How much should kim co record as the cost of goods

Assignment Help Cost Accounting
Reference no: EM13215217

Kim Co. purchased goods with a list price of $180,300, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Kim Co. record as the cost of these goods?

Reference no: EM13215217

Questions Cloud

Write a gui-based program that analyzes a round of golf : Write a GUI-based program that analyzes a round of golf. You will retrieve the data for 18 holes from a text file. On each line in the file will be the par for that hole (3, 4, or 5) and your core for that hole should be displayed in a label. Prov..
Explain what would be the amount of the equity : Based on your answer in (c), what would be the amount of the equity up front that you would have to give up in order to obtain LipLife's original venture capital investment?
Hat does mbsa do to check for weak local account passwords : hat does MBSA do to check for weak local account passwords?
Clarify the difference between vulnerabilities and threats : Summarize the primary vulnerabilities and potential threats that exist for GITI related to the practice of storing sensitive data on laptops. Use your answer to clarify the difference between vulnerabilities and threats.
How much should kim co record as the cost of goods : Kim Co. purchased goods with a list price of $180,300, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Kim Co. record as the cost of these goods
Determine which tax form is used by the individuals : John R. Lane (SSN 123-44-6666) lives at 1010 Ipsen Street, Yorba Linda, California 90102. John, a single taxpayer, age 66, provided 100% of his cousin's support. The cousin lives in Arizona. He wants to take advantage of the presidential election ..
Investigate and discuss how data is structured : Choose any two of the problem areas and discuss in detail how the database approach solves the problem when compared to alternative approaches.
Explain the bond its yield-to-maturity has decreased : A bond with annual coupon rate of 5.10% and price of $1,090 just yesterday paid a coupon. A total of 23 coupons remain to be paid. Suppose you buy the bond at today's price, hold it and receive 8 coupons
Describe how the referential integrity restrict : Describe how the referential integrity restrict, cascade, and set-to-null delete rules operate in a relational database

Reviews

Write a Review

Cost Accounting Questions & Answers

  Calculate diluted earnings per share

Calculate basic earnings per share, carefully showing all of your work and calculate diluted earnings per share, carefully showing all of your work.

  Evaluate what is the journal entry

The loader is predictable to have a four-year life and a $20,600 salvage value. Loader costs are recorded in Equipment account. Evaluate what is the journal Entry?

  Inventory and warehousing cycle.

Inventory and warehousing cycle and cash cycle

  Effects of recognizing the nsf check

Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal statements model

  Prepare a classified balance sheet

Journalize the adjusting entries using the worksheet as a basis and journalize the closing entries using the worksheet as a basis

  Prepare all entries required to properly record the sale

On April 1, 2014, West Company purchased $476,000 of 5.25% bonds for $494,790 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2019.

  Compute overhead rates using activity-based costing approach

Compute the overhead rates using the activity-based costing approach and determine the difference in allocation between the two approaches.

  Prepare a statement of financial position for abc ltd

Prepare a statement of financial position for ABC ltd as at 30 June 2012 to comply with AASB 101 and prepare a statement of changes in equity for ABC ltd for the year ended 30 June 2012, according to the requirements of AASB 101.

  What is sales order processing system

What is sales order processing system and what is Data Flow Diagram and how might Data Flow Diagram going to be helpful to an accountant? Discuss your views.

  Estimate what would be annual costs and revenues

The Heritage Amusement Park would like to construct a new ride called the Sonic Boom, which the park management feels would be very popular. The ride would cost $450,000 to construct, and it would have a 10% salvage value at the end of its 15-year..

  Evaluate point price elasticity of demand

Evaluate the point price elasticity of demand for Richardson's Stores, Inc and evaluate the company's optimal shoe price if marginal cost is $10 per unit

  Evaluate the business products

Would Sweet Products bid on the Red Sugar Candy business at $20 per case

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!

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