The purpose of sobriety checkpoints that are set up by community and state police is to deter drunk driving and ultimately save lives.While not mandated,the makers of Blackberry™ have complied with the public request of several legislators and have obediently removed apps that permit smartphone users to navigate around the checkpoints.Google™ and Apple™ have elected not to honor such requests.Google said the apps do not violate the company's content policy.After studying about ethics and social responsibility,which of the following statements applies to this situation? A) Laws represent the minimum guidelines that companies must follow,whereas a firm's ethical stance may venture beyond the minimum level of compliance.
B) Google and Apple are showing corporate social responsibility because they demonstrate concern for their investors,which is exactly where their focus should be.
C) Blackberry is acting philanthropically toward government.
D) Google and Apple are showing their distrust for big government,and their avoidance of contributing toward philanthropic causes.

____ is a team behavior demonstrated by communicating your progress and problems with the team.

Assignment I1. On March 1, 2020, Tahir Muktar, a famous businessman in Addis, opened a business named “Universal Garage” which is organized as a sole proprietorship. The business is established to render car repair, maintenance and related services for fees. Below are chart of accounts for and selected transactions completed by Universal Garage in March 2020.


a) Chart of accounts

Universal Garage

Chart of Accounts


100 ASSETS

110 CURRENT ASSETS

111 Cash

112 Accounts Receivable

114 Supplies

116 Prepaid Rent

117 Prepaid Insurance

120 PLANT ASSETS

121 Land

123 Machinery

123.1 Accumulated Depreciation-Machinery

125 Office Equipment

0.1 Accumulated Depreciation-Office Equipment


200 LIABILITIES

210 CURRENT LIABILITIES

211 Account Payable

213 Salaries Payable

216 Interest Payable

220 NON-CURRENT LIABILITIES

221 Long-term Bank Loan


300 OWNER'S EQUITY

301 Tahir, Capital

302 Tahir, Drawings

303 Incomes Summary


400 REVENUES

401 Fees Earned

410 Other Income


500 EXPENSES

501 Salary Expenses

502 Supplies Expenses

503 Rent Expenses

504 Insurance Expenses

505 Depreciation Expenses

506 Interest Expenses

510 Miscellaneous Expenses




b) Transactions

Mar 1 Received the following assets from its owner, Tahir:

Cash....................................... Br, 8,300

Supplies ................................. 2,000

Office Equipment................... 10,000

2 Borrowed Br 5,000 from Dashen Bank

3 Paid Br 1,800 for rent on a building leased for business purposes

3 Purchased welding and other repair machinery for Br 3,600 cash

4 Paid Br 200 for a radio advertisement

8 Sold for Br 200 cash an old office equipment with a recorded cost of Br 200

13 Paid weekly salary Br 1,200

16 Received Br 4,400 from services rendered on cash

20 Paid weekly salary Br 1,200

20 Received Br500 royalties for idle repair machinery it leased to other businesses

20 Delivered service on credit, Br 6,000

21 Purchased additional repair machinery on account for Br 2,000 from Sámi-Engineers

23 Received Br 5,000 additional cash investment from its owner

24 Repaid Br 1,000 bank loan and paid Br 100 interest on bank loan

26 Purchased supplies for Br 800 cash

27 Paid Br 100 for customer entertainment and other items

27 Paid weekly salary Br 1,200

31 Paid Br 500 for electricity and other utilities consumed during the month

31 Received Br 4,200 cash from credit customers

31 Paid Tahir Br 1,800 for personal uses


Required:

a) Journalize the above transactions in a two-column journal

b) Post the journal entries to “T” accounts

c) Prepare and complete a worksheet based on the following additional information

i. Cost of supplies remained unconsumed on Mar 31 is Br 900

ii. The amount paid on Mar 3 is for a three-month rent

iii. The amounts of depreciation for machinery and office equipment are estimated to be Br 560 and Br 1,900 respectively

iv. Universal Garage usually pays Br 1,200 for employee's salary every saturday for a six-day work week ended on that day

v. Interest on bank loan accrued but not paid on March 31 total Br 100

d) Prepare financial statements for the month

e) Journalize and post adjusting entries

f) Journalize and post closing entries

g) Prepare post-closing trial balance

When one person seeks to satisfy his or her own interests regardless of the impact on the other parties to the conflict, that person is using the conflict-handling intention of ________.A) competing


B) avoiding


C) accommodating


D) compromising


E) collaborating

A client has an options account that is qualified to buy options and sell covered calls. The client calls his representative, telling him that he wants to sell naked calls in the account. Which statement is TRUE about this?A. The representative can do this without taking any further action
B. The "Special Statement for Uncovered Options Writers" must be provided before executing the transaction
C. The "Options Disclosure Document" must be provided before executing the transaction
D. The representative must open a separate options account for the customer and segregate the resulting naked options positions

Is cost minimization equivalent or identical the concept of product maximization. True of False. Explain

Denver company uses a job costing system. The work in process inventory on december 31 consisted of job no. 173 with a balance of​ $66,200. Job no. 173 has been charged with manufacturing overhead costs of​ $20,000. Denver allocates manufacturing overhead costs at a rate of​ 50% of direct labor cost. What was the amount of direct materials charged to job no.​ 173?