The net income of Simon and Hobbs, a department 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 $10,000 sale of furniture to the Simon family, even though the goods will not be shipped from the manufacturer until January 2001. Simon also tells the accountant not to make the following December 31, 2000 adjusting entries: Salaries owed to employees: $900 Prepaid …
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showed last 75 words of 353 total
…would be putting her career in jeopardy if she does as Ms. Simon asks. (I don't think it's ethical to put someone in that type of situation either) <Tab/>Simon and her business will be helped if these actions are carried out. She will probably get the loan she will be asking for, hopefully business will pick back up so that she can repay the loan and keep from hurting anyone.