Metro Corporation acquired 80 percent ownership of Dipper Corporation on January 1, 20X8, for $400,000. At that date, Dipper reported common stock outstanding of $150,000 and retained earnings of $300,000. The fair value of the noncontrolling interest was $100,000. The differential is assigned to equipment, which had a fair value which was $50,000 greater than book value and a remaining economic life of five years at the date of the business combination. Dipper reported net income of $80,000 and paid dividends of $40,000 in 20X8. Required: 1) Provide the journal entries recorded by Metro during 20X8 on its books if it accounts for its investment in Dipper using the equity method. 2) Give the eliminating entries needed at December 31, 20X8, to prepare consolidated financial statements.

David burdick is the ceo of acme bubblegum, a successful public company. as one of the cofounders of the company, burdick has enjoyed speaking and writing about the success of acme bubblegum for several years. typically, he speaks at conferences or directly to the press, but recently, he has been blogging about his firm anonymously. specifically, he defended a recent advertising campaign that was unpopular among consumers and pointedly attacked one of acme bubblegum’s competitors. burdick deeply enjoys his anonymous blogging and believes that none of his readers actually know that he works for acme bubblegum.should burdick be allowed to praise his company’s performance anonymously online? should he be allowed to attack his competitors without disclosing his relationship with the company? how would you feel if the ceo of a company at which you shopped was secretly writing criticisms of his or her competition? how would you feel if you knew a writer for your favorite blog was actually closely involved in a company that the blog discussed? 1. define the ethical issue? 2. who are the primary stakeholders? 3. what are the possible alternatives? 4. how could you evaluate the ethical implications of the alternative actions (use appropriate decision rules)? 5. what action would you recommend and why?