You are employed as an accountant at Perfect Accountants & Co., CPAs. On January 3, 2021, a
Question:
You are employed as an accountant at Perfect Accountants & Co., CPAs. On January 3, 2021, a new client you acquired the past December 15 informed you that no periodic or other required reports have been filed with the SEC during the year ended December 31, 2020. On June 15, 2020, the client filed for protection under Chapter 11 of the Bankruptcy Act, but expects to remain in business indefinitely.
The client held a meeting for stockholders on February 21, 2020, at which time a board of directors was elected and appointed. The client is a publicly held company with assets at the end of 2019 of $11.2 million, and at the end of 2020 of $11.4 million.
The client had annual revenue during each of the last five years of about $45 million, and has had over 2000 shareholders since January 1, 2002. The client had a public float of $85 million at the end of the second quarters of 2019 and 2020.
Required:
List all the required filings the client failed to file with the SEC during and for the year 2020, and their due dates.
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina