be considered normal for their positions in this industry. c. top management of the company closely guards internal financial information, to the extent that even some employees on a “need-to-know basis” are denied full access. d. managing specific financial ratios is very important to the company, and both management and analysts are keenly observant of variability in key ratios. key ratios for the company changed very little even though the ratios for the overall industry were quite volatile during the time period. e. in an effort to reduce certain accrued expenses to meet budget targets, the cfo directs the general accounting department to reallocate a division’s expenses by a significant amount. the general accounting department refuses to acquiesce to the request, but the journal entry is made trough the corporate office. an accountant in the general accounting department is uncomfortable with the journal entries required to reallocate divisional expenses. he brings his concerns to the cfo, who assures him that everything will be fine and that the entries are necessary. the accountant considers resigning, but he does not have another job lined up and is worried about supporting his family. therefore, he never voices his concerns to either the internal or external auditors. f. accounting records were either nonexistent or in a state of such disorganization that significant effort was required to locate or compile them.

Accounting! will give five star the bixby co. had the following transactions involving the purchase of merchandise. prepare the necessary general journal entries. any applicable freight costs are prepaid by the seller. the perpetual inventory method is in use. june 16 purchased merchandise having a price of 6,000 from the shelby manufacturing co. on account with credit terms 2/10, n/30. transportation terms fob destination. june 16 purchased merchandise having a price of 9,000 from the ajax supply house on account with credit terms 2/10, n/30. transportation terms fob shipping point. the freight costs were 175. june 17 received the goods from shelby june 17 received the goods from ajax june 20 returned for credit merchandise with an invoice price of 800 to ajax june 25 paid shelby the amount owed june 28 paid ajax the amount owed june 30 returned for cash, merchandise with an invoice price of 400 to shelby questions: prepare the necessary general journal entry for june 16, purchased merchandise having a price of 6000 from shelby manufacturing co prepare the necessary general journal entry for june 17, received goods from shelby merchandise inventory 6000 prepare the necessary general journal entry for june 25 prepare the necessary general journal entry for june 28

Baylaine is a company that sells affordable, low-end cell phones. baylaine's customers can register product or service complaints with the company through emails; the company's customer support team replies to customer queries and complaints within five hours of the receipt of an email. in the context of customer relationship management, baylaine most likely establishes with its customers.