Ff& t corporation is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives. the following selected transactions relate to ff& t’s investment activities during the last two months of 2018. at november 1, ff& t held $75 million of 30-year, 8% bonds of convenience, inc., purchased may 1, 2018, at face value. management has the positive intent and ability to hold the bonds until maturity. ff& t’s fiscal year ends on december 31. nov. 1 received semiannual interest of $3.0 million from the convenience, inc., bonds. dec. 1 purchased 10% bonds of facsimile enterprises at their $72 million face value, to be held until they mature in 2024. semiannual interest is payable may 31 and november 30. 31 purchased u. s. treasury bills to be held until they mature in two months for $10.7 million. 31 recorded any necessary adjusting entry(s) relating to the investments. the fair values of the investments at december 31 were: convenience bonds $ 71.7 million facsimile enterprises bonds 72.9 million u. s. treasury bills 10.7 million required: prepare the appropriate journal entry for each transaction or event. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. enter your answers in millions rounded to 1 decimal place (i. e., 5,500,000 should be entered as 5.

Materials purchases (on credit). direct materials used in production. direct labor paid and assigned to work in process inventory. indirect labor paid and assigned to factory overhead. overhead costs applied to work in process inventory. actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) transfer of jobs 306 and 307 to finished goods inventory. cost of goods sold for job 306. revenue from the sale of job 306. assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions.

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u. s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?