Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Umatilla Bank and Trust is considering giving Shamrock, Inc. a loan. Before doing so, it decides that further discussions with Shamrock, Inc.’s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $282,890. Discussions with the accountant reveal the following. 1. Shamrock, Inc. sold goods costing $50,770 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse. 2. The physical count of the inventory did not include goods costing $103,820 that were shipped to Shamrock, Inc. FOB destination on December 27 and were still in transit at year-end. 3. Shamrock, Inc. received goods costing $26,950 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count. 4. Shamrock, Inc. sold goods costing $47,050 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Shamrock, Inc. physical inventory. 5. Shamrock, Inc. received goods costing $41,500 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $282,890. Determine the correct inventory amount on December 31.
Wise Company began operations at the beginning of 20x1. The following information pertains to this company. Gross profit on construction contracts using the percentage- of- completion method per books amounts to $92,000. Gross profit on construction ..
Identify the product costs to be accounted for. Compute the cost per equivalent unit: weighted average. Assign product cost to batches of wor.
A Freeze dryer is expected to cost $190.000 two years from now and another $120,000 four years from now. If Astra Zeneca wants to set aside enough money now to cover these costs, how much must be invested at an interest rate of 8% per year compounded..
A fund of $5000 is used to award a scholarship of $500 at the end of each six months for as long as possible. If the effective interest rate per 6 months is 7%, find the number of scholarships which can be awarded, and the amount left in the fund six..
Prepare a statement of partnership liquidation with supporting safe payments schedules for each cash distribution.
Smathers and Branson handcrafts needlepoint belts and other products. Company founders, Peter Smathers Carter and Austin Branson stress the importance of planning and budgeting. How can budgeting help the owners efficiently develop and operate their ..
Muhammad, your client, comes to your office. He is from Pakistan and is an avid cricket player. His annual salary and bonus/incentive compensation income, earned as the president of an engineering firm in Virginia, is usually $2 million. Will Muhamma..
Amazon has asked you to come up with a design for their drone delivery system. You have three designs to choose from. The weight the drone can carry and cost are equally important but the time it takes is less important and the distance it can car..
Which of the following is an advantage of corporations relative to partnerships and sole proprietorships and group of users of accounting information charged with achieving the goals of the business
ABC Company produces tie racks. The estimated fixed costs for the year are $288,000, and the estimated variable costs per unit are $14. ABC expects to produce and sell 60,000 units at a price of $20 per unit. How much is the break-even point in units..
the case scenario provided will be used to answer the discussion questions that follow.ms. g. a 23-year-old diabetic is
Describe at least one major historical event that occurred in the business world in the past 20 years and discuss how this affected today’s accounting system of self-regulation. Describe the legislation that altered the self-regulation process of the..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd