The thomas company now has 12000 his is what they paid for

Assignment Help Accounting Basics
Reference no: EM13583488

The Thomas Company now has $12,000 (his is what they paid for the inventory) of obsolete inventory stock. This inventory could be sold for $5,000 at a loss, or modified for $6,000 and sold for $15,000.The change in the company's net income resulting from modifying the inventory and then selling it opposed to selling it as is would be?

Reference no: EM13583488

Questions Cloud

Having recently been to a company seminar on the new tax : steven is a representative for a textbook publishing company. steven attends a convention that will also be attended by
Loreal-american corporation purchased several marketable : loreal-american corporation purchased several marketable securities during 2013. at december 31 2013 the company had
Callie is admitted to the adams amp beal partnership under : callie is admitted to the adams amp beal partnership under the goodwill method. callie contributes cash of 20000 and
An organization makes and sells one product if the target : an organization makes and sells one product. if the target net profit for the month is 26000 monthly fixed costs are
The thomas company now has 12000 his is what they paid for : the thomas company now has 12000 his is what they paid for the inventory of obsolete inventory stock. this inventory
Using the indirect method prepare the companys statement of : the following financial statements relate to alpine trails ski resort comparative balance sheets as of december 31 20x3
The customer service representatives answer basic questions : your company has been trying to survive during this downturn in the economy. you are the manager of a call center that
Kingdom leasing inc incurred costs of 6500 in negotiating : 1 the normal selling price of the jousting equipment is 325000 and the cost of the asset to kingdom leasing inc. was
Tadpole corporation a calendar-year tax payer purchased and : tadpole corporation a calendar-year tax payer purchased and places into service machinery with a 7-year life that costs

Reviews

Write a Review

Accounting Basics Questions & Answers

  Mber later purchases 100 shares of treasury stock for 17

amber company originally issued 1000 shares of 10 par value common stock for 20000 . amber later purchases 100 shares

  Ethical standards regarding reimbursement claims

How might the company's control system be designed to foster high ethical standards regarding reimbursement claims and other issues?

  Foren corporation had the following transactions pertaining

foren corporation had the following transactions pertaining to debt investments.jan. 1 purchased 50 8 1000

  Dairy corp has a 20 million bond obligation outstanding

dairy corp. has a 20 million bond obligation outstanding which it is considering refunding. the bonds were issued at 8

  Determine dividends per share and total cash dividends

Determine the dividends per share and total cash dividends paid to the preferred and common stockholders during each of the four years. If an amount is zero, enter "0". If required, round your answers to two decimal places.

  The december 31 20x0 balance sheet disclosed the following

sophisticates inc. a distributor of jewelry throughout california is in the process of assembling a cash budget for the

  Annual rate of bonds

In the section on the yield to call, a bond pays annual interest of $80 and matures after ten years. The bond is valued at $1,147 if the comparable rate is 6 percent and the bond is held to maturity.

  Determine medleys margin of safety in units

Determine Medley's margin of safety in units, sales dollars, and as a percentage.

  How are the remaining segments reported

A company has 10 industry segments, of which the largest five account for 80% of the combined revenues of the company. What considerations are important in determining the number of segments that are separately reportable and How are the remaining..

  Why is the liability for warranties recognized

Why is the liability for warranties recognized when products are sold rather than when the warranty services are performed?

  Feng company installs a computerized manufacturing machine

feng company installs a computerized manufacturing machine in its factory on 0101 at a cost of 42300. the machines

  Price-usage and total variance

If I were to make muffins and the blueberries for the muffins cost 2.05 per bag and I use 11 blueberries per muffin but then found out that people liked 15 berries per muffin and I found a store that sold 400 berries per bag at 1.89 per bag. How d..

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