included local‚ national and international bodies‚ all of which have professional codes of ethics. Do you think there would have been any conflict between these various codes of ethics during the salvage attempt? Yes‚ i think some conflicts between the various codes of ethics might have risen during the salvage attempt. Professional codes of ethics are rules that are supposed to govern the conduct of members of a given profession. Generally speaking‚ the members of a profession are understood to
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NAME: ___Seth Johnson__________________ Quiz Questions for Chapter 6 **ANSWERS ARE HIGHLIGHTED 1. A truck was purchased for $25‚000. It has a six-year life and a $4‚000 salvage value. Using straight-line depreciation‚ what is the asset’s carrying value (book value) after 2 years? d. $18‚000. 2. The sale for $2‚000 of equipment that cost $8‚000 and has accumulated depreciation of $6‚700 would result in what reflected in the income statement? d. loss of $1‚300. The following
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only method that does not deduct the salvage value when calculating the depreciation base‚ because in this method‚ we multiply the declining-balance rate by the book value at the start of each period. We continue this until the book value equals the estimate salvage value. Most companies that use this method will switch to the straight-line method when they are close to the end of the useful life of the asset so that they do not depreciate past it’s salvage value. 3. Why does a company select
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improperly eliminating and deferring current period expenses. Specific tactics: * Avoiding depreciation expenses on their garbage trucks by both assigning unsupported and inflated salvage values and extending their useful lives. * Assigning arbitrary salvage values to other assets that previously had no salvage value. * Failing to record expenses for decreases in the value of landfills as they were filled with waste. * Refusing to record expenses necessary to write off the costs of
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TPO1 范文： The lecturer claims that the new policy‚ which allows people to work four days a week instead of five‚ will have negative effects for companies as well as society. This claim is not in agreement with that of the reading passage‚ which suggests that such a policy will be beneficial. According to the lecture‚ a company that allows employees to have fewer working hours is likely to hire more people to ensure that it meets normal levels of productivity. If this occurs‚ expenses
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13 Engineering Economics 1.0 INTRODUCTION The broad field of economics may be divided into macro and micro economics. Macroeconomics involves problems associated with nations such as trade‚ trade deficits‚ monetary policy‚ national productivity‚ growth of the economy‚ inflation‚ budget deficits‚ national debt‚ unemployment‚ tariffs‚ etc. Microeconomics involves problems of firms and of individuals. Engineering economics is a special branch of microeconomics largely involved with the analysis
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for the following amounts: Cost of new track $5‚000‚000 Installing new track $3‚000‚000 Road bed grading and improvements $2‚500‚000 Removing old track ( net of salvage) $1‚500‚000 Total $12‚000‚000 The old track is fully depreciated‚ and the cost shown is net of $200‚000 salvage value received for the scrap metal. The new track is expected to last 3540 years. Specific Issues Out of the above figures‚ are there any costs that can be deducted on PSRR’s tax return or
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major toll on the gross margins and net income of Waste Management. With a balance sheet that was heavily based on equipment and land Waste Management was beginning to see that the only way to keep the company growing was to use depreciation and salvage value manipulation to lower the direct hits of these expenses. Now that the issues were becoming large enough to notice‚ the SEC began stepping in to investigate the operations‚ assets and accounting methods that were being used. Due to this‚
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Waste Management Inc. Fraud I. BRIEF HISTORY Waste Management Inc is a company in North America that provides waste and environmental services. This company was founded by Larry Beck in 1894. The company ’s operations also involved managing air and gas‚ environmental and groundwater protection as well as environmental engineering. By 1971‚ the company became more public after the 133 acquisitions and the $82M in revenue that were made and soon became the largest waste hauler in the
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they already owned were old and there was a need for new golf carts. Approached by two salesman‚ Lee Jeffries was forced to chose to make a deal with one of them. Salesman A offered carts at $2‚240 each and at the end of five years the expected salvage value was going to be $240 each. Salesman B proposed to lease the golf carts for $500 dollars per cart per year. This was payable at the end of the year for five years and the contract could be cancelled at any time with 90 days notice. This deal
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