Jill Peterson is one of several subscribers involved in the process of forming a new company

Write a one to two page memorandum on the following ethics issue:
Jill Peterson is one of several subscribers involved in the process of forming a new company, Pets-Go. She is also in the process of buying a new personal residence. Jill wants to pay the legal fees associated with the purchase of her new home from corporate funds by charging them to the corporation’s Organization Costs account. “I’ll have the accountant mix them in with the corporation’s legal bills. No one will ever notice,” says Jill.
Pets-Go Company is planning to become a client of Accounting Services, Inc., where you work.. I’m your supervisor, and have asked you to research this issue and to give me your opinion and recommendations. You can assume I have knowledge of the subject area. This is a business memo and you will not reference the instructor, student, any textbook, or assignment. Keep this memo in a business context. Make sure to list the references (web addresses) you used to form your opinion. The reference needs to be within the memo not listed at the end of the memo.
The following resources may help with your research on the subject:
Partnership – Audit Technique Guide – Chapter 1 – Initial Year Return Issues at http://www.irs.gov/businesses/partnerships/article/0,,id=134690,00.html
Publication 535 – Business Expenses athttp://www.irs.gov/publications/p535/ix01.html

…………………….Answer preview………………………..

Ethical issues concerning Pets-Go Company

Whenever members contribute funds towards the establishment of a company, their contributions are only supposed to purchase the assets of the company. As a result of this, no partner should use contributions from other partners to purchase any personal commodity…………………………….

APA

307 words

Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below