Answer:
c. Marketplace rewards unethical behavior.
Explanation:
In the long run duration for an organization, it is very well necessary to build up an value served to customers.
The values served to customers does not only include the quality of product, but includes the quality of service and behavior assigned with it.
As the ethics reflect the basic principles of moral values followed by the organization, they are important for any organization.
In the long run, no customer will stay with the organization which do not consider or choose to behave ethically, as that leads to negative goodwill in the economic environment for the organization.
Therefore, the statement valid, that is the wrong statement among all of the above is:
c. Marketplace rewards unethical behavior.
Answer and Explanation:
The journal entries are shown below:
On May 1
Cash $840,000
To 4% Bonds Payable $840,000
(Being the issued of the face value is recorded)
On Nov 1
Interest Expense $16,800
To Cash A/c $16,800
(Being the interest expense is recorded)
The computation is shown below:
= $840,000 × 4% × 6 months ÷ 12 months
= $16,800
On Dec 31
Interest Expense $5,600
To Interest Payable $5,600
(Being the accrued interest is recorded)
The computation is shown below:
= $840,000 × 4% × 6 months ÷ 12 months
= $5,600
Answer:
[(Accounts receivable at the beginning of the year + $138,000) - $144,000] - cash realizable value at the beginning of the year
Explanation: The question is incomplete but just apply the missing figures: [(Accounts receivable at the beginning of the year + Sales on account - Collections on account - write off) - bad debt] - cash realizable value at the beginning of the year
[(Accounts receivable at the beginning of the year + $390,000 - $230,000 - $22,000) - $144,000] - cash realizable value at the beginning of the year
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