#### All Pages

Assignment Help Accounting Basics
##### Reference no: EM13122485

The records of Nevada Co. indicated that \$420,000 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that \$370,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for the year ended December 31, 2010

#### Questions Cloud

 Probability and combinations only good plums : Question about Probability and combinations, There are 5 rotten plums in a crate of 25 plums. How many samples of 4 of the 25 plums contain Determining optimal ordering policy : A firm is faced with the attractive situation in which it can be obtain immediate delivery of item it stocks for retail sale. The firm has, therefore, not bothered to order the item in any systematic way. Probability- considering failure rates : Probability- Considering Failure Rates, The records of Midwestern University show that in one semester, 38% of the students failed mathematics, 27% of the students failed physics Description of linear function : Suppose that the weight (in pounds) of an airplane is a linear function of the total amount of fuel (in gallons) in its tank. When graphed, the function gives a line with a slope of 6.4. Journalizing the adjusting entry : The records of Nevada Co. indicated that \$420,000 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that \$370,000 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage .. Line-slope-intercept form : Determine the slope-intercept form of the line with x-intercept = -8 and y-intercept = -16 i.e. the line passes through the points (-8, 0) and (0, -16). Probability- different colours of marbles : Probability- Different Colours of Marbles, A jar contains 3 white marbles, 2 yellow marbles, 4 red marbles, and 5 blue marbles. Two marbles are picked at random. What is the probability that Perpendicular-intersecting and parallel lines : In your own words, explain the difference between intersecting and perpendicular lines. Can two lines exist that are not intersecting or parallel? Explain your answer. Qualified veterans mortgage bonds : Fluent an investor in stocks and bonds wanted to increase his portfolio but wanted to minimize his tax liability on the income from the bonds. He is presented with the following alternative investments: US Series EE bonds, bonds for industrial dev..

### Write a Review

#### City of sharpesburg-library book permanent fund

Prepare a separate Statement of Revenues, Expenditures, and Changes in Fund Balances for the Library Book Permanent Fund for the Year Ended December 31, 2012.

#### Differentiate across various forms of business combinations

Define the term business combination and differentiate across various forms of business combinations. Describe when consolidation of financial information into a single set of statements is necessary.

#### Compute any passive investment income tax penalty

In 2012 Sweetwater's excess net passive income is \$42,000. Sweetwater holds \$31,000 of accumulated earnings and profits from a C corporation year.

#### Journal entry for issuance of bonds

Prepare the journal entry to record the issuance of the bonds and the related bond issue costs incurred on January 1, 2009.

#### Risk premium and capital asset pricing model

Suppose Intel stock has a beta of 2.16, whereas Boeing stock has a beta of 0.69. If the risk-free interest rate is 4% and the expected return of the market portfolio is 10%,

#### Contango market and backwardation market

Write down the difference between a contango market and a backwardation market. What exactly is meant by a basis?

#### Journal entries for not for profit science center

Discovery Barn, a not-for-profit science center for children, received a contribution for \$30,000 explicitly designated for the acquistion of computers. Prepare all required journal entries, being certain to indicate the type of fund in which each ..

#### Accounting engagement for acme company

CPA Smith completed an accounting engagement for the ACME Company on December 20, 20X1, and sent ACME a bill for \$5,000 which ACME paid on January 25, 20X2. CPA Smith uses the cash basis of accounting

#### Describe foreign corrupt practices act

Describe Parts I and II of the Foreign Corrupt Practices Act. What is the impact of this act on companies and public accountants? Explain.

#### Find out franchisee breakeven sales in dollars

Find out a franchisee's breakeven sales in dollars. Is franchising good idea for Wong if franchisees want a minimum monthly operating income of \$6,000 and Wong believes that most locations could generate \$26,000 in monthly sales?

#### Computing stock and portfolio beta

There are two stocks, stock A and stock B. The price of stock A today is \$70. The price of stock A next year will be \$50 if the economy is in recession, \$80 if the economy is normal and \$95 if the economy is expanding.

#### Activity-based costing approach

Using the activity-based costing approach, determine the overhead cost per unit for each product.  Prepare a Schedule of Expected Cash Collections for November and December.    Prepare a Merchandise Purchases Budget for November and December.