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!
Tom Brady Shop began operations on 2nd January, 2012. The subsequent stock record card for footballs was taken from the records at the end of year. Date Voucher Terms Units Received Unit Invoice Cost Gross Invoice Amount 1/15 10624 Net 30 50 $27.00 $1,350 3/15 11437 1/5, net 30 65 23.00 1,495 6/20 21332 1/10, net 30 90 22.00 1,980 9/12 27644 1/10, net 30 84 19.00 1,596 11/24 31269 1/10, net 30 76 18.00 1,368 Total 365 $7,789 A physical inventory on 31st December, 2012, reveals that 100 footballs were in stock. The bookkeeper informs you that all discounts were taken. Suppose that Tom Brady Shop uses invoice price less discount for recording purchases. (a) Evaluate the 31st December, 2012, inventory using FIFO method. (b) Evaluate the 2012 cost of goods sold using the LIFO method. (c) Find what method would you recommend to owner to minimize income taxes in 2012, using inventory information for footballs as a guide?
Finding the equivalent units for materials and conversion - Find How many units were started and completed during May?
Evaluate the number of pairs of Sure Foot boots Mountain Top must sell to get an after tax profit of $30,000. Evaluate the number of pairs of each product Mountain Top must sell to get identical before tax profit.
Computation of Adjusted Cash Balance - which the company had erroneously recorded in the accounting records as $40. The "adjusted cash balance" at June 30 should be?
Evaluate the overhead rate for each cost driver
Determine what balance would be included in a December 1, 2010 consolidation.
Preparation of journal entries, adjusted trial balance and classified balance sheet - Prepare journal entries for the transactions listed above and adjusting entries. and prepare an adjusted trial balance at January 31, 2007
Prepare the bank reconciliation for this company as of April 30 - Bank Reconciliation statement
Explain in basic terms the main concern to be addressed in determining the appropriate revenue recognition pattern.
Calculate the dollar amount of variable and fixed cost that should have been allocated to each of operating departments at the starting of last year for planning purposes.
Determine Jason's basis in the land, in the inventory, and in the partnership interest instantly following the distribution.
Calculation of missing information used in Accounts Equation and Determine the missing amount from each of the separate situations.
Evaluate the net operating income for the month under variable costing and evaluate the net operating income for the month under absorption costing?
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