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!
Q. Inventories and revenue recognition?
Management make a decision which inventory costing method or methods (LIFO, FIFO, and so on.) to use. As well, management should determine which method is the most meaningful and useful in representing economic results. Then it should use the selected method consistently.
The principal business of Kellwood Company is the merchandising, marketing and manufacturing of apparel primarily for women. Note in the following annotation from Kellwood's financial statements that it like other companies uses several costing methods within the same enterprise.
Inventories are stated at the lower of cost or else market. The first-in first-out (FIFO) method is utilized to determine the value of 46 per cent of the domestic inventories as well as the last-in first-out (LIFO) method is used to value the remaining domestic inventories. Inventories of foreign subsidiaries are valued utilizing the specific identification method. Sales are acknowledged when goods are shipped." In general companies use the inventory method that best fits their individual circumstances.
Carrying amounts of merchandise materials as well as supplies inventories are generally determined on a moving average cost basis and are stated at the lower of cost or market.
WHAT IS THE MEANING OF INVENTORY TURNOVER
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins
The career paths outlined above don't nearly cover all of the many professional options available to tax specialists. For instance are you concerned that a traditional tax accounti
At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect
Q. Financial statements in European countries? In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not repo
What are examples of deferred revenue expenditure? Ans) It is an expenditure the advantage of which will be realized over a period and not during the present period. Ex-Heavy Ad
explain the separate set of books method for maintaining joint venture accounts
Instructions: 1. Using the journal entry sheet provided, record the transactions for January. January is the first full month of operations. 2. After journalizing the transactio
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