The branch of philosophy that tries to answer questions about notions of what is good and bad and what is right and wrong is called:

Which of these would be examples of providing appropriate administrative support? Select five (5) that apply.

The bank statement for Soprano Company indicates a balance of $8,000.20 on June 30. The company’s cash account had a balance of $3,277.10.  The following additional items were noted: Cash sales of $342 had been erroneously recorded on Soprano’s records as $324. Deposits in transit at 6/30 totaled $600.00. Bank service charges were $20.00. The bank had collected a note of $3,000.00, plus $50.00 interest owed to Soprano. An NSF (not sufficient funds) check in the amount of $717.40 was returned by the bank. Checks outstanding totaled $2,992.50. Instructions Complete a bank reconciliation and prepare the journal entry(ies) to record the necessary changes to Soprano’s cash account.

Inventory information for Part 311 of Bonds Corp. discloses the following information for the month of June: June 1 Balance 450 units @ $1 June 10 Sold 300 units @ $2.40 June 11 Purchased 1,200 units @ $2 June 15 Sold 700 units @ $2.50 June 20 Purchased 750 units @ $3 June 27 Sold 450 units @ $2.70 Instructions Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO, (2) FIFO, and (3) Average-Cost. Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory under LIFO?

Scott Company purchased equipment for $350,000 on October 1, 2025. It is estimated that the equipment will have a useful life of 10 years and a salvage value of $60,000. Estimated production is 25,000 units and 15,000 estimated working hours. Scott uses the equipment for 800 hours and 3,700 hours, and the equipment produces 2,500 units and 7,000 units during 2025 and 2026, respectively. Instructions: Compute depreciation expense under each of the following methods for 2025 and 2026 assuming Scott’s year end is December 31. Straight-line method. Activity method (units of output). Activity method (working hours). Sum-of-the-years’-digits method. Double-declining-balance method. Compute the book value of the equipment at December 31, 2026 for each method A. – E.

Presented below is information related to copyrights owned by Fielding Company at December 31, 2025. Cost $9,450,000 Carrying amount 5,850,000 Expected future net cash flows (undiscounted) 5,000,000 Fair value 4,420,000 Assume that Fielding Company will continue to use this copyright in the future. As of December 31, 2025, the copyright is estimated to have a remaining useful life of 8 years and the company amortizes intangible assets using the straight-line method. Instructions: Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2025. The company does not use accumulated amortization accounts. Prepare the journal entry to record amortization expense for 2026 related to the copyrights. The fair value of the copyright at December 31, 2026, is $5,800,000. Prepare the journal entry (if any) necessary to record the increase in fair value.

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A Trial Balance:

Items concerning the accounts of the Doolittle Company for the current year are described below.  Prepare a December 31 year-end adjusting entry for each item, or indicate that an adjusting entry is not necessary.  Assume that transactions were initially recorded in real (balance sheet) accounts unless otherwise indicated. On July 1, a two-year comprehensive insurance policy was purchased for $1,200. The payment was debited to prepaid insurance. On January 1, the Office Supplies account had a $250 balance.  Supplies costing $1,000 were purchased during the year.  At December 31, an inventory count showed $300 of supplies on hand. As of December 31, $3,750 of employee salaries had been earned but not paid.  No entry for these unpaid salaries was previously recorded. Straight-line depreciation is used for a building purchased 5 years ago for $30,000, with an expected life of 30 years and an estimated residual value of $3,000. Entries to record depreciation were made each month through November. The income tax rate is 30% on current income.  Pretax income before the above adjusting entries was $17,075.

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