3.auto detailing, inc. had the following transactions on august 1:
a. the company sold $2,100 of inventory costing $1,400. the custome
2,100 of inventory costing $1,400. the customer will not be billed until september. as
of august 31, no entries have been made with respect to the inventory that has
been made with respect to the inventory that has been sold or the sale.
b. the company received a $2,000 payment from a customer for services to be performed during august and
september. on august 1, the entire $2,000 was placed in the unearned revenue account. as of august 31,
40% of the work had been completed.
c. the company paid $7,200 for 4 months' rent in advance. the entire amount was placed into prepaid rent.
d. the company sold equipment costing $2,400 for $5,400 to a customer in return for a 3-month note. the sale
was properly recorded on august 1. auto detailing, inc. is charging 12% interest on the note. the customer
will pay the note and all interest after 3 months.
prepare the appropriate journal entries for auto detailing, inc. as of august 31, for each of the above
transactions.

Consider the following ethical argument. which of the three statements represents the moral statement about a moral principle? statement 1: a dealership advertised a car at a very low price, but only had a similar higher priced model in stock. statement 2: it is wrong to perform a bait and switch. statement 3: the dealership was wrong to advertise the car on special sale when in actually it was not available.

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.

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.