Write a brief memorandum that responds to the ownersQuestionYou are the financial officer for Music Plus, a retailer that sells goods for home entertainment needs. The business owner, Vic Velakturi recently reviewed the annual financial statements you prepared and sent you an e-mail stating that he thinks you oversta.
Write a brief memorandum that responds to the owners
Question:
You are the financial officer for Music Plus, a retailer that sells goods for home entertainment needs. The business owner, Vic Velakturi recently reviewed the annual financial statements you prepared and sent you an e-mail stating that he thinks you oversta
ted net income.
He explains that although he has invested a great deal in security, he is sure shoplifting and other forms of inventory shrinkage have occurred, but he does not see any deduction for shrinkage on the income statement. The store uses a perpetual inventory system.
Write a brief memorandum that responds to the owner’s concerns.
Write a brief memorandum that responds to the owners
Accounting Basics
