The following information pertains to kingbird solar panels, inc.
july
1 sold $120,000 of solar panels to blossom company with terms 2/15, n/30. kingbird uses the gross method to record cash discounts. kingbird estimates allowances of $1,500 will be honored on this sale.
12 sold $80,000 of solar panels to ayayai corp. with terms of 3/10, n/60. kingbird expects no allowances related to this sale.
18 ayayai corp. paid kingbird for its july 12 purchase.
20 blossom calls to indicate that the panels purchased on july 1 work well, but the color is not quite right. kingbird grants a credit of $2,000 as compensation.
29 blossom company paid kingbird for its july 1 purchase.
31 kingbird expects allowances of $4,380 to be grated in the future related to solar panel sales in july.
prepare the necessary journal entries for kingbird.

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.

What are the forecasted levels of the line of credit and special dividends? (hints: create a column showing the ratios for the current year; then create a new column showing the ratios used in the forecast. also, create a preliminary forecast that doesn’t include any new line of credit or special dividends. identify the financing deficit or surplus in this preliminary forecast and then add a new column that shows the final forecast that includes any new line of credit or special dividend.) now assume that the growth in sales is only 3%. what are the forecasted levels of the line of credit and special dividends?

Keshawn used to work for an it company in baltimore, but lost his job when his company decided to use workers in new delhi instead. this is an example of: