Reference no: EM133111496
Question - The Kwok Company's inventory balance on December 31, 2021, was $170,000 (based on a 12/31/2021 physical count) before considering the following transactions: 1. Goods shipped to Kwok f.o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $31,000 2. Goods shipped to Kwok f.o.b. shipping point on December 28, 2021, were received on January 5, 2022. The invoice cost was $18,000. 3. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2021, were received by the customer on January 3, 2022. The sales price was $41,000 and the merchandise cost $23,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2021, were received by the customer on December 30, 2021. The sales price was $21,000 and the merchandise cost $14,000. 5. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28, 2021, were received by the customer on January 4, 2022. The sales price was $26,000 and the merchandise cost $13,000. Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet?
|
Exchange rate between the pound and the rand
: Brent oil. In 2015 one barrel of Brent oil traded for GBP42.34 and South Africa rands (ZAR) 789. What is the exchange rate between the pound and the rand?
|
|
List three qualifications for becoming cfe
: Question - Access the U.S. Department of justice website, and briefly explain the characteristics of identity theft. List three qualifications for becoming CFE
|
|
Calculate the real worth of the investment in today dollars
: The relevant nominal discount rate is 7.5% and the inflation rate is 4.2%. Calculate the real worth of the investment in today's dollars
|
|
Prepare an income statement for this month
: Prepare an income statement for this month in good form using the contribution format and the variable costing method
|
|
Determine the correct inventory amount to be reported
: The sales price was $26,000 and the merchandise cost $13,000. Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet
|
|
How many would be members of a union
: Question - Acme, a federal civilian agency, employs 200,000 people. How many would be members of a union
|
|
Record sales transactions and related taxes for each client
: Sainsbury rang up $13,000 of sales, plus HST of 13%, on its cash register on April 10. Record sales transactions and related taxes for each client
|
|
Determine the carrying value of each statement
: Determine the carrying value of each statement of financial position item at year end, December 31, 2021, under both ASPE and IFRS
|
|
What journal entries should the partnership have recorded
: A compensation allowance of $7,000 was to go to Hugh with a $15,000 amount assigned to Jacobs. What journal entries should the partnership have recorded
|