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The dictionary explains the word 'inventory' as stock of goods. Although, inventory implies that such type of assets that will be disposed of in future in the common course of business. Bolten S.E. has explained this as, "inventory considers to the stock-pile of the product a firm is giving for sale and the elements that make up the product." Conversely, inventory is used to present the aggregate of those items of tangible assets that are:
(i) held for sale in common course of the business;
(ii) in process of production for such sale or
(iii) To be presently consumed in the production of services or goods to be available for sale.
Inventories are held fundamentally to smoothes the operations of the firm. Shortage of inventory at any point would disrupt operations resulting in either perfect time for men and lost or machine sales. A manufacturing firm may have inventories of various stages in the production process.
d. Prepare the summary journal entry required to transfer finished component kits from the Cutting Department to the Finishing Department in January. e. Compute the total cost assi
Foreign Currency Translation - Restating foreign currency in equivalent dollars; unrealized losses or gains are postponed and carried in Stockholder's Equity until foreign operatio
Q. Evlaute Expected value of sales volume? (17500 × 0·3) + (20000 × 0·6) + (22500 × 0·1) = 19500 units Expected NPV = (((19500 × 1·35) - 10000) × 3·605) - 50000 = $8852 W
Q. Show the Expatriation Tax? Expatriation Tax - Individuals who loose or terminate their residency within 10 year period immediately preceding the close of a tax year, if term
Legal Aspects There is no law relating to branch accounts but examination problems under this heading are frequently linked to either partnership or company account problems. Ans
Given the following cash flows for projects A and B: Year Project A Project B 0 -100,000 -150,000 (Project Cost) 1 25,000
The dividend yield as well as capital growth for 2004 must be calculated with reference to the 2003 end-of-year share price. The dividend yield is 0·56% (100 × 2·8/500·8) as well a
What is the sales price of common stock when it was issued?
Q. Determine Annual effective cost? (i) Payables policy One month cost of taking extended trade credit = 1.5/98.5 = 1.52% Annual effective cost = 1.015212-1 = 19.8%
XYZ Corporation recieves $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a a debit to investment b credit
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