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Question - Your company uses FIFO for inventories (under IFRS). In your company the FIFO is calculated on continuous basis. There are know following information: a. at the beginning of June your company has 180 units of good A measured at 280 USD/unit. b. on June 11th your company purchased 260 units of good A at 290 USD/unit. c. on June 18th your company sold 220 units of good A at 420 USD/unit. The amount 420 USD is selling price of one unit of A. d. on June 26th your company purchased additional 190 of A at 330 USD/unit. Calculate profit/loss on sale.
On January 1, Robinson Company purchased a large piece of equipment for $14,300. Journalize the adjusting entry on December 31
Bravo Motors sold goods (a motor vehicle) to the University of Belize and received a 30-days, Journalize the accrued interest revenue on the note
How does the alternate system differ (e.g., underlying assumptions, categorization and treatment of various costs) from the initial system?
jane botosan operates a bed and breakfast hotel in a resort area near lake michigan. depreciation on the hotel is 60000
Explain the major differences between equity and debt financing and discuss the primary ways in which each would affect the future of the partners' business.
Describe Gilpin's ethical dilemma. What should Gilpin do if Myers gives her direct order to reclassify the costs
If the company uses the First-in, First-out inventory costing method, what is the amount of inventory on the December 31 balance sheet
Instead, assume that the company reported 408,000 weighted average common shares with a share capital of $14,032,000 and 160,000 preferred shares -cumulative.
Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and not cumulative.
Absolute Corporation currently has $50 million in liabilities and common equity in combination. What is Absolute optimal capital structure
What is a critical element of internal control in the handling of receivables by a business? Explain how this element is accomplished.
Assume that you recently graduated and have just reported to work as an investment advisor at the one of the firms on Wall Street. Use the extended DuPont equation to provide a summary and overview of company's financial condition as projected for ..
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