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Bristol Sales had the following transactions for DVDs in 2012, its first year of operations. • Jan. 20 .Purchased 75 units©$17 = $1,275.00 • Apr. 21 Purchased 450 units © $19 = $8,550.00 • July 25 Purchased 200 units © $23 = $4,600.00 [Sept. 19 Purchased 100 units@$29 =.. $2,900.00 - During the year, Bristol Sales sold 775 DVDs for $60 each. Required A. Compute the amount of ending inventoryBristolwould report on the balance sheet, assume the following cost flow assumptions:
(1) FIFO, (2) LIFO, and (3) weighted average. B. Record the above transactions in general journal form and post to T-accounts using (1) FIFO, wand (3) weighted average. Use a separate set of journal entries and T-accounts for each method. Assume all transactions are cash transactions. C. Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.
on june 1 acme corporation declared and issued a 15 stockdividend to each of its 400000 outstanding shares of 2 par
the following info relates to pell companys construction jobswhich commenced during 2008.
During 2013, an examination of the building by an engineering firm discloses that its estimated useful life is 15 years after 2012. What should be the amount of depreciation for 2013?
What challenges does the city face based on a review of the Management, Discussion, and Analysis and identify the Bond Rating of the reporting entity?
kava inc. manufactures industrial components. one of its products which is used in the construction of industrial air
calculate the amount of net income Argentine Company should report for 2008 and 2009.
A mutual fund portfolio manager's performance is evaluated by comparing the short-term and long-term returns to specific benchmarks. When you look at a performance review in Morningstar (one of the most recognized rating service companies) you wou..
Determine each year's absorption costing net operating income. Present your answer in the form of a reconciliation report.
What are the pros and cons for increasing the information being supplied by companies in their segment reporting?
instructionsa journalize the closing entries at april 30.b post the closing entries to income summary and retained
The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
Browne and Red, both C corporations, formed the BR partnership on january 1, 2009.neither Browne nor Red is a personal service corporation, and BR IS NOT A TAX SHELTER. BR'S GROSS RECEIPTS WERE $4.6 million, $5 million, $6 million, and $7 million ..
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