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Audit TechniqueWrite 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.htmlPublication 535 – Business Expenses athttp://www.irs.gov/publications/p535/ix01.htmlpreview of the answer…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 or pay for personal services. In this case therefore Jill Peterson’s actions are both unethical and also violate rules pertaining to the formation of partnershipsAPA 307 words
$4.00 – Purchase Checkout