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!
A substantial portion of inventory owned by Alcorn Sporting Goods was recently destroyed when the roof collapsed during a rainstorm. Alcorn also lost some of its accounting records. Alcorn must estimate the loss from the storm for insurance reporting and financial statement purposes. Alcorn uses the periodic inventory system. The following accounting information was recovered from the damaged records:Beginning inventory .........$ 50,000Purchases to date of storm ........$ 175,000Sales to date of storm ..........$ 240,000The value of undamaged inventory counted was $4,000. Historically Alcorn's gross margin percentage has been approximately 25 percent of sales. Required:
Estimate the following:
a. Gross margin in dollars.
b. Cost of goods sold.
c. Ending inventory.
d. Amount of lost inventory.
Compute the amount of cash, in total, which the company can expect to collect in May - compute the budgeted dollar amount of inventory which the company should have on hand at the end of April.
Prepare separate journal entries to record the transfer of each proprietorship's assets and liabilities to the partnership and journalize the additional cash investment by each partner.
interpreting regression results matching time periods brickman apparel produces equipment for the extreme-sports
_____ 1. Which of the following is a mixed-use activity that Congress has written detailed rules in an attempt to curb
Determine the amounts - Cash collected from sales during Year 2 and cash payments on accounts payable during Year 2.
Construct a diagram of a two-stage cost allocation system for Web-books.com. Identify each activity pool in your model as unit-level, batch-level, product-level or facility-level.
1.Your friend, Diana Wood, recently completed the second year of her business and just received annual financial statements from her accountant.
Taking these two incentives into account, calculate the net financial cost(interests and fees net of tax deductions and GST claim) for the purchase of the vehicle under pre-computed finance arrangements at the time of borrowing. Assume that the custo..
Compute the unit manufacturing costs of each product under a traditional (i.e. volume based) costing system using "direct labor cost" as the allocation basis. 2. Compute the unit manufacturing cost of each product under the activity-based costing sys..
Risk assessment is a critical starting point for audits in general. How can it be used as a tool for an entity's antifraud program, in which the entity is trying to minimize its fraud risk?
Calculate the total simulated hours, total waiting time for the customer service team member, and the total wait time for the customer?
question 1list and describe the four standards in the imas statement of ethical practice.question 2consider 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