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Accounting for inventory using the perpetual inventory system-
FIFO, LIFO and the weighted average Fit world began January with merchandise inventory of 80 crates of vitamins that cost a total of $4,000. During the month, Fit world purchased and sold merchandise on the account as follows. Jan 5. Purchase 140 crates @ 55$ each 13 Sale 160 crates @ 100 $ each 18 Purchase 160 crates @ 60$ each 26 Sale 170 crates @110 $ each Requirement Prepare a perpetual inventory record using the FIFO inventory costing method and determine the company's cost of goods sold, ending merchandise inventory and gross profit.
Williams Corp. balance sheet at the end of 2013 included the following items. Current Assets $235,000 Current liabilities $150,000 Land 30,000 Bonds payable 100,000 Buildings 120,000 Common Stock 180,000 Equipment 90,000 Retained Earnings 44,000 Accu..
evaluated that the total estimated life should be 10 years with a salvage value of $5,490 at end of that time. Consider straight-line depreciation.
Compute the profit margin and return on stockholders equity of Will Company for the current year.
Prepare the journal entries for Barnes and Noble for the transactions and calculate the gross profit for Barnes and Noble - Calculate ending inventory, cost of merchandise sold and gross profit using the FIFO method.
Draber Restaurant accepted a Visa card in payment of a $400 lunch bill. The bank charges a 4% fee. What entry should Draber make.
Prepare the stockholders’ equity section of the balance sheet immediately after these transactions have been recognized.
McDonnell-Myer Corporation reported net income of $1,150 million. The company had 469 million common shares outstanding at January 1 and sold 42 million shares on Feb. 28. As part of an annual share repurchase plan, 6 million shares were retired on A..
Chain decided to use the equity method to account for the investment. What is the noncontrolling interest's share of Shannon’s net income for 2010?
present value and multiple cash flows of a project.seaborn co. has identified an investment project with the following
Prepare the necessary March 31 journal entry to record wages expense and wages payable. Assume that wages earned during March will be paid during April.
Calculation of Cost of Goods sold in Perpetual Inventory System - What is the cost of finished goods manufactured in August and What is the cost of goods sold manufactured in August?
Direct materials, direct labor, and factory overhead cost variance analysis Specialty Polymers, Inc., processes a base chemical into plastic. Determine (a) the price variance, quantity variance, and total direct materials cost variance; the rate vari..
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