Describe the placement layering and integration activities


Question: The Dirty Accountant? Logan Johnson is a recent graduate of MidUniversity's accounting program. She has begun her work as the accountant for Platinum Automotive run by Joe and Tom Younger. Platinum has a series of car lots where they sell top-end "previous driven" cars in Baltimore, Maryland. On February 6, 2011, Joe Younger sold a 2010 BMW X3, 3.01 SUV for $38,000. Logan entered the following entry into the accounting database for the sale: there, Bloom uses the money to buy out his shares in Z-Print. The purchase price is $500,000. Bloom's fatherin-law says he will go along with the deal for $50,000. The $50,000 is recorded as an increase in his salary.

The sale documents are signed, and the money is moved from Island Printing to Bloom's personal bank account in two transfer payments of $250,000 each over a four-month period. Although he knows the deposits will require the bank to report the transactions, he believes the sale documents will deflect any questions that may be asked. Describe the placement, layering, and integration activities that are occurring in this case.

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Accounting Basics: Describe the placement layering and integration activities
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