Answer:
Sarah failed to evaluate a potential ethical issue
Explanation:
According to the given scenario, Ethical concerns occur as workers face pressure from their employers to inflate profits or expenditures that include manipulating financial statements. Workers should be morally responsible and not participate in any dishonest behavior that modify the financial statements.
So, the correct answer is Sarah failed to evaluate a potential ethical issue
.
Answer:
A and C
The firm sells and distributes only high-end products
&
It is controlled by market leaders or by firms who have a niche market it is often difficult for a new firm to get access to shelf space in supermarkets.
Answer:
(a)
July 31, 2022
Dr. Depreciation Expense $4,580
Cr. Accumulated Depreciation $4,580
(b)
Dr. Cash $22,430
Dr. Accumulated Depreciation $41,410
Dr. Loss on Sale of asset $14,030
Cr. Cost $77,870
Explanation:
Before sale of the asset, depreciation for the year should be recorded. To incorporate its effect on the sale.The depreciation for the 7 months of 2022 will be added to the accumulated depreciation account.
July 31, 2022
Accumulated Depreciation = $36,830 + $4,580 = $41,410
Net Loss is calculated by deducting the accumulated depreciation and cash received on the sale from the original cost of the asset.
