User Account

All Pages

Why you feel ed needs to conduct a physical inventory

Assignment Help Accounting Basics
Reference no: EM13714011

Physical Inventory:

It is just a discussion. No need for APA formatting. Since it is year-end, you have decided that it is time for Ed to complete a physical inventory of parts and finished goods.

Ed is telling you that he has never done this before and doesn't believe it necessary because "everyone always keeps good records of what is used and sold.

" Discuss why you feel Ed needs to conduct a physical inventory. How will this impact the financial statements?

Write a proposed policy for Ed's office procedures manual including details of why an inventory count is necessary, how and when the inventory count will be conducted, and who will be responsible for ensuring the count is completed.

Reference no: EM13714011

Questions Cloud

Define the major product of the reaction of 2-methyl-butene : What will be the major product of the reaction of 2-methyl-butene with each of the following reagents? a. Br2 + excess NaCl b. A peroxyacid c. Hg(OAc)2, H20 followed by NaBH4 d. ICl
State the formula for bis nickel sulfate : Write the formula for bis(ethylenediamine)nickel(II)sulfate. bbreviate ethylenediamine as en and use square brackets around the cation.
What are the concentrations of a and b : A reaction A(aq) + B (aq) C(aq) has a standard free-energy change of-5.50 kJ/mol at 25 degree C. What are the concentrations of A, B, and C at equilibrium if, at the beginning of the reaction, their concentrations are 0.30 M, 0.40 M, and 0 M, resp..
Write one paragraph summarizing the properties of group 5a : Write one paragraph (no more than half a page) summarizing the properties of each of the following groups 4A, Group 5A, Group 6A and Group 7A.
Why you feel ed needs to conduct a physical inventory : Discuss why you feel Ed needs to conduct a physical inventory. How will this impact the financial statements
Write a nursing care plan of ms. m : Write a nursing care plan for the following patient situation: Ms. M, 48 years of age is admitted to the medical-surgical unit after an abdominal hysterectomy.
What is the concentration in molarity of the naoh solution : During a titration, it is found that 53.5 mL of a solution of NaOH is needed to neutralize a solution that contains 1.86 g of HCl. What is the concentration in molarity of the NaOH solution
What is the mole fraction of each gas in the mixture : Suppose a mixture of oxygen and nitrogen is prepared in which there are .200 mol oxygen and .500 mol nitrogen. What is the mole fraction of each gas in the mixture
Preparing your adjusting and closing entries : Prepared a few of the regular monthly entries for Ed. Now, Big Ed's Motorcycle Shop is nearing the fiscal year-end

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare journal entries to record each of these

common stock-25 par value 100000 shares authorized 45000 shares issued and

  Describing proprietorship problem

She has a large amount of income from other sources and is in the 33% marginal tax bracket. Would Tina's tax situation be better if XYZ were a proprietorship or a C-corporation? Explain why.

  Taffy industries is considering purchasing equipment

taffy industries is considering purchasing equipment costing 60000 with a 6-year useful life. the equipment will

  Determining fair market price for the stock

A particular common stock has an annual cash dividend of $2 per share and is predicted to have a market value of $30 per share 5 years from now. Assuming a discount rate of 10%, a fair market price for the stock today is:

  Risk premium and capital asset pricing model

Suppose Intel stock has a beta of 2.16, whereas Boeing stock has a beta of 0.69. If the risk-free interest rate is 4% and the expected return of the market portfolio is 10%,

  Three different partnership interests

Consider three people with three different partnership interests, and determine each individual's basis for partnership interest in the following three independent situations.

  Trying to get the priceearning ratio for the coca-cola

trying to get the priceearning ratio for the coca-cola company for the last 5 years starting in 2011.

  Pay for the bands expenses

In truth, not enough to pay for the band's expenses. For his taxes, Rocky receives Form 1099 Misc for his music performances.

  What are several conditions that can lead to fraud and to

what are several conditions that can lead to fraud and to what type of fraud can they lead?explain the details of a

  Prior to the closing of the overapplied or underapplied

hults corporation has provided data concerning the companys manufacturing overhead account for the month of november.

  If the expected t-bill rate is 44 percent what is the

consider the following information on a portfolio of three stocks state of economyprobability of state of

  Operating leverage-roe-eva

Explain what operating leverage, ROE, EVA are and how they measure performance. Pick another performance measure of your choice and explain it as well.

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd