Ethics Case ECS Tiffany Lyons was jst ied the as n of Key West Soes The company is a specialty chain store with nine retail oes comcen d in one meopolin are Among other things the payment of all imvoices is ceetralied in one of the depe s Tiffywill manage Her primary responsiblity is to maintain the company's high d y ing a hlh when doe and to take advantage of all cash discounts Jay Barnes, the former assistant tre new duties. He instructs Tiffny that se i and dating the checks the last day of the at least 4 days beyond the discount pero on our money. Most of our creditsn missing the discount peiod, we blee of every hundred we take that way 1 thi training Tfany in her hecks "et of discount bold the checks w ther 4 days of interest y sccm about our ot one discount out team Instructions a. What are the ethical consideration ie i b. Who are the stakeholders that are harmed ce c. Should Tiffany comtinue the praction tarted by Jav? ors s have y choice? Comprehensive Accounting Cycle Review ACRS Financial Statement On December 1, 2020, Rodriguez Distributing Company had the fol- lowing account balances. Credit Debit Accumulated Depreciation- Equipment Accounts Payable Salaries and Wages Payable Owner's Capital. Cash $ 7,200 $ 2,200 4,500 1,000 39,300 Accounts Receivable 4,600 Inventory Supplies Equipment 12,000 1,200 22,000 $47,000 $47,000 During December, the company completed the following summary transactions. Paid $1,600 for salaries and wages due employees, of which $600 is for December and $1,000 is for November salaries and wages payable. Received $2,200 cash from customers in payment of account (no discount allowed). Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. Purchased merchandise on account from Boehm Co. $9,000, terms 2/10, n/30. Purchased supplies for cash $2,000. Sold merchandise on account $15,000, terms 3/10, n/30. The cost of the merchandise was $10,000. Paid salaries and wages $1,800. Paid Boehm Co. in full, less discount. Received collections in full, less discounts, from customers billed on December 18. 6 Dec. 8 10 13 15 18 20 23 27 ER 5 Accounting for Merchandising Operations Adjustment data: 1. Accrued salaries and wages payable $840. 2. Depreciation $200 per month. 3. Supplies on hand $1,500. Instructions a. Journalize the December transactions using a perpetual inventory system. b. Enter the December 1 balances in the ledger T-accounts and post the December transactions. Use Cost of Goods Sold, Depreciation Expense, Salaries and Wages Expense, Sales Revenue, Sales Discounts, and Supplies Expense. c. Journalize and post adjusting entries. d. Prepare an adjusted trial balance. e. Prepare an income statement and an owner's equity statement for December and a classified balance. sheet at December 31. $68,340 1,610 itical Thinking risancial Ronorting Problem: Apple Inc