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financial accounting by Spiceland, J. David; Thomas, Wayne; Hermann, Don Turn to page# 117 -> Read the...

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Accounting

financial accounting by Spiceland, J. David; Thomas, Wayne;Hermann, Don

Turn to page# 117 -> Read the Ethical Dilemma section onPrepaid Advertising (100% Points). Part I: a) Write the journalentries to record the advertising expense for the month of November2018 and December 2018 (Assume $500,000 per each month). b) Writethe journal entry to record the advertising cost as a Prepaid Ads(an asset) for the fiscal year 2018. c) If the Prepaid Ads journalis recorded and posted in 2018 (from item b) , what is the reversaljournal for this transaction in fiscal year 2019? Part II: Answerthe two(2) questions asked from the Ethical Dilemma problem : (1)As an employee, should you knowingly record advertising costincorrectly if asked to do so by your superior?” (2) Does youranswer change if you believe that misreporting will save employeejobs? The answer to Q1& Q2 (Part II) should be a min 1paragraph / max up to 2 paragraphs.

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