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Primary Task Response: Within the Discussion Board area, write 300-400 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Accounting for merchandise inventory is done using different methods. Write a report discussing three different methods (3 inventory costing methods (specific identification, FIFO, LIFO, and/or weighted average). In the report, identify 2 reasons why a business would choose that particular method.
on november 3 this year kerry acquired and placved into service 7-year business equipment costing 80000. in addition on
on june 3 bolton company sold to arquette company merchandise having a sale price of 2000 with terms of 210 n60 f.o.b.
You are expected to prepare the project proposal for a project of sufficient complexity and value that you are familiar with to highlight the costing approach and appraisal of the project. Your proposal should include:
Cynthia gives her son stock with a basis in her hands of $65,000 and a fair market value of $60,000. No gift tax is paid. Son subsequently sells the stock for $63,000. What is his recognized gain or loss?
What were the strengths and weaknesses of Trinity's practice-based bottom-up approach? How effective was it? What would you recommend it should have done differently in Year 1? Defend your response.
daley co. manufactures computer monitors. following is a summary of its basic cost and revenue data sales price 580 100
haft construction company has consistently applied the percentageof completion method. on jan 10 2008 haft began work
indicate which of the following items would be reported as an extraordinary item would be reported as an extraordinary
Conan Industries collected $100,000 from customers in 2010. Of the amount collected, $25,000 was from revenue earned on account in 2009. In addition, Conan earned $40,000 of revenue in 2010, which will not be collected until 2011.
Discuss the potential for abuse and fraud in this system. Describe the controls that should be implemented to reduce the risks.
For each of the following, journalize the necessary adjusting entry:
Use the gross profit method to estimate the cost of the ending inventory for November - Estimating ending inventory by the gross profit method
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